WASHINGTON (dpa-AFX) - Southwest Airlines Co.'s (LUV) board announced on
Tuesday the approval of a limited-duration Shareholder rights plan, effective
immediately.

The decision was made in response to hedge fund Elliott Management's disclosure
of an 11 percent stake in Southwest, failure to report its full position in
Southwest Airlines to the SEC, and regulatory filings with U.S. antitrust
authorities indicating plans to acquire a larger percentage of Southwest
Airlines' voting power.

The rights plan, also referred to as a poison pill, aims to safeguard companies
from hostile takeovers by requiring bidders to negotiate with the board rather
than directly with shareholders.



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