FUTURE GENERATION AUSTRALIA LIMITED — Capital/Financing Update 2007

Aug 22, 2007

Total pages: 5

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ASX Announcement

Australian Infrastructure Fund (AIX)

23 August 2007

Perth Airport welcomes Qantas domestic terminal upgrade

Attached are releases from Perth Airport and Qantas regarding the Qantas domestic terminal upgrade.

For further enquiries, please contact:

Peter McGregor Chief Operating Officer

Australian Infrastructure Fund Tel: +61 3 9654 4477 Fax: +61 3 9650 6555 Email: investor_relations@hfm.com.au Website: www.hfm.com.au

Simon Ondaatje

Head of Investor Relations

Hastings Funds Management Tel: +61 3 9654 4477 Fax: +61 3 9650 6555 Email: investor_relations@hfm.com.au Website: www.hfm.com.au

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Kim Rowe Company Secretary Australian Infrastructure Fund

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.

www.hfm.com.au

M:\Marketing - Reporting\AIF\Announcements\Final ASX announcements for lodgement\AIF ASX Ann\2007\August\AIX - Perth Airport Domestic Terminal Upgrade.doc

Date: Tuesday, 21 August 2007

No. of pages: 1

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Perth Airport welcomes Qantas domestic terminal upgrade

Today’s announcement that Qantas plans to invest around $50 million upgrading its Perth domestic terminal was welcomed by Westralia Airports Corporation, the operator of Perth Airport.

Commenting on the announcement, Perth Airport CEO Brad Geatches said that the announcement by Qantas that it is proceeding to upgrade its domestic terminal demonstrates Qantas’ continuing commitment to Western Australia.

“Qantas clearly recognises that Western Australia is one of its strongest growth markets and a vital part of its global network.

“Passenger traffic at Perth’s domestic terminals has nearly doubled over the past 5 years to more than 5 million passengers each year, with the majority passing through the Qantas terminal.

“The improvements announced today will significantly enhance the passenger experience at Perth Airport.”

Mr Geatches said that Perth Airport is Western Australia’s most important infrastructure asset.

“In addition to the new investment announced by Qantas, Perth Airport will be investing close to $19 million in a number of upgrades to improve both passenger service levels and aviation business efficiency. This includes 1,300 extra car parking bays, which will be progressively opened over the next few weeks; improving the pick-up and drop-off facilities at the front of the terminals; and upgrading essential aircraft handling infrastructure so that larger aircraft can be handled more efficiently.

“The capital works being implemented by Perth Airport will complement the exciting plans Qantas has announced for its domestic terminal. These changes will significantly improve the capacity and customer experience at Perth Airport. We will continue to work with Qantas to find ways of improving the airport experience of its domestic travellers.

Mr Geatches said that the plans announced by Qantas marked the beginning of an exciting phase at Perth Airport and came on top of recent announcements by the State Government that it was considering a passenger rail link to the airport.

“We are now undertaking detailed planning to ensure that Perth Airport is well placed to handle the continuing high levels of demand being experienced for aviation services in Western Australia. As custodian of vital public infrastructure, Westralia Airports Corporation is committed to continuing to improve the levels of customer service at Perth Airport.

– Ends –

MEDIA CONTACT:

Malcolm Bradshaw

Corporate Affairs Perth Airport (Westralia Airports Corporation) Telephone: (08) 9478 8484 Mobile: 04 00 118 215

Westralia Airports Corporation Pty Ltd A.C.N 077 153 130 A.B.N 24 077 153 130 Baker Road (opposite Domestic Terminal) Perth Airport PO Box 6 Cloverdale Western Australia 6985 Telephone: +61 8 9478 8888 Fax: +61 8 9277 7537 E-Mail: perthairport@wac.com.au Web Site: www.perthairport.com

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QANTAS TO UPGRADE PERTH DOMESTIC TERMINAL

PERTH, 21 August 2007: Qantas announced today it would undertake a $50 million program of improvements to its domestic terminal at Perth Airport with work to commence by the end of 2007.

Qantas Executive General Manager Services Curtis Davies said the changes would provide enhanced facilities for passengers, aircraft and baggage services, and ensure the terminal was able to meet growing demand.

“Perth has experienced strong domestic passenger growth for a number of years due to Western Australia’s economic growth and the strong performance of the resources sector,” Mr Davies said.

“This has placed pressure on the airport’s infrastructure and Qantas has been working with Westralia Airports Corporation (WAC) to ensure our facilities are able to cater for short to medium term needs.

“We are also working with WAC to identify sustainable long-term development requirements for the airport.”

Mr Davies said Qantas’ improvements would include:

• expansion of the existing check-in area for departing passengers;

• installation of additional QuickCheck kiosks;

• a new security screening area to allow faster, smoother passenger flow;

• expansion of the departure lounge

• an upgrade and expansion of the Qantas Club lounge facilities;

• additional checked baggage screening facilities and improved baggage handling capacity; and

• expansion of the baggage reclaim area.

Mr Davies said to alleviate peak period aircraft parking issues, Qantas would construct a new aerobridge and upgrade a bay to provide additional wide-body aircraft parking capacity.

He said the Qantas enhancements would be undertaken in collaboration with WAC, which was also undertaking a range of improvements to facilities under its control.

“As these improvements are completed, the Qantas domestic terminal will look better and work more effectively for our customers by providing a more efficient and enjoyable airport experience,” Mr Davies said.

Issued by Qantas Corporate Communication (Q3641) Media Enquiries: Melissa Thomson T 07 3238 2720 m 0407 281 832 e mthomson@qantas.com.au

Qantas Airways Limited ABN 16 009 661 901 Further information and media releases can be found at the Qantas website: qantas.com

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Qantas Domestic Terminal Perth Airport Conceptual Aerial Image

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Conceptual New Security Area

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Qantas Airways Limited ABN 16 009 661 901 Qantas Centre 203 Coward Street Mascot NSW 2020 Australia Telephone 61 (2) 9691 3636

qantas.com

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Conceptual Ground Floor Draft Plan

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Qantas Airways Limited ABN 16 009 661 901 Qantas Centre 203 Coward Street Mascot NSW 2020 Australia Telephone 61 (2) 9691 3636

qantas.com