QANTAS AIRWAYS LIMITED — M&A Activity 2007

Aug 30, 2007

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QANTAS ANNOUNCES PURCHASE OF - ASIA BASED EXPRESS FREIGHT OPERATOR

SYDNEY, 31 August 2007: The Qantas Group announced today that it had acquired 100 per cent of the Asia-based express freight operator, DPEX Worldwide.

Qantas Executive General Manager Freight Enterprises Grant Fenn said the investment in DPEX, whose worldwide network included 18 countries across Asia, represented an important development for Qantas Freight Enterprises.

“The DPEX Worldwide acquisition will provide us with an exciting opportunity to enter the Asian express market and significantly expand our footprint in the region,” he said.

“This is a high-growth market that complements Qantas’ focus on Asian air freight and our Australian express operations and provides a great building block for expansion and growth.

“We will be concentrating on expanding the company’s operations in key markets, building the DPEX brand and developing enhanced products and services for clients.”

Mr Fenn said that the purchase of DPEX Worldwide followed the successful acquisition of 37.5 per cent of the DPEX franchisee in China on 30 May 2007.

He said that the CEO of DPEX Worldwide, Mr Donald Tay would continue to lead the business as it develops and grows.

Issued by Qantas Corporate Communication (Q3644) Media Enquiries: Holly Williams – 02 9691 4200

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