Qantas Appoints Brokers for Share Buy-Back

Sydney, 28 August 2007

Qantas today announced that it had appointed Citigroup Global Markets Australia Pty Limited (Citi) and UBS AG, Australia Branch (UBS) to undertake the on-market buy-back of approximately 10 per cent of its shares.

The Chief Financial Officer of Qantas, Mr Peter Gregg, said the buy-back - which was announced on 16 August - was expected to commence in September after relevant approvals had been completed.

He said the duration of the buy-back would depend on market conditions and any governance issues that might arise during the buy-back.

Issued by Qantas Corporate Communication (3645)