Qantas Airways has announced that Peter
Gregg would step down as Chief Financial Officer and as a member of
the airline’s Board on 30 September 2008.Mr Geoff Dixon, the Chief Executive Officer of Qantas, said Mr Gregg would
be succeeded as CFO of Qantas by Mr Colin Storrie, currently the Deputy CFO
(see biography below). Mr Storrie will assume the CFO role and take a place
on the Qantas Board on 30 September.

Mr Gregg will assist with the transition to a new CFO and leave Qantas on
31 December 2008.

Mr Dixon said Peter Gregg, who was appointed CFO in September 2000, had
been integral to the airline’s success over the past decade.

“Peter has made a wonderful contribution in both the financial and
strategic directions of Qantas over the past eight years and has served the
company and shareholders with distinction”, Mr Dixon said.

Mr Gregg said: “It has been a privilege to have contributed to the
management and strategic development of this great company. With a new
incoming CEO, I believe that signalling now my intention to step down from
both my executive and non-executive roles is in the best interests of
shareholders and the company.”

Colin is 39 years of age and has over 10 years of experience in senior
financial roles at Qantas. He has held the positions of Group Financial
Controller, Group Treasurer and for the past five years Deputy CFO with
responsibility for the Group Finance function.

Colin has been a member of the Qantas Executive Committee since October
2005 and has been a director of Australian air Express, Star Track Express,
Qantas Superannuation and Jet Turbine Services.

Prior to joining Qantas Colin had several years of experience in finance
and accounting roles within investment banking and the NSW government.

He is a Certified Practising Accountant, a member of the Australian
Institute of Company Directors and holds a Bachelor of Commerce degree and
a Graduate Diploma in Management.
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