JOINT STATEMENT BY SINGAPORE AIRLINES AND THE VOLUNTARY ADMINISTRATORS OF ANSETT, MR MARK MENTHA AND MR MARK KORDA

The Voluntary Administrators of Ansett, Mr Mark Mentha and Mr Mark Korda, met Singapore Airlines’ (SIA) management in Singapore on Saturday 6 October 2001 to discuss the possibility of SIA’s involvement in a reconstituted Ansett or Ansett Mark II.

Both parties had a useful exchange of views and agreed to continue these discussions on the basis that SIA may be engaged by the Voluntary Administrators as a consultant to develop a business plan for Ansett Mark II. SIA would also have the opportunity to provide management and to take up equity at a future date at its option.

Mr Mark Mentha said that the Voluntary Administrators were keen for SIA to play a significant role in Ansett Mark II.

The chief executive and deputy chairman of SIA, Dr Cheong Choong Kong, said that while SIA was keen to explore the possibilities offered by this opportunity, there were many issues to resolve before any commitment could be made.