New General Manager for Retail at Sydney Airport

MEDIA RELEASE 18 October 2007

New General Manager for Retail at Sydney Airport
Sydney Airport Corporation Limited has appointed Derek Larsen as General Manager, Retail. Derek's role will include overseeing the retail precincts of the T1 international and T2 domestic terminals as well as the delivery of the retail component for the new T1 departures project. He will report directly to Chief Executive Officer, Russell Balding.

Derek Larsen has over 16 years experience in all aspects of retail, commercial and residential property in Australia and Asia. His roles have included both centre and portfolio management roles within Australia as well as key strategic development roles in Asia.

He most recently worked for Colonial First State Property Management as the QLD and NSW Portfolio Manager.

"Sydney Airport retail has a global reach and is the gateway to Australia. With some 50% of Australia's international pax passing through Sydney, its competition is global and it is therefore a far more challenging and dynamic environment. At Sydney Airport, particularly in the international terminal, some 70% of the customers are infrequent visitors who are there for the purposes of holidaying or business travel and there is a vastly different cultural and demographic variation," Larsen said.

"This to me is in some ways a new frontier in retail with unexplored opportunities and I'm ready for the challenges the role will bring. We are at the beginning of a new dynamic era in international travel with the arrival of the new A380 aircraft carrying in excess of 500 pax and Sydney Airport will certainly be rising to the challenge.

"At Sydney Airport retail we also have a larger number of key stakeholders to work alongside including airlines, regulatory authorities and of course a wide range of retailers and service providers. In the next few years the airport will be undergoing a number of changes in the retail area and my team will work closely with these key stakeholders," he said.

Sydney Airport's T1 International and T2 Domestic (from where Virgin and Jetstar depart) terminal shopping precincts offer over 150 specialty retail and service outlets including exclusive designer label stores, gift shops, music stores, eateries and bars.

Released for Sydney Airport Corporation Limited by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information please call Nicola Rutzou or Aleks Czerwinski on (02) 9413 4244.

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