EPT Disclosure

FORM 38.5(b)

 DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITHOUT RECOGNISED INTERMEDIARY STATUS, OR WITH RI STATUS BUT NOT DEALING IN A CLIENT-SERVING CAPACITY (Rule 38.5(b) of the Takeover Code)

1. KEY INFORMATION

Name of exempt principal trader

UBS AG London Branch

Company dealt in

BRITISH AIRWAYS

Class of relevant security to which the dealings being disclosed relate (Note 1)

25P ORDINARY

Date of dealing

08 DECEMBER 2008

2. INTERESTS SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a) Interests and short positions (following dealing) in the class of relevant security dealt in 

 (Note 2)

Long

Short

Number

(%)

Number

(%)

(1) Relevant securities

00

0 %

125848

0.01 %

(2) Derivatives (other than options)

(3) Options and agreements to purchase/sell

Total

00

0 %

125848

0.01 %

(b) Interests and short positions in relevant securities of the company, other than the class dealt in

(Note 2)

Class of relevant security:

Long

Short

Number (%)

(%)

(1) Relevant securities

(2) Derivatives (other than options)

(3) Options and agreements to purchase/sell

Total

(c) Rights to subscribe

 (Note 2)

Class of relevant security:

Details

3. DEALINGS 

(Note 3)

(a) Purchases and sales

Purchase/sale

Number of securities

Price per unit

(Note 4)

SALE

4850

158.8

PENCE

PURCHASE

7774

158.8

PENCE

SALE

2575

159

PENCE

PURCHASE

2550

159.1

PENCE

PURCHASE

2217

159.3

PENCE

SALE

1258

159.4

PENCE

PURCHASE

4008

159.5

PENCE

SALE

7992

159.5

PENCE

SALE

5994

159.7

PENCE

SALE

2414

159.8

PENCE

PURCHASE

3174

160

PENCE

SALE

4002

160

PENCE

SALE

6837

160.1

PENCE

SALE

1451

160.2

PENCE

PURCHASE

1000

160.3

PENCE

SALE

3383

160.3

PENCE

PURCHASE

12152

160.4

PENCE

SALE

8516

160.5

PENCE

PURCHASE

9710

160.5

PENCE

SALE

15650

160.6

PENCE

PURCHASE

4900

160.7

PENCE

SALE

16523

160.7

PENCE

PURCHASE

3853

160.8

PENCE

SALE

16262

160.8

PENCE

PURCHASE

1000

160.9

PENCE

SALE

9673

160.9

PENCE

SALE

25420

161

PENCE

SALE

23895

161.1

PENCE

SALE

4822

161.2

PENCE

PURCHASE

15080

161.2

PENCE

PURCHASE

5750

161.3

PENCE

SALE

23668

161.3

PENCE

PURCHASE

576

161.35

PENCE

SALE

6550

161.4

PENCE

PURCHASE

13478

161.4

PENCE

SALE

8051

161.5

PENCE

PURCHASE

4400

161.6

PENCE

SALE

44506

161.6

PENCE

PURCHASE

3081

161.7

PENCE

SALE

3151

161.7

PENCE

SALE

474

161.8

PENCE

PURCHASE

1624

161.8

PENCE

SALE

2842

161.9

PENCE

PURCHASE

5800

161.9

PENCE

PURCHASE

4942

162

PENCE

SALE

8617

162

PENCE

PURCHASE

1000

162.1

PENCE

PURCHASE

655

162.5

PENCE

SALE

7428

162.6

PENCE

SALE

2726

162.7

PENCE

SALE

4666

162.8

PENCE

SALE

9346

162.9

PENCE

SALE

14857

163

PENCE

PURCHASE

10207

163.1

PENCE

SALE

1660

163.2

PENCE

PURCHASE

6993

163.4

PENCE

PURCHASE

1000

163.5

PENCE

SALE

1585

163.5

PENCE

PURCHASE

3900

163.6

PENCE

SALE

3931

163.6

PENCE

PURCHASE

1000

163.7

PENCE

SALE

1354

163.7

PENCE

PURCHASE

469

163.8

PENCE

SALE

6091

163.8

PENCE

PURCHASE

2900

163.9

PENCE

SALE

4106

164

PENCE

PURCHASE

4531

164

PENCE

PURCHASE

1000

164.1

PENCE

SALE

6482

164.1

PENCE

PURCHASE

1000

164.2

PENCE

SALE

6773

164.3

PENCE

PURCHASE

2326

164.4

PENCE

SALE

15844

164.4

PENCE

PURCHASE

6647

164.5

PENCE

SALE

13675

164.5

PENCE

SALE

2133

164.6

PENCE

PURCHASE

1570

164.7

PENCE

SALE

5260

164.7

PENCE

SALE

3912

164.8

PENCE

SALE

4340

164.9

PENCE

PURCHASE

9031

164.9

PENCE

SALE

5990

165

PENCE

PURCHASE

81

165.1

PENCE

SALE

2644

165.1

PENCE

SALE

1982

165.2

PENCE

SALE

10155

165.4

PENCE

SALE

797

165.5

PENCE

PURCHASE

13811

165.5

PENCE

SALE

5213

165.7

PENCE

SALE

1120

165.9

PENCE

SALE

2475

166

PENCE

PURCHASE

23611

166

PENCE

SALE

1308

166.1

PENCE

PURCHASE

6150

166.1

PENCE

SALE

6237

166.2

PENCE

PURCHASE

9824

166.2

PENCE

SALE

83

166.3

PENCE

PURCHASE

5252

166.4

PENCE

SALE

3050

166.6

PENCE

PURCHASE

5911

166.6

PENCE

SALE

442

166.7

PENCE

SALE

192

166.8

PENCE

PURCHASE

785

166.8

PENCE

SALE

8412

166.9

PENCE

PURCHASE

9700

166.9

PENCE

PURCHASE

21338

167

PENCE

PURCHASE

97349

167.011916

PENCE

SALE

11005

167.1

PENCE

SALE

2741

167.2

PENCE

SALE

10054

167.3

PENCE

SALE

1242

167.4

PENCE

PURCHASE

3206

167.5

PENCE

SALE

4791

167.5

PENCE

PURCHASE

5676

167.6

PENCE

SALE

3143

167.7

PENCE

PURCHASE

4281

167.7

PENCE

PURCHASE

5922

167.8

PENCE

PURCHASE

2600

167.9

PENCE

SALE

4090

167.9

PENCE

SALE

3695

168

PENCE

PURCHASE

4000

168

PENCE

SALE

133345

168.071784

PENCE

SALE

565

168.1

PENCE

PURCHASE

1930

168.1

PENCE

SALE

3598

168.2

PENCE

SALE

3440

168.3

PENCE

PURCHASE

5816

168.3

PENCE

PURCHASE

3693

168.4

PENCE

SALE

5800

168.4

PENCE

PURCHASE

3430

168.5

PENCE

SALE

12452

168.5

PENCE

PURCHASE

4628

168.6

PENCE

SALE

4902

168.6

PENCE

PURCHASE

638

168.7

PENCE

SALE

23035

168.7

PENCE

PURCHASE

1880

168.8

PENCE

SALE

9650

168.8

PENCE

PURCHASE

7450

168.9

PENCE

SALE

13705

168.9

PENCE

PURCHASE

24263

169

PENCE

SALE

25500

169

PENCE

PURCHASE

1839

169.1

PENCE

SALE

4388

169.1

PENCE

PURCHASE

5830

169.2

PENCE

SALE

12655

169.2

PENCE

SALE

8800

169.3

PENCE

PURCHASE

9556

169.3

PENCE

PURCHASE

3050

169.4

PENCE

SALE

7150

169.4

PENCE

SALE

4706

169.5

PENCE

PURCHASE

7467

169.5

PENCE

PURCHASE

5430

169.6

PENCE

SALE

16390

169.6

PENCE

PURCHASE

2331

169.7

PENCE

SALE

3691

169.7

PENCE

PURCHASE

15428

169.8

PENCE

SALE

16586

169.8

PENCE

SALE

1310

169.9

PENCE

PURCHASE

20286

169.9

PENCE

SALE

40302

170

PENCE

PURCHASE

78009

170

PENCE

SALE

6367

170.1

PENCE

PURCHASE

12023

170.1

PENCE

PURCHASE

4542

170.2

PENCE

SALE

12461

170.2

PENCE

PURCHASE

1307

170.25

PENCE

SALE

1307

170.25

PENCE

SALE

3000

170.3

PENCE

PURCHASE

26824

170.3

PENCE

PURCHASE

8772

170.4

PENCE

SALE

14702

170.4

PENCE

PURCHASE

5995

170.5

PENCE

SALE

23915

170.5

PENCE

SALE

8781

170.6

PENCE

PURCHASE

34218

170.6

PENCE

PURCHASE

3609

170.7

PENCE

SALE

6302

170.7

PENCE

SALE

12274

170.9

PENCE

PURCHASE

18600

170.9

PENCE

PURCHASE

20940

171

PENCE

SALE

28875

171

PENCE

SALE

11590

171.1

PENCE

PURCHASE

22421

171.1

PENCE

SALE

3650

171.2

PENCE

PURCHASE

3861

171.2

PENCE

PURCHASE

8132

171.3

PENCE

SALE

14433

171.3

PENCE

PURCHASE

1359

171.4

PENCE

SALE

3962

171.4

PENCE

SALE

6672

171.5

PENCE

PURCHASE

12370

171.5

PENCE

PURCHASE

949

171.6

PENCE

SALE

1000

171.6

PENCE

SALE

8416

171.7

PENCE

PURCHASE

8916

171.7

PENCE

PURCHASE

4550

171.8

PENCE

SALE

9061

171.8

PENCE

PURCHASE

8950

171.9

PENCE

SALE

9819

171.9

PENCE

PURCHASE

9658

172

PENCE

SALE

48241

172

PENCE

SALE

8357

172.1

PENCE

PURCHASE

24193

172.1

PENCE

PURCHASE

3353

172.2

PENCE

SALE

4547

172.2

PENCE

SALE

1490

172.3

PENCE

PURCHASE

6717

172.4

PENCE

SALE

15449

172.4

PENCE

SALE

1529

172.5

PENCE

PURCHASE

142235

172.5

PENCE

SALE

6730

172.6

PENCE

PURCHASE

9271

172.6

PENCE

SALE

3300

172.7

PENCE

PURCHASE

3578

172.7

PENCE

SALE

3000

172.8

PENCE

SALE

4028

173

PENCE

PURCHASE

6484

173

PENCE

PURCHASE

5937

173.1

PENCE

PURCHASE

2500

173.2

PENCE

SALE

3595

173.2

PENCE

PURCHASE

1458

173.3

PENCE

SALE

2500

173.4

PENCE

PURCHASE

14734

173.4

PENCE

SALE

6239

173.5

PENCE

SALE

1522

173.6

PENCE

PURCHASE

8450

173.6

PENCE

SALE

976

173.8

PENCE

SALE

3384

173.9

PENCE

Total Purchases

1030655

Total Sales

1119850

(b) Derivative transactions (other than options)

Product name, e.g. CFD

Long/short

 (Note 5)

Number of securities

 (Note 6)

Price per unit

(Note 4)

(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying 

Product name, e.g. call option

Writing, selling, purchasing, varying etc

Number of securities to which the option relates (Note 6)

Exercise price

Type, e.g. American,European etc.

Expiry date

Option money paid/received per unit (Note 4)

(ii) Exercising

Product name, e.g. call option

Number of securities

 Exercise price per unit

(Note 4)

(d) Other dealings (including new securities) 

(Note 3)

Natute of transaction

(Note 7)

Details

Price per unit (if applicable) 

(Note 4)

4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.

Is a Supplemental Form 38.5(b) attached?

(Note 8)

YES/NO

Date of disclosure

09 December 2008

Contact name

Nimisha Sachdev

Telephone number

+44 (0)20 7568 9289

Name of offeree/offeror with which associated

BRITISH AIRWAYS

Nature of connection (Note 9)

CONNECTED ADVISER