CLEARVIEW WEALTH LIMITED — Board/Management Information 2007

MMC Contrarian

Limited ABN 83 106 248 248 Level 8, 34 Hunter Street Sydney NSW 2000 GPO Box 4964 Sydney NSW 2001

Phone: +612 9224 0700 Fax: +612 9233 2275

Appointment of new Portfolio Manager

I am pleased to announce the appointment of Brendan Burgess who will join MMC as a Portfolio Manager, starting in April 2007. Brendan brings over 12 years of investment experience to MMC having worked in a variety of roles as an equity analyst and portfolio manager. Most recently Brendan was a Senior Portfolio Manager and an Executive Director of Abvest Associates, a major South African investment business with a strong capital preservation and value philosophy, which he formed and then sold before moving to Australia. Prior to this. Brendan worked as an Investment Consultant and Portfolio Manager with PSG Investment Bank, Velocity Asset Management and Old Mutual Asset Managers. Brendan has a Bachelor of Business Science from the University of Cape Town and an Honours Degree in Commerce from the University of South Africa.

This is another major investment in MMC's capabilities and succession planning that was flagged with shareholders at the last AGM and follows the recent appointment of Stephen Atkinson from Credit Suisse, and a sign of our continuing commitment to develop a strong and sustainable asset management business within the value philosophy framework.

If you have any questions in relation to this appointment, please call me on (612) 9224 0700.

Andrew Fairweather Chief Executive Officer