CLEARVIEW WEALTH LIMITED — Board/Management Information 2007

Oct 30, 2007

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COMPANY ANNOUNCEMENT

Date: 31 October, 2007

Appointment of an Independent Director

I am pleased to advise that Peter Wade has been appointed a Director of MMC Contrarian Limited (MMC).

For the past 25 years Peter has worked in the Australian and international equity markets. For approximately 24 of these years Peter worked for Goldman Sachs JB Were (previously known as JB Were) in Melbourne, London, New York and Sydney.

Peter was Managing Director, Sydney and Joint Head of Global Institutional Sales, and a member of the JB Were Board prior to merging with Goldman Sachs in 2003. Peter then became Joint Head of the Equities Products Group and was on the Board and Management Committee of the merged group.

In 2004 Peter joined JP Morgan where he became Managing Director, Head of Australian Equities and a member of the management committee before retiring from full time employment.

Peter has served on boards and committees of a number of security industry related organisations. Currently some of Peter’s involvements include Director of the Garvan Research Foundation and a Member of the Centre Circle Organising Committee.

As an independent Director, Peter will contribute to the development of MMC’s business strategy, and will be a member of MMC’s investment committee.

For further information regarding this announcement, please contact:

Kevin Eley Chairman MMC Contrarian Limited (+612) 9221 7155

About MMC Contrarian Limited

MMC Contrarian Ltd (ASX listing code: MMA) is a listed financial services company that:

• Creates and invests in unlisted boutique fund managers in various asset classes;

• Acquires strategic stakes in existing funds management business; and

• Generates income for shareholders from two sources (a) returns on a pool of listed equities, cash and funds that are managed by its investee companies and (b) recurring earnings from each manager that it creates or acquires.