CLEARVIEW WEALTH LIMITED — Board/Management Information 2007

Jul 31, 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

Resignation of Chairman

The Chairman of MMC Contrarian Limited, Mr Simon Rowell, today announced that he has resigned as a Director of the Company, with effect from 31 August 2007, following the completion of the audited accounts for the year ended 30 June 2007.

Mr Rowell has been a Director and Chairman of the Company since it listed on the ASX in 2003.

Mr Rowell said that this was an appropriate time to make a change. The results for the year ended 30 June 2007 will be announced towards the end of August and will be a significant improvement on 2006. Earnings before tax and amortisation (including unrealised profits) were $21.6 million in 2006 and are expected to increase by 70% to approximately $37 million in 2007.

Mr Rowell also referred to the Company’s acquisition of its management company earlier this year and the establishment of the Contrarian Global Value Fund recently, which form the nucleus of the Company’s intentions to develop funds management as a future income stream. “The Company now has a robust strategy to lead it into future success,” he said.

Mr Kevin Eley will take on the role as Chairman on Mr Rowell’s departure. A process has also commenced to select and appoint an additional independent director or directors to the Board.

David Mackaway Company Secretary 1 August 2007

For further information please call Kevin Eley on (02) 9221 7155.