CLEARVIEW WEALTH LIMITED — Board/Management Information 2008

Mar 24, 2008

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COMPANY ANNOUNCEMENT

Date: 25 March, 2008

MMC Contrarian Limited appoints a new Chief Executive Officer

The Board of MMC Contrarian Limited is pleased to announce the appointment of Alex Hutchison as our new Chief Executive Officer who will commence his role today.

Alex has over 17 years experience in the financial services sector.

He was recently employed by Australian Wealth Management Limited, a large ASX listed company, in the dual role of Chief Executive of the Wealth Management Division and Chief Executive of Bridges Financial Services.

Since Alex’s appointment as Chief Executive of Bridges in 2004, he has played a pivotal role in significantly growing and transforming Bridges to become an integral part of Australian Wealth Management Limited and one of the largest financial planning groups in Australia.

Prior to becoming the Chief Executive of Bridges Alex held a number of senior financial service roles in Bridges, Colonial Limited and the State Bank of NSW.

Alex holds a Bachelor of Laws, is a Master Stockbroker SDIA and a member of IFSA’s Financial Advisory Network Committee. Alex is 42 years old and is married with three children.

The Chairman of MMC Contrarian Kevin Eley said “We are delighted that Alex has agreed to accept this new challenge and are looking forward to working with him to extract the most from our funds management business”.

Attached is a summary of the key terms of Mr. Hutchison’s employment.

Yours Sincerely, Kevin Eley. Chairman MMC Contrarian Limited

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.

SUMMARY OF EXECUTIVE SERVICE AGREEMENT AND REMUNERATION PACKAGE FOR MR ALEX HUTCHISON

The following sets out a summary of the material terms of the Executive Service Agreement between MMC Asset Management Limited ( Company ) and Mr Alex Hutchison ( Executive )

Commencement 25 March 2008 Date Annual $420,000 with annual reviews in July each year except for the remuneration: first review which will occur in December 2008 and take effect from 1 January 2009 Long term Within 3 months of commencing employment with the Company, incentive: the Executive will be offered an opportunity to acquire a maximum of 3,000,000 ordinary shares in the Company under the MMC Contrarian Executive Share Plan Rules ( Plan ). One million (1,000,000) of these shares will not be subject to any Performance or Vesting Conditions (as defined in the Plan) but will otherwise be subject to the terms and conditions of the Plan.

The remaining shares will be subject to any term, condition or limitation set out in the Invitation (as defined in the Plan) and the Plan.

From time to time, the Executive may be provided with further opportunities to acquire ordinary shares in the capital of the Company in accordance with the Plan.

Short term The Executive may be eligible to receive an annual bonus incentive: payment from time to time. The decision to make any bonus payment will be at the absolute discretion of the Board and subject to achievement of agreed key performance indicators. Termination of During the first 3 years of the Agreement ( Initial Term ), either the employment: Company or the Executive can terminate the Executive’s employment at any time for any reason by giving 12 months’ prior notice.

If the Executive’s employment is terminated by the Company during the Initial Term and the Company does not elect to pay him 12 months’ pay in lieu of notice, he can elect to leave immediately and be paid out the whole of his notice.

After the Initial Term, either the Company or the Executive can terminate the Executive’s employment at any time for any reason by giving 6 months’ prior notice.

If the Executive’s employment is terminated by the Company after

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the Initial Term, he will be entitled to, in addition to his period of notice or payment in lieu of notice, a payment equal to one half of his Annual Remuneration.

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