CLEARVIEW WEALTH LIMITED — Capital/Financing Update 2007

Dec 6, 2007

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COMPANY ANNOUNCEMENT

Date: 7th December, 2007

Capital Return Update

At MMC Contrarian Limited’s (MMA) AGM held on Thursday the 25 October 2007, shareholders approved the 10 cent capital return subject to receiving confirmation from the Australian Tax Office that the payment will be treated as a return of capital for Australian tax purposes.

The Company has made numerous attempts through its taxation advisers to receive approval but as yet, has not received confirmation from the Australian Taxation Office that this payment will be treated as a return of capital. The Company will advise the market as soon as it becomes aware of the outcome .

For further information regarding this announcement, please contact:

Brian Wright Company Secretary. MMC Contrarian Limited (+612) 9224 0700

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.