CLEARVIEW WEALTH LIMITED — Capital/Financing Update 2007

Oct 25, 2007

MMC

Contrarian

Limited

Level 8, 34 Hunter Street Phone: +612 9224 0700 Sydney NSW 2000 Fax: +612 9233 2275 GPO Box 4964 enquiries@mmcfunds.com.au Sydney NSW 2001 www.mmccontrarian.com.au

ABN 83 106 248 248

COMPANY ANNOUNCEMENT

Date: 26 October, 2007

Capital Return Update

At MMC Contrarian Limited’s ( MMC) AGM held on Thursday the 25[th] October, shareholders approved the 10 cent capital return. At this stage, MMC has not received confirmation from the Australian Tax Office that the payment will be treated as a return of capital for Australian tax purposes. The company will inform the market of the revised timetable assuming approval is granted as soon as we are notified in writing.

For further information regarding this announcement, please contact:

Kevin Eley Chairman MMC Contrarian (+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.