CLEARVIEW WEALTH LIMITED — Major Shareholding Notification 2008

Oct 30, 2008

Level 5, 34 Hunter Street Sydney NSW 2000 GPO Box 4406 Sydney NSW 2001

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Phone: +612 9221 7155 Fax: +612 9233 2713 Email: hgl@hgl.com.au Web: www.hgl.com.au

31 October 2008

Mr Brian Wright Secretary MMC Contrarian Limited Level 8 34 Hunter Street SYDNEY NSW 2000

Dear Mr Wright

We enclose a Form 605 – Notice of ceasing to be a substantial holder.

Yours faithfully HGL Limited

Peter Caldelis Secretary

HGL Limited ABN 25 009 657 961

investing in businesses

605 page 1/2 15 July 2001

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme MMC Contrarian Limited ACN/ARSN 106 248 248

1. Details of substantial holder (1)

Name HGL Limited and each body corporate listed in Annexure A ACN/ARSN (if applicable) 009 657 961 The holder ceased to be a substantial holder on 31/10/2008 The previous notice was given to the company on 20/11/2007 The previous notice was dated 20/11/2007

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person’s votes affected
29/10/2008	HGL Limited and each body corporate listed in Annexure A	Equal Access off market buy back	$12,800,656.81	18,054,523 ordinary shares	18,054,523
31/10/2008	HGL Limited and each body corporate listed in Annexure A	Off market sale	$8,491,071.10	16,329,088 ordinary shares	16,329,088
29/10/2008	FM Wolf as trustee for the FM Wolf Superannuation Fund	Equal Access off market buy back	$64,007.81	90,279 ordinary shares	90,279
29/10/2008	KJ Eley as trustee for the KJ Eley Superannuation Fund	Equal Access off market buy back	$85,390.54	120,438 ordinary shares	120,438

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN (if applicable) Nature of association

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
HGL Limited	Level 5,34 Hunter Street SydneyNSW 2000
FM Wolf as trustee for the FM Wolf Superannuation Fund	13 The Battlement,CastlecragNSW 2068
KJ Eleyas trustee for the KJ EleySuperannuation Fund	Level 5,34 Hunter Street SydneyNSW 2000

605 page 2/2 15 July 2001

Signature

print name Peter Caldelis sign here

Capacity Secretary

date 31/10/2008

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.

• (2) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.

• (3) See the definition of “associate” in section 9 of the Corporations Act 2001.

• (4) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

• (5) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (6) The voting shares of a company constitute one class unless divided into separate classes.

• (7) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A

Entity	ACN	Address
HGL Limited	009 657 961	Level 5, 34 Hunter St, SydneyNSW 2000
HGL GroupSuperannuation Fund PtyLtd	003 185 993	as above
Kinsole PtyLtd	003 516 452	as above
Garnet Producers PtyLtd	008 471 832	as above
Garnet Millers Australia PtyLtd	008 908 227	as above
Hancock & Gore Superannuation Fund PtyLtd	008 367 771	as above
Martin Wells Holdings PtyLtd	008 435 167	as above
Martin Wells PtyLtd	000 116 905	as above
Solander Holdings PtyLtd	002 786 281	as above
Anitech PtyLtd	000 118 212	as above
Aarque Reprographics Systems PtyLtd	000 100 265	as above
RKM PtyLtd	077 401 275	as above
Optical Investment Fund of Australia PtyLtd	075 483 662	as above
TJB Finance PtyLtd	085 663 921	as above
Eycon ImagingPtyLtd	072 023 208	as above
BOC Ophthalmic Instruments PtyLtd	065 092 248	as above
Leutenegger PtyLtd	056 512 031	as above
Craigie Securities PtyLtd	009 950 181	as above
Mountcastle Holdings PtyLtd	009 950 190	as above
Mountcastle PtyLtd	009 661 643	as above
J. Leutenegger PtyLtd	056 414 647	as above
Radda PtyLtd	094 263 555	as above
HGL CompanySix PtyLtd	079 744 166	as above
HGL GroupPtyLtd	079 732 068	as above
Hancock & Gore PtyLtd	091 712 104	as above
HGL CompanyTwo PtyLtd	091 712 159	as above
Createc PtyLtd	094 263 537	as above
National LightingPtyLtd	094 263 546	as above
AMCLA PtyLtd	103 939 420	as above
HGL CompanyEight PtyLtd	103 939 439	as above
HGL CompanyNine PtyLtd	103 939 466	as above
HGL CompanyTen PtyLtd	103 939 457	as above
HGL CompanyEleven PtyLtd	109 447 298	as above
HGL CompanyTwelve PtyLtd	109 447 421	as above
HGL CompanyThirteen PtyLtd	109 447 369	as above

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ANNEXURE A - continued

Entity	ACN	Address
HGL CompanyFourteen PtyLtd	109 447 332	Level 5, 34 Hunter St, SydneyNSW 2000
HGL CompanyFifteen PtyLtd	109 447 332	as above
HGL CompanySixteen PtyLtd	109 447 261	as above
Neltaro PtyLtd	002 994 149	as above
BLC Cosmetics PtyLtd	001 213 529	as above
Minimbah Enterprises PtyLtd	004 009 474	as above
Hamlon PtyLtd	002 489 214	as above
Trutex PtyLtd	109 402 762	as above
Baker & McAuliffe Holdings PtyLimited	059 756 811	as above
Biante PtyLtd	067 134 409	as above
The Point-of-Sale Centre New Zealand Ltd	N/A	483 Rosebank Road, Avondale, Auckland New Zealand
Aarque Graphics New Zealand Ltd	N/A	8 Te Pai Place, Henderson, Auckland, New Zealand
Ace Graphic Systems Ltd	N/A	as above
Frontline Technologies Ltd	N/A	as above
Aarcato Properties Ltd	N/A	as above

This is Annexure A of 2 pages referred to in Form 605 - Notice of ceasing to be a substantial holder signed and dated 31 October 2008.

Peter Caldelis Secretary HGL Limited

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