CLEARVIEW WEALTH LIMITED — Net Asset Value 2009

Mar 12, 2009

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13 March 2009

The Manager Companies Announcements Office Australian Stock Exchange Level 4, 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

COMPANY ANNOUNCEMENT – 28 FEBRUARY 2009 NET TANGIBLE ASSET (NTA) STATEMENT

	31 January	31 January	28 February	28 February
		2009		2009
	$m		$m
Investment category
Listed securities	11.8	13.0%	11.9	13.1%
Fixed interest and cash	78.9	87.0%	78.9	86.9%
Total investment assets	90.7	100%	90.8	100%
Intangible Assets	0.0		0.0
Other Assets and Liabilities	11.3		11.5
Total Net Tangible Assets after tax	102.0		102.3

MMA share price - cents	39.0	37.0
NTA per share before tax - cents1	65.3	65.4
NTA per share after tax - cents2	73.3	73.4
Premium (Discount) to NTA after tax %	(46.8)	(49.6)

The NTA per share after tax is higher than the NTA before tax because MMA is recognising a deferred tax asset of $7.9 million on the unrealised losses on its listed securities and carried forward income tax losses of $3.2 million.

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The calculations per share are based on shares issued of 139,312,192. The shares issued under the employee share scheme are excluded from this amount.

1 Unaudited, and excludes deferred tax asset on unrealised losses and carried forward income tax losses.

2 Unaudited, and after provision for all taxes and including deferred tax asset on unrealised losses and carried forward income tax losses.

For further information please contact:

Athol Chiert Company Secretary MMC Contrarian Limited (+612) 9224 0700