MAGELLAN FINANCIAL GROUP LIMITED — M&A Activity 2007

Oct 15, 2007

NEW PRIVATEER HOLDINGS LIMITED

A.C.N 006 106 690

Registered Office: Level 6, 31 Queen Street MELBOURNE, VICTORIA, 3000 Telephone: (03) 8613 8888 Facsimile: (03) 8613 8800

15 October 2007

ASX Company Announcements

The Board wishes to advise shareholders of the Company that they have appointed KPMG in Melbourne as its corporate advisors in respect of the announcement made by Magellan Financial Group Ltd (“MFG”) of its intention to make takeover offers for all of the securities in New Privateer Holdings Ltd.

The Board further advises that they will continue to keep shareholders informed of future developments in respect of the announcement by MFG.

Yours sincerely, New Privateer Holdings Ltd

==> picture [285 x 75] intentionally omitted <==

T. Di Battista Company Secretary