SCHOOLBLAZER LIMITED — Major Shareholding Notification 2004

Dec 7, 2004

MMC ASSET MANAGEMENT LTD ABN: 37 071 807 684 AFSL: 230920 ACN: 071 807 684 enquires@mmcfunds.com.au www.mmcfunds.com.au

Level 8, 34 Hunter Street, GPO Box 4964 SYDNEY NSW 2001 Phone: (02) 9233 2250Fax: (02) 9233 2275

Re:	Form 605 Notice of ceasing to be a substantial holder
Fax:	Pages (incl cover): 71900 999 279
Company: ASX		Date:	8 December 2004
To:	Announcements	From:	Lisa Bassett

Please find following Form 605 Notice of ceasing to be a Substantial Holder for Health Communications Network Limited.

Please be sure to recognise as an announcement for HGL Limited (ACN 009 657 961).

8. DEC. 2004 - 9:01	NO. 558Р.2/715 July 2001page 1/2605
	Form 605
	Corporations Act 2001
	Section 671B
	Notice of ceasing to be a substantial holder
To Company Name/Scheme	Health Communications Network Limited
ACN/ARSN	068 458 515
1. Details of substantial holder (1)
Name	1. MMC Asset Management Ltd (ACN 071 807 684) and each body corporate it controls listed inAnnexure B
ACN/ARSN (if applicable)	2. HGL Ltd (ACN 009 657 961) and each body corporate it controls listed in Annexure A
	3. MMC Investment Company Limited (ACN 085 045 852)
The holder ceased to be asubstantial holder on	06/12/2004
	The previous notice was given to the company on $\frac{21}{10}$ / 2004
The previous notice was dated	21/10/2004
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 ofchange	Person whoserelevant interestchanged	Nature of change (6)	Considerationgiven in relationto change $(7)$	Class andnumber ofsecuritiesaffected(ordinary fullypaid shares ineach case)	Person'sVOLCSaffected
See Annexure C

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
Not applicable	Not applicable

4. Addresses

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

Name	Address
HGL Ltd	Level 5, 34 Hunter St. Sydney NSW 2000
MMC Asset Management Ltd	Level 8, 34 Hunter St, Sydney NSW 2000
ANZ Nominees Limited	Level 25, 530 Collins Street Melbourne VIC 3000

	.8. DEC. 2004 - 9:01				605	NO. 558.page 2/2	- 3715 July 2001
Signature		print name	Lisa Bassett				capacity Secretary, MMC Asset Management Ltd
		sign here		assets	08/date	2004
				DIRECTIONS
$\left( 1\right)$			If there are a number of substantial holders with similar or related interests (eg. a corporation and its related corporations, or the manager and trusteeof 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, theymay 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

• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(2)$
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(3)$

clearly set out in paragraph 4 of the form.

• Include details of: $(4)$
  • 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 $(a)$ contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement, and
  • 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 $(b)$ the securities to which the referant 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.

• 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 $(5)$ 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.
• The voting shares of a company constitute one class unless divided into separate classes. $(6)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(7)$

ANNEXURE A

Entity	ACN	Address
HGL Group Superannuation Fund Pty Ltd	003 185 993	Level 5, 34 Hunter St, Sydney NSW 2000
Kinsole Pty Ltd	003 516 452	as above
Gamet Producers Pty Ltd	008 471 832	as above
Garnet Millers Australia Pty Ltd	008 908 227	as above
Hancock & Gore Superannuation Fund Pty Ltd	008 367 771	as above
Martin Wells Holdings Pty Ltd	008 435 167	as above
Martin Wells Pty Ltd	000 116 905	as above
Solander Holdings Pty Ltd	002 786 281	as above
Anitech Pty Ltd	000 118 212	as above
Aarque Reprographics Systems Pty Ltd	000 100 265	as above
RKM Pty Ltd	077 401 275	as above
Optical Investment Fund of Australia Pty Ltd	075 483 662	as above
TJB Finance Pty Ltd	085 663 921	as above
Eycon Imaging Pty Ltd	072 023 208	as above
BOC Ophthalmic Instruments Pty Ltd	065 092 248	as above
OP's Optical Products Pty Ltd	071 601 664	as above
Leutenegger Pty Ltd	056 512 031	as above
Craigie Securities Pty Ltd	009 950 181	as above
Mountcastle Holdings Pty Ltd	009 950 190	as above
Mountcastle Pty Ltd	009 661 643	as above
Charmant Australia Pty Ltd	080 395 722	as above
J. Leutenegger Pty Ltd	056 414 647	as above
Radda Pty Ltd	094 263 555	as above
HGL Company Six Pty Ltd	079 744 166	as above
HGL Group Pty Ltd	079 732 068	as above
Hancock & Gore Pty Ltd	091 712 104	as above
HGL Company Two Pty Ltd	091 712 159	as above
Createc Pty Ltd	094 263 537	as above
HGL Company Four Pty Ltd	094 263 546	as above
HGL Company Seven Pty Ltd	103 939 420	as above
HGL Company Eight Pty Ltd	103 939 439	as above
HGL Company Nine Pty Ltd	103 939 466	as above
HGL Company Ten Pty Ltd	103 939 457	as above
HGL Company Eleven Pty Ltd	109 447 298	as above
HGL Company Twelve Pty Ltd	109 447 421	as above
HGL Company Thirteen Pty Ltd	109 447 369	as above
HGL Company Fourteen Pty Ltd	109 447 350	as above

$\sim$

$\sim$

$\overline{\phantom{a}}$

$\sim$ .

$\ddot{\phantom{a}}$

Entity	ACN	Address
HGL Company Fifteen Pty Ltd	109 447 332	Level 5, 34 Hunter St, Sydney NSW 2000
HGL Company Sixteen Pty Ltd	109 447 261	Level 5, 34 Hunter St, Sydney NSW 2000
Neltaro Pty Ltd	002 994 149	Level 5, 34 Hunter St, Sydney NSW 2000
BLC Cosmetics Pty Ltd	001 213 529	Level 5, 34 Hunter St, Sydney NSW 2000
Minimbah Enterprises Pty Ltd	004 009 474	Level 5, 34 Hunter St, Sydney NSW 2000
Hamlon Pty Ltd	002 489 214	Level 5, 34 Hunter St, Sydney NSW 2000
Mountcastle No. 1 Pty Ltd	109 402 762	Level 5, 34 Hunter St, Sydney NSW 2000
The Point-of-Sale Centre New Zealand Ltd	N/A	483 Rosebank Road, Avondale, AucklandNew Zealand
Aarque Graphics New Zealand Ltd	N/A	8 Te Pai Place, Henderson, Auckland, NewZealand
Ace Graphic Systems Ltd	N/A	as above
Aarcato Properties Ltd	N/A	as above
Digital Management Ltd	NIA.	800 Victoria Street, Hamilton, New Zealand
Digital Filing Solutions 2000 Ltd	N/A	as above
Laser Colour Copy Centres 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 signedand dated 8 December 2004

Secretary, MMC Asset Management Ltd

$\cdot$

$\frac{1}{2}$

$\hat{\boldsymbol{\beta}}$

ANNEXURE B

Name of body corporate	ACN	Address
AM Constable Ltd	098 416 507	Level 8, 34 Hunter St, Sydney NSW 2000
AMC InvestmentManagement Pty Ltd	098 482 216	Level 8, 34 Hunter St, Sydney NSW 2000
M&GIC Pty Ltd	106 477 490	Level 5, 34 Hunter St, Sydney NSW 2000

$\ddot{\phantom{a}}$

This is Annexure A of 1 pages referred to in Form 605 - Notice of ceasing to be a substantial holder signed and dated 8December 2004

Rasse

Secretary, MMC Asset Management Ltd

$\ddot{\phantom{a}}$

ANNEXURE C

Date ofchange	Person whoserelevant interestchanged	Nature ofchange (6)	Considerationaiven inrelation tochange (7)	Class andnumber ofsecuritiesaffected(ordinary fullypaid shares ineach case)	Person'svotesaffected
28/10/2004	MMC SmallCompanies Fund	On-marketpurchase	6,019.80	5,000	5,000
2/11/2004	MMC SmallCompanies Fund	On-marketpurchase	8,186.93	6.800	6,800
5/11/2004	MMC SmallCompanies Fund	On-marketpurchase	153,213.93	109 808	109,808
15/11/2004	MMC InvestmentCompany Limited	On-marketsale	$-138,991.30$	$-86,330$	$-36,330$
6/12/2004	MMC WholesaleAustralian ShareFund	On-marketsale	$-57.489,800.00$	$-3,420,000$	$-3,420,000$
6/12/2004	MMC SmallCompanies Fund	On-marketsale	$-52,347,145.64$	$-1,071,756$	$-1,071,756$
12/02/2004	MMC ValueGrowth Trust	On-marketsale	$-$ $2,663,040.00	$-1,216,000$	$-1, 216,000$
On eachdate asshownabove	Each other personidentified as asubstantial holder	Relevantinterestunder section608(3)ceased whenon-marketsale effected	Nil	Each numbershown above	Each numbershown above

This is Annexure C of 1 pages referred to in Form 605 - Notice of ceasing to be a substantial holdersigned and dated 8 December 2004.

Secretary, MMC Asset Management Ltd