SCHOOLBLAZER LIMITED — Major Shareholding Notification 2007

Sep 13, 2007

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Level 5, 34 Hunter Street Phone: +612 9221 7155 Sydney NSW 2000 Fax: +612 9233 2713 GPO Box 4406 Email: hgl@hgl.com.au Sydney NSW 2001 Web: www.hgl.com.au

14 September 2007

Ms Ouafaa Karim Secretary Hunter Hall International Limited Level 2 60 Castlereagh Street SYDNEY NSW 2000

Dear Ms Karim

We enclose a Form 604 – Notice of change of interests of substantial holder given by HGL’s 100% owned subsidiary HGL Group Pty Limited. This notice has been necessitated by the dilution of HGL’s shareholding due to HHL’s increases in its share capital.

Yours faithfully HGL Limited

Peter Caldelis Secretary

HGL Limited ABN 25 009 657 961

investing in businesses

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme

Hunter Hall International Limited

ACN/ARSN

059 300 426

1. Details of substantial holder (1)

Name HGL Group Pty Limited and each body corporate listed in Annexure A ACN/ARSN (if applicable) 079 732 068

There was a change in the interests of the substantial holder on

12 September 2007

The previous notice was given to the company on 18 March 2003

The previous notice was dated 18 March 2003

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Ordinaryfully paid shares	1,575,523	6.87%	1,480,635	5.85%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate 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 (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person’s votes affected
Refer Annexure B

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes
Refer Annexure C

page 2/2 15 July 2001

604

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) 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

6. Addresses

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

Name	Address
HGL GroupPtyLimited	Level 5,34 Hunter Street SydneyNSW 2000
Julian Constable	15 Eastgate Avenue,Killara NSW 2071
Julian Constable Bear Trust	15 Eastgate Avenue,Killara NSW 2071
Kevin Eley as trustee for the KJ Eley Superannuation Fund	Level 5, 34 Hunter Street Sydney NSW 2000

Signature

print name Peter Caldelis capacity Secretary
sign here date 14 September 2007
DIRECTIONS
ber of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and
ity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially
be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of
y set out in paragraph 6 of the form.
of “associate” in section 9 of the Corporations Act 2001.
of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.
s of a company constitute one class unless divided into separate classes.
es divided by the total votes in the body corporate or scheme multiplied by 100.
:
vant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a
any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any
scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or
ment; and
ification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of
rities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
of “relevant agreement” in section 9 of the Corporations Act 2001.
nsideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or
itled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a
tails must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if
directly to the person from whom the relevant interest was acquired.
holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown”.
propriate, of the present association and any change in that association since the last substantial holding notice.

• (1) If there are a number of substantial holders with similar or related relevant 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 6 of the form.

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

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

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

• (5) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) 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.

• (7) 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.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown”.

• (9) 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
HGL CompanyFour PtyLtd	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

1

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
Aarcato Properties Ltd	N/A	as above

This is Annexure A of 2 pages referred to in Form 604 - Notice of change of interests of substantial holder signed and dated 14 September 2007.

Peter Caldelis Secretary HGL Group Pty Limited

2

ANNEXURE B

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7) – Cash ($)	Class and Number of securities affected – (Ordinary shares in each case)	Person’s votes affected
7 April 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(5,005.00)	(1,300)	(1,300)
8 April 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(54,244.68)	(13,986)	(13,986)
30 April 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(38,500.00)	(10,000)	(10,000)
9 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(56,533.71)	(13,640)	(13,640)
10 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(31,132.80)	(7,360)	(7,360)
11 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(8,866.08)	(2,096)	(2,096)
12 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(55,433.00)	(13,100)	(13,100)
15 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(42,300.00)	(10,000)	(10,000)
19 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(16,920.00)	(4,000)	(4,000)
22 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(37,008.27)	(8,749)	(8,749)
23 September 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(4,462.65)	(1,055)	(1,055)
23 October 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(29,160.00)	(6,480)	(6,480)
27 October 2003	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(4,540.50)	(1,009)	(1,009)

ANNEXURE B – continued

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7) – Cash ($)	Class and Number of securities affected – (Ordinary shares in each case)	Person’s votes affected
27 March 2006	HGL Group Pty Ltd and each body corporate listed in Annexure A	On market sale	(55,300.00)	(7,000)	(7,000)
11 April 2003	Julian Constable	DRP	187.24	154	154
28 July 2003	Julian Constable	On market purchase	11,010.23	3,000	3,000
26 September 2003	Julian Constable	DRP	221.67	57	57
5 December 2003	Julian Constable	On market sale	(9,980.00)	(2,000)	(2,000)
6 January 2004	Julian Constable	On market sale	(5,574.20)	(1,033)	(1,033)
23 March 2004	Julian Constable	DRP	512.07	81	81
17 September 2004	Julian Constable	DRP	314.14	50	50
23 March 2005	Julian Constable	DRP	385.77	54	54
19 September 2005	Julian Constable	DRP	460.98	79	79
31 March 2006	Julian Constable	DRP	495.93	71	71
29 September 2006	Julian Constable	DRP	687.96	78	78
30 March 2007	Julian Constable	DRP	484.70	40	40
11 April 2003	Julian Constable Bear Trust	DRP	363.99	156	156
26 September 2003	Julian Constable Bear Trust	DRP	74.56	35	35
23 March 2004	Julian Constable Bear Trust	DRP	415.72	67	67
17 September 2004	Julian Constable Bear Trust	DRP	255.20	41	41
3 February 2005	Julian Constable Bear Trust	On market purchase	21,660.00	3,000	3,000
23 March 2005	Julian Constable Bear Trust	DRP	814.46	92	92
19 September 2005	Julian Constable Bear Trust	DRP	968.96	166	166
31 March 2006	Julian Constable Bear Trust	DRP	1,042.41	151	151

2

ANNEXURE B – continued

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7) – Cash ($)	Class and Number of securities affected – (Ordinary shares in each case)	Person’s votes affected
29 September 2006	Julian Constable Bear Trust	DRP	1,446.48	164	164
30 March 2007	Julian Constable Bear Trust	DRP	1,019.15	83	83
30 March 2007	KJ Eley as trustee for the KJ Eley Superannuation Fund	DRP	3,740.00	301	301

This is Annexure B of 3 pages referred to in Form 604 - Notice of change of interests of substantial holder signed and dated 14 September 2007.

Peter Caldelis Secretary HGL Group Pty Limited

3

ANNEXURE C

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and Number of securities affected – (Ordinary shares in each case)	Person’s votes
HGL Group Pty Ltd and each body corporate listed in Annexure A	HGL Group Pty Ltd	HGL Group Pty Ltd	Legal & beneficial owner	1,452,169	1,452,169
Julian Constable	Julian Constable	Julian Constable	Legal & beneficial owner	2,631	2,631
Julian Constable Bear Trust	Julian Constable	Julian Constable	Registered holder	5,534	5,534
KJ Eley as trustee for the KJ Eley Superannuation Fund	KJ Eley as trustee for the KJ Eley Superannuation Fund	KJ Eley as trustee for the KJ Eley Superannuation Fund	Registered holder	20,301	20,301

This is Annexure C of 1 page referred to in Form 604 - Notice of change of interests of substantial holder signed and dated 14 September 2007.

Peter Caldelis Secretary HGL Group Pty Limited