SCHOOLBLAZER LIMITED — Major Shareholding Notification 2007

Feb 4, 2007

Level 5, 34 Hunter Street | Phone: +612 9221 7155 Sydney NSW 2000 Fax: +612 9233 2713 GPO Box 4406 Sydney NSW 2001

| Email: hgl@hgl.com.au | $|$ Web: www.hgl.com.au $|$

5 February 2007

Mr Nick Geddes The Secretary Calliden Group Limited Level 3, Building B 207 Pacific Highway St Leonards NSW 2065

By Facsimile

Dear Mr Geddes

On 1 February 2007 MMC Contrarian Limited acquired 100% of MMC Asset Management Limited. As a consequence on this date HGL Limited ceased to be a shareholder in MMC Asset Management Limited.

Accordingly, we enclose Form 604 Notice of Change of Interest of a Substantial Holder which reflects the above, plus all share purchases since our previous announcement on 22 March 2004.

Yours faithfully HGL Limited

Peter Caldelis Secretary

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Calliden Group Limited
ACN/ARSN	061 215 601
1. Details of substantial holder (1)
Name	HGL Ltd (ACN 009 657 961) and each body corporate it controls listed in Annexure A-1.
ACN/ARSN (if applicable)	Wheelmar Distributors Pty Ltd (ACN 000 477 387)2.
	Sery Pty Ltd (ACN 008 392 989)-3.
	F M Wolf Pty Ltd (ACN 068 838 880) (as trustee of a superannuation fund)-4.
	Julian David Constable-5.
There was a change in the interests of thesubstantial holder on	01/02/2007
The previous notice was given to the company on $22/03/2004$
The previous notice was dated	22/03/2004

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		Present notice
	Voting power $(5)$Person's votes		Person's votes	Voting power $(5)$
Ordinary fully paid shares	15,622,966	7.77%	16,598,523	8.26%

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 ofchange	Person whoserelevant interestchanged	Nature of change $(6)$	Considerationgiven in relationto change $(7)$	Class andnumber ofsecuritiesaffected(ordinary fully)paid shares ineach case)	Person'svotesaffected
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 ofrelevantinterest	Registered holderof securities	Person entitled tobe registered asholder $(8)$	Nature of relevantinterest $(6)$	Class andnumber ofsecurities	Person's votes
Refer Annexure C

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
n/a	n/a

6. Addresses

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

Name.	Address
HGL Ltd	Level 5, 34 Hunter St, Sydney NSW 2000
Wheelmar Distributors Pty Ltd	432 Elizabeth St, Surry Hills NSW 2010
Sery Pty Ltd	432 Elizabeth St, Surry Hills NSW 2010
FM Wolf Pty Ltd	13 The Battlement, Castlecrag NSW 2068
Uulian Constable	15 Eastgate Ave, Killara NSW 2071

Signature

Peter Caldelis print name

capacity Secretary - HGL Limited

sign here

date 05/02/2007

DIRECTIONS

• $(1)$ 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.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ 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:
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a $\left( a\right)$ 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
  • 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 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.
• 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 $(7)$ 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.
• 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". $(8)$
• $(9)$ 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 Group Superanmuation Fund Pty Ltd	003 185 993	Level 5, 34 Hunter St, Sydney NSW 2000
Kinsole Pty Ltd	003 516 452	as above
Garnet 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
Leutenegger Pty Ltd	056 512 031	as above
Craigie Securities Pty Ltd	009 950 181	as above
Mounteastle Holdings Pty Ltd	009 950 190	as above
Mountcastle Pty Ltd	009 661 643	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
AMCLA 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

ANNEXURE A - continued

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
Trutex Pty Ltd	109 402 762	Level 5, 34 Hunter St, Sydney NSW 2000
Baker & McAuliffe Holdings Pty Limited	059 756 811	Level 5, 34 Hunter St, Sydney NSW 2000
The Point-of-Sale Centre New Zealand Ltd	N/A	483 Rosebank Road, Avondale, Auckland NewZealand
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	N/A	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 604 - Notice of change of interests of substantial holder signed and dated 5 February 2007.

Peter CaldelisSecretary HGL Limited

ANNEXURE B

Date ofchange	Person whoserelevantinterestchanged	Nature ofchange (6)	Considerationgiven inrelation tochange (7)	Class andnumber ofsecuritiesaffected(ordinary fullypaid shares ineach case)	Person'svotes affected
30/9/05	HGL CompanySix Pty Limited	On market buy	45,868.84	125,668	125,668
5/10/05	HGL CompanySix Pty Limited	On market buy	85,246.16	224,332	224,332
8/12/05	HGL Group PtyLimited	On market buy	30,153.6	94,230	94,230
12/12/05	HGL Group PtvLimited	On market buy	4,950.00	15,000	15,000
13/12/05	HGL Group PtyLimited	On market buy	6,600.00	20,000	20,000
14/12/05	HGL Group PtyLimited	On market buy	34,450.35	104,395	104,395
16/12/05	HGL Group PtyLimited	On market buy	944.52	2,778	2,778
20/12/05	HGL Group PtyLimited	On market buy	66,789.80	192,470	192,470
22/12/05	HGL Group PtyLimited	On market buy	11,628.34	34,201	34,201
6/9/06	HGL Group PtyLimited	On market buy	160,000.00	400,000	400,000
7/9/06	HGL Group PtyLimited	On market buy	113,666.80	284,167	284,167
8/9/06	HGL Group PtyLimited	On market buy	6,333.20	15,833	15,833
24/10/06	HGL Group PtyLimited	On market buy	58,851.09	136,863	136,863

This is Annexure B of 1 page referred to in Form 604 - Notice of change of interests of substantial holder signed and dated 5February 2007.

Peter Caldelis Secretary HGL Limited

ANNEXURE C

Holder ofrelevantinterest	Registeredholder ofsecurities	Personentitled to beregistered asholder (8)	Nature ofrelevantinterest (6)	Class andnumber ofsecuritiesaffected(ordinary fullypaid shares ineach case)	Person'svotes
HGL Limitedand bodiescorporate inAnnexure A	HGL CompanySix Pty Limited	HGL CompanySix Pty Limited	HGL controlsHGL CompanySix Pty Limitedwhich is theholder	13,850,000	13,850,000
HGL Limitedand bodiescorporate inAnnexure A	HGL Group PtyLimited	HGL Group PtyLimited	HGL controlsHGL Group PtyLimited whichis the holder	1,299,937	1,299,937
WheelmarDistributors PtyLimited	WheelmarDistributors PtyLimited	WheelmarDistributors PtyLimited	holder	750,000	750,000
Sery PtyLimited	Sery PtyLimited	Sery PtyLimited	holder	500,000	500,000
FM Wolf PtyLimited	FM Wolf PtyLimited	FM Wolf PtyLimited	holder	100,000	100,000
JulianConstable	JulianConstable	JulianConstable	holder	98,586	98,586

This is Annexure C of 1 page referred to in Form 604 - Notice of change of interests of substantial holder signed and dated 5 February 2007.

Peter CaldelisSecretaryHGL Limited