MMC Contrarian Limited

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Date	Type	Dividend and Capital Return History per share ($)	Franking
13 September 2004	Final	$0.01	Franked
8 March 2005	Interim	$0.015	Franked
2 September 2005	Final	$0.02	Franked
6 March 2006	Interim	$0.03	Franked
1 September 2006	Final	$0.03	Franked
5 March 2007	Interim	$0.04	Franked
27 September 2007	Final	$0.04	Franked
22 February 2008	Capital Return	$0.10	-
28 March 2008	Interim	$0.04	Franked
29 October 2008	Equal access share buy-back*	Refer below	-
Total since inception (Dec 2003)	-	$0.325	-

*At the Company's AGM held on 23 October 2008, shareholders approved the return of $75 million of capital through an equal access share buy-back programme. The share buy-back was executed by the Company on 29 October 2008.

The terms of the equal access share buy-back included a right for all shareholders to participate at a price equivalent to the Company's pre-tax net tangible asset backing at 30 September 2008, being 70.9 cents. The full amount of the buy-back was debited against the share capital account in accordance with the ATO Class Ruling obtained in December 2008.

The Dividend Reinvestment Plan has been suspended since 26 February 2008 and the Board will continue to evaluate its capital position on a regular basis.