good announcement, page-7

Hi,

I am a MCR shareholder and it has been frustrating watching the share price drifting down over the past few months.

There are a lot of sellers however I believe that the AMP portfolio of Super Funds has taken control of the price of this stock and are controlling the buying and selling to book profits in some of their funds and buy in others.

As at 4 Nov 2004 AMP owned 16,984,808 shares or 8.75% of the company.

In the past 6 months there have been 5 MCR:ASX announcements for change in sunstantial holding, all being from AMP on 10 June, 10 Aug, 6 Oct, 14 Oct and 4 Nov.

The pattern from these announcements is that they do accumulation for various funds listed and then go on a sellin spree for other listed funds, hence controlling the buying and selling.

They have not put an announcement out on their holding since 4 Nov, so could be one coming soon. From the recent selling I would expect that they are now reducing their overall holdings.

All in all very frustrating watching them do their balancing acts.

Cheers
Nic