MFS Limited ABN 90 107 863 436 ASX & MEDIA ANNOUNCEMENT NEW DIRECTORS 18 March 2008 MFS Limited (ASX: MFS) is pleased to announce that it has reached agreement with interests associated with Mr Chris Scott over the composition of the MFS Board. As a result, the Board has invited Mr Scott, Mr David Burke and Mr Craig Chapman to become directors of the Company. The MFS Board looks forward to working with the new directors in the best interests of the Company and all shareholders. As a consequence Mr Scott has agreed to cancel the Extraordinary General Meeting called for 7 April 2008. This meeting will now not be held. The decision to invite Messrs Scott, Burke and Chapman to become directors follows negotiations between Mr Scott’s representatives and the Company. Mr Scott’s adviser, Ms Jenny Hutson, said the agreement to move forward together was in everybody’s best interests. Ms Hutson said she was confident the new directors would work well with the existing directors to ensure the MFS Board was focused on the best interests of both shareholders and the Company. The three new directors will be subject to re-election by shareholders at the next Annual General Meeting of MFS, expected to be held in November. An update on the strategic review of the MFS business will be provided at the Extraordinary General Meeting of shareholders on 28 March 2008 to vote on a proposal to change the Company’s name to Octaviar Limited. For further information, please contact: John Hurst, MFS Limited Phone: 02 8259 7257
MFS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held