Manchester Unity - Merger Proposal


7 January 2009

Arrows - Red - 2 Merger proposal: Merger Home

Federal Court approves merger of Manchester Unity and HCF

The board is pleased to announce that the merger proposal between Manchester Unity
and HCF has been fully approved and is effective as of 24 December 2008.

The proposal was formally approved by the Federal Court on 19 December 2008.

Manchester Unity's members voted overwhelmingly to approve the proposal to merge
with HCF. At the meeting of members held in Sydney on 15 December 2008, the results
of the postal and online vote were announced.

78% of voting members cast a ballot on the merger proposal, and 99% of these members
voted in favour.

From 24 December 2008, Manchester Unity will operate as a subsidiary of the HCF group.

Eligible members will receive their cash allocation in January 2009. Eligible members' allocations
will be paid according to the option they chose on the Payment Authority Form received with the
ballot papers and Explanatory Memorandum. If eligible members did not return the form, they
will be paid automatically by cheque.

Click here to read the media release regarding the successful merger proposal vote.

If you have any queries regarding this or any other matter, please call Manchester
Unity on 13 13 72.