MBF GROUP

for Australian residents the ATO has agreed to allow you to lodge your 2007/2008 tax return without including any capital gain arising from your Entitlement in MBF - the ATO and MBF will let you know what amount (if any) to include in your tax return and how to do this, at a later time - you should not wait for this information to complete your 2007/2008 tax return - the ATO has also stated that no penalty will be imposed on your amended assessment (if you end up needing to do one) and any interest payable up to the due date of your amended assessment will also be reduced to nil

the cash entitlements are sent to Participating Contributors

the businesses of the MBF Group and Bupa Australia Group are combined and the demutualisation of MBF takes place

MBF is converted to a company limited by shares

participating contributors in MBF vote in favour of the proposal from Bupa Australia to combine the businesses of the MBF Group and Bupa Australia Group

MBF Board recommends a $2.41 billion proposal from Bupa Australia to combine the businesses of the MBF Group and Bupa Australia Group (the "Scheme")