Share Buyback

WAM Capital Limited announced an equal access buy-back scheme on 28 August 2008. Eligible shareholders may tender up to 5.8% of their shareholding at the record date at a price of $1.38 per share. Relevant dates in relation to the Buy-Back are detailed below.

Shares quoted ex-entitlement to participate in the Buy-Back	1 October 2008
Record date to determine entitlements under the Buy-Back	8 October 2008
Buy-Back booklet sent to shareholders	by 13 October 2008
Acceptances close by 5pm	30 October 2008
Payment for shares bought back	7 November 2008

No shareholder will be obliged to participate in the Buy-Back. Shareholders who wish to participate will need to accept by 30 October 2008. Payment for shares bought back will be made 7 November 2008.

Further details are provided in the Buy-Back Booklet which will be sent to shareholders by 13 October 2008.

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