IGO LIMITED — Director's Dealing 2007

Jan 2, 2007

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Independence Group NL
ABN	46 092 786 304

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Oscar Aamodt
Date of last notice	12 August 2005

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct	Indirect
Nature of indirect interest (including registered holder)
Oscar Aamodt & Wendy Heather Phyllis Aamodt (ATF Aamodt Superfund)		20,000 ordinary shares
Date of change	2 January 2007
No. of securities held prior to change	nil	10,000 ordinary shares
Class	ordinary shares
Number acquired	Nil	10,000
Number disposed	Nil	Nil
Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	\$Nil	\$40,100

⁺ See chapter 19 for defined terms.

No. of securities held after change	Nil	20,000 ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back-	On market purchase

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	n/a
Nature of interest	n/a
Name of registered holder (if issued securities)	n/a
Date of change	n/a
No, and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	n/a
Interest acquired	n/a
Interest disposed	n/a
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	n/a
Interest after change	n/a

Innel

3 January 2007

$\overline{\text{C M}\text{ Bonwick}}$ Managing Director

$\overline{a}$

⁺ See chapter 19 for defined terms.