IGO LIMITED — Major Shareholding Notification 2005

Oct 11, 2005

INVESTMENT MANAGEMENT LTD

Level 30, Aurora Place 88 Phillip Street SYDNEY NSW 2000 Ph: 612 8248-5500 Fax: 612 8248-5555

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facsimile transmittal

To:	Company Announcements	Fax:	02 9241 7620
From:	Errol Martis	Date:	11/10/2005
Re:	Form 604	Pages:	4 (including cover page)
CC:

Message:

Please find attached Form 604 being the notice of change of interests of substantial holder.

Kind Regards

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61 2 8248 5555

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

To: Company Name/Sch em e	Independence Group FPO
	46 092 786 304

ACN/ARSN

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Details of substantial holder (1)

Name	MIR Investment Management Limited ("MIR")
ACN (if applicable)	47 104 642 613
There was a change in the interests of the substantial holder on:	10/10/2005
The previous notice was given to the company on	23/08/2005
The previous notice was dated	23/08/2005

$\overline{2}$ . Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of Securities (4)	Previous potice		Present notice
	Person's votes	Voting power $(5)$	Person's votes	Voting power (5)
Ordinary	7,338,080	6.79%	9,380,930	8.64%

$3.$ Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest or the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Naure of change(6)	Consideration given in relation to change	Class and number of accuricies affected	Person's votes affected
10/10/2005	MIR	On murket purchase of ordinary shares	3.125.560	2,042,850 ordinary shares	2.042,850 ordinary shares

$\ddot{ }$ Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

(8) securities
-------------------

MR	These holders listed in Annexure A	61 2 8248 5555 Those holders listed in America A	MIR has the power exembe, or $\boldsymbol{\omega}$ control the exercise of, a right to vote attached to Úе. securities	$Ordinary -$ 9,380,930	9.180.930

5. Changes in association

The persons who have become associates (2) of, cessed to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN (if applicable)	Nature of association
Not Applicable	Not Applicable

Ġ. Addresses

Address Name
MIR	Level 30. Aurora Place,
	88 Phillip Street, Sydney, NSW 2000

The addresses of persons named in this form are as follows:

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Directions

WIELWEE

• If there are a number of substantial shareholders with similar or related relevant interests (eg, a corporation and its related corporations, or $\mathbf{1}$ the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of mombers, is clearly set out in paragraph 6 of the form.
• $\overline{\mathbf{2}}$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $\mathbf{3}$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $\blacktriangle$ The voting shares of a company constitute one class unless divided into separate classes.
• The person's votes divided by the total votes in the body corporate or schome multiplied by 100. $\mathsf{\Sigma}$
• 1. Include details of:
• $\bf(a)$ any relevant agreement or other circumstances by which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or anangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposel of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

286780-VIVSYDDMSDMC 10 10 2005

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ANNEXURE A

Present registered Holders are detailed below:

BNP Paribas Securities Services National Custodian Services UBS Nominees Pry Limited State Street Australia Limited IP Morgan Australia Limited Westpac Custodian Nominees Limited

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