IGO LIMITED — Major Shareholding Notification 2007

Jan 22, 2007

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

$To$ Independence Group NL ACN/ARSN 092 786 304

1. Details of substantial holder

Name	Barclays Group ("Barclays")
ABN	33 001 804 566 (Barclays Global Investors Australia Limited)

There was a change in the interests of the substantial holder on	19 January 2007
The previous notice was given to the company on	22 December 2006
The previous notice was dated	22 December 2006

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 had a relevant interest 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	Previous notice			Present notice
	Person's votes	Voting power	Person's votes	Voting power
Ordinarv	7.718.404	6.82%	6.451.428	5.27%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of 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	Person whose	Nature of	Consideration	Class and number	Person's
change	relevant interest	change	given in relation	of securities	votes
	changed		to change	Affected	affected
19/01/2007	Barclavs	Decrease in	Average price	Ordinary	1.55%
		voting power	\$3.95	(1.266.976)

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Nature of relevant interest	Class and number of securities	Person's votes
Barclays	JP Morgan & other custodians - See Annexure "A"		Ordinary 6.451.428	5.27%

5. Addresses

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

Name	Address
Barclays Global Investors Australia Limited	Level 1, 111 Harrington Street, Sydney NSW 2000

Signature

Company Secretary Barclays Global Investors Australia

$_{-}$ /____________________________________ Date

This is "Annexure A" of 1 page referred to in Form 604 Notice of change of interests of substantial holder

Relevant interest in the Independence Group NL ("IGO") held by the Barclays Group ("Barclays").

ASX	The capital consistent in the control of the capital security of the capital Service	The service of the	ା%…	recent construction of the company of the company of the construction of the company of the company of the company of the company of the company of the company of the company of the company of the company of the company of
CODE	STOCK NAME	HOLDING		COMPANY
IGO.	Independence Group NL	154.591	0.14	IBarclavs Capital Securities Limited
IGO.	Independence Group NL	6.296.837	5.13	Barclays Global Investors Australia Limited
		6.451.428	5.27

The list of Barclays entities and their respective holdings are as follows:

The JP Morgan Chase Bank Inc. and various other custodians (Custodians) hold shares in IGO as custodian and for which Barclavs is either:

• the responsible entity or trustee of pooled investment products such as registered managed investment schemes (Funds); or
• the investment manager of Portfolios held for a number of institutional investors. The institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in IGO was acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

Barclays and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in IGO.

Each investor in a Fund owns an undivided interest in the Fund's assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to Barclays.

Signature

Company Secretary Barclays Global Investors Australia $\frac{1}{2}$ /____________________________________

$\overline{Date}$