IGO LIMITED — Share Issue/Capital Change 2006

Jul 3, 2006

4^th July 2006

Australian Stock Exchange Limited PO Box H224 Australia Square NSW 1215

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Attention: Mr Nicholas Ong

Re: Cancellation of Unlisted Options (ASX Code: IGOAU)

Dear Nicholas,

Independence Group NL had unlisted options exercisable at \$0.45 each with the ASX code IGOAU and an expiry date of 30 June 2006.

As the options were not exercised prior to the expiry date, they have been cancelled.

Please amend our Unquoted Securities accordingly, by removing the 250,000 options shown under the code IGOAU.

Yours sincerely.

and the same of the same state of the same state of the same state of the same state of the same state of the

Kelly Ross Company Secretary