INVESTSMART GROUP LIMITED — Capital/Financing Update 2005

Apr 18, 2005

Fat Prophets Australia Fund Limited ACN: 111 772 359

19 April 2005

STATEMENT OF FINANCIAL POSITION ON ALLOTMENT

The Statement of Financial Position has been prepared as at the 15 April 2005, upon allotment of Stapled Securities by the Company.

	Final Allotment \$32.185.000
Assets
Cash (Refer below)	31.355.718
Liabilities
Assofs	31,355,718
	31,355,718
	97 4 cents

Cash Position

	Final Allotment \$32,185,000
Initial issue subscribers
Proceeds of Offer	32,185,000
Expenses of Offer
(Refer below)	829.283
Estimated Net Cash Position	31.365.718

Expenses of the Offer

	Final Allotment \$32,185,000
Handling fees	327.409
ASIC Fees and ASX Listing
Fees	79.440
Accounting and Legal	110.110
Other	312.324
Total Expenses of the Offer	829.283

A summary of significant accounting policies, which have been adopted in the preparation of the Statement of Financial Position, are in accordance with Section 4.4 of the Prospectus.

ind Shearward,

David Shearwood Director and Company Secretary