INVESTSMART GROUP LIMITED — Director's Dealing 2005

Dec 22, 2005

Appendix 3X

Rule 3.19A.1

Initial 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 FAT PROPHETS AUSTRALIA FUND LIMITED
ABN	62 111 772 359

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	ANDREW JOHN BROWN
Date of appointment	22 DECEMBER 2005

Part 1 - Director's relevant interests in securities of which the director is the registered holder

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 "notiliable interest of a director" should be disclosed in this part.

Number & class of securities

NIL

⁺ See chapter 19 for defined terms.

Part 2 – Director's relevant interests in securities of which the director is not the registered holder

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

Name of holder & nature of	Number & class of Securities
interest Note: Provide details of the circumstances giving rise to the relevant interest.
ROWE STREET INVESTMENTS	183,273 STAPLED SECURITIES
PTY. LIMITED
(a controlled entity of Trent Capital
Limited)

Part 3 – 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
Nature of interest
Name of registered holder (if issued securities)
No. and class of securities - to which interest relates

$+$ See chapter 19 for defined terms.