INVESTSMART GROUP LIMITED — Director's Dealing 2006

Feb 20, 2006

Appendix 3Y

Rule 3.19A.2

Change of 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.
IA BN	62 111 772 359

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	ROBERT JOHN BOLTON
Date of last notice	20 April 2005

Part 1 - Change of director's relevant interests in securities

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

Direct or indirect interest	Indirect
Nature of indirect inferest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Balcony Investments Pty Ltd (ABN 52 089 449 128). Robert Bolton is the sole Director of this entity.
Date of change	20 February 2006
No. of securities held prior to change	15,000 Stapled Securities
Class	Stapled Securities
Number acquired	5,300
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$5,088

⁺ See chapter 19 for defined terms.

No. of securities held after change	20,300
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On Market Trade

Part 2 - Change of 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)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.