INVESTSMART GROUP LIMITED — Major Shareholding Notification 2007

Aug 20, 2007

FACSIMILE TRANSMITTAL SHEET

To:	ASX	From:	Officium Capital
Attn:	Company Secretary	Pages:	7 (including cover sheet)
Fax:	1900 999 279	Date:	21-08-07
Re:	Notice of initial substantial holder	œ
$\Box$ Urgent	$\Box$ For Review	$\Box$ Please Comment	$\Box$ Please Reply

Comments:

Company Secretary,

Please find attached form 603, notice of initial substantial holder.

This form has also been lodged with the relating company.

The information in the facsimile is the property of the sender and is intended for the use of the individual or entity named. If you are not the intended recipient, please note that any disclosure, copying, dissemination o the original documents.

603 page 1/2 15 July 2001

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Fat Prophets Australia Fund Limited
ACN/ARSN	111 772 359
1. Details of substantial holder (1) Name ACN/ARSN (if applicable)	Officium Investments Pty Ltd 097 628 898
The holder became a substantial holder on	21/06/2007

The holder became a substantial holder on

2. Details of 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 (2) had a
relevant interest (3) in on the date the substantial holder

Class of securities (4)	Number of securities	Person's votes (5)	victing power (6)
Ordinary Fully Paid	3.459.967	3.459.967	10.66% -----
Shares

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
	.
See Annexure A	See Annexure A	See Annexure A

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest.	Registered holder of sacurities ---------	Person entitled to be registered as holder (8)	Class and number of securities
See Annexure B	See Annexure B	See Annexure B

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9) ------		Class and number of securities
	$\sim$	Cash ________	Non-cash
. See Amexure A _____
.				.

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable) ----- ----	Nature of association
---	-----

7. Addresses

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

Name	Address
	.
$1.11 - 1.1$ ----	---------

Signature

	MANUM UHOD Grantinia	$Dip$ renk capacity
sign here		$\frac{d}{dx}$ ate $\frac{1}{2}$ / $\frac{1}{6}$ / $\frac{1}{2}$ / $\frac{1}{2}$

DIRECTIONS

• if there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an
  equity trust), the names could be included in an arm m form.
• Ø See the definition of "associate" in section 9 of the Corporations Act 2001.
• Ø) See the definition of "relevant interest" in sections 609 and 671 9(7) of the Corporations Act 2001.
• 侚 The voting shares of a company constitute one class unless divided into separate classes.
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant 伨 interestin.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $\langle 6 \rangle$
• $\boldsymbol{B}$ Include details of:
• 働 any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to Þ, which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". 倒
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become Ø entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the subst the relevant interest was acquired.

Annexure A

Fat Prophets Australia Fund Limited ACN 111 772 359

Holder of relevant interest	Nature of relevant interest	Class and number of securities
Officium Investments Pty Ltd	Select Asset Management Ltd is the registered holder of the securities. Officium Investments Pty Ltd has a relevant interest in more than 20% of the shares in Select Asset Management Ltd and therefore, by virtue of $s608(3)(a)$ has a deemed relevant interest in the securities.	3,459,967 fully paid ordinary shares

This is Annexure A referred to in Form 603 - Notice of initial substantial holder signed and dated 17 August 2007

Steven Forrest

General Counsel

Annexure B

Fat Prophets Australia Fund Limited ACN 111 772 359

Annexure B
Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Class and number of securities
Officium Investments Pty Ltd	Select Asset Management Ltd		3,459,967 fully paid ordinary shares

This is Annexure B referred to in Form 603 - Notice of initial substantial holder signed and dated 17 August 2007

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Steven Forrest

General Counsel

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Annexure C

$\rm{Fat}$ Prophets Australia Fund Limited ACN 111 772 359

Annexure C
Holder of relevant interest	Date of acquisition	Consideration	Class and number of securities
Officium Investments Pty Ltd	Select Asset Management Ltd is the registered holder of the securites. On 21 June 2007 Officium Investments Pty Ltd increased its relevant interest to more than 20% of the shares in Select Asset Management Ltd and therefore, by virtue of $s608(3)(a)$ , was deemed to have a relevant interest in the securities.		3,459,967 fully paid ordinary shares

This is Annexure C referred to in Form 603 - Notice of initial substantial holder signed and dated 17 August 2007

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Steven Forrest

General Counsel

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Annexure D

Fat Prophets Australia Fund Limited ACN 111 772 359

Annexure D
Name	Address
Officium Investments Pty Ltd	c/- RJ Byers & Associates Pty Ltd, 292 Rokeby Road, Subiaco, WA 6008
Select Asset Management Ltd	Level 10, 2 Bulletin Place, Sydney NSW 2000

This is Annexure D referred to in Form 603 - Notice of initial substantial holder signed and dated 17 August 2007

Steven Forrest

General Counsel

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