INVESTSMART GROUP LIMITED — Major Shareholding Notification 2011

Nov 21, 2011

Form 605

Corporations Law Section 671B Notice of ceasing to be a substantial holder

To: Company Name/Scheme Merricks Capital Special Opportunity Fund Limited

ACN /ARSN

111 772 359

1. Details of substantial holder (1)

Name Bank of America Corporation and its related bodies corporate

ACN/ARSN (if applicable):

The holder ceased to be a substantial shareholder on

The previous notice was given to the company on

The previous notice was dated

18 November 2011 29 March 2011 23 March 2011

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whose relevantinterest changed	Nature ofChange (4)	Considerationgiven in relationto change (5)	Class (6) andNumber ofsecurities affected	Person’svotesaffected
12-Apr-2011	Merrill Lynch InternationalLtd	Securitiesreturned	N/A	Ordinary(1,906,973)	(1,906,973)
12-Apr-2011	Merrill Lynch International(Australia) Ltd	Securitiesborrowed	N/A	Ordinary1,906,973	1,906,973
24-May-2011	Merrill Lynch International(Australia) Ltd	Securitiesreturned	N/A	Ordinary(274,945)	(274,945)
18-Nov-2011	Merrill Lynch International(Australia) Ltd	Securitiesreturned	N/A	Ordinary(1,632,028)	(1,632,028)

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

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

4. Addresses

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

Name	Address
Bank of America Corporation	100 North Tryon Street, Charlotte, North Carolina, 28255, USA
Merrill Lynch (Australia) Futures Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW2000, Australia
Merrill Lynch (Australia) Nominees Pty Ltd	Level 19, 120 Collins St, Melbourne Vic 3000, Australia
Merrill Lynch International (Australia) Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW2000, Australia
MLEQ Nominees Pty Ltd	Level 38, Governor Phillip Tower, 1 Farrer Place, Sydney NSW2000, Australia

SIGNATURE

Print Name:Sign Here:	Fiona ChengCapacity:Authorised signatory
	Date:22 November 2011

Appendix: Prescribed information

Type ofagreement	Prime Brokerage Agreement / Global Master SecuritiesLending Agreement
Parties toagreement	Merrill Lynch International, Merrill Lynch International(Australia) Limited and Merricks Capital Pty Limited asTrustee of the Merricks Capital Long/Short Equity Fund
Transfer date	For the period from 24 March 2011 to 18 November 2011.
Holder ofvoting rights	Securities borrower. Securities lender may instruct theregistered holder to vote on securities.
Are there anyrestrictions onvoting rights?	No
If yes, detail	N/A
Scheduledreturn date (ifany)	On recall of the securities loan by the securities lender.
Does theborrower havethe right toreturn early?	Yes
If yes, detail	Securities borrower will have right to return assets at anytime.
Does thelender havethe right torecall early?	Yes
If yes, detail	Securities lender will have right to recall assets at anytime.
Will thesecurities bereturned onsettlement?	Yes
If yes, detailany exceptions	N/A