INVESTSMART GROUP LIMITED — Regulatory Filings 2008

Jul 21, 2008

Appendix 3E Daily share buy-back notice

Rule 3.8A

Appendix 3E

Daily share buy-back notice ( except minimum holding buy-back and selective buy-back)

Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/9/99. Origin: rule 3.6, Appendix 7C. Amended 30/9/2001.

Name of entity FAT PROPHETS AUSTRALIA FUND LIMITED

ABN 62 111 772 359

We (the entity) give ASX the following information.

Information about buy-back

• 1 Type of buy-back ON MARKET

• 2 Date Appendix 3C was given to 31 OCTOBER 2007

• ASX

Total of all shares bought back, or in relation to which acceptances have been received, before, and on, previous day

• Before previous day Previous day

• 3 Number of shares bought back or if buy-back is an equal access 1,492,323 50,000 scheme, in relation to which acceptances have been received

• 4 Total consideration paid or payable for the shares $1,525,910.48 $45,900.98

• See chapter 19 for defined terms.

Appendix 3E Page 1

30/9/2001

Appendix 3E Daily share buy-back notice

5 If buy-back is an on-market buy-back	Before previous day	Previous day
	highest price paid:$1.0682 date:15 November 2007 lowest price paid:$0.91 date:25 March 2008	highest price paid: $0.915 lowest price paid: $0.915 highest price allowed under rule 7.33: $0.9639

Participation by directors

• 6 Deleted 30/9/2001.

How many shares may still be bought back?

7 If the company has disclosed an intention to buy back a maximum 1,725,769 number of shares - the remaining number of shares to be bought back

Compliance statement

1. The company is in compliance with all Corporations Act requirements relevant to this buy-back.

2. There is no information that the listing rules require to be disclosed that has not already been disclosed, or is not contained in, or attached to, this form.

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Sign here: Date: 21 July 2008
Company Secretary
Print name: Angus Begg
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• See chapter 19 for defined terms.

Appendix 3E Page 2

30/9/2001