INVESTSMART GROUP LIMITED — Transaction in Own Shares 2007

Feb 22, 2007

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	ABN
I FAT PROPHETS AUSTRALIA FUND LIMITED.	62 111 772 359

We (the entity) give ASX the following information.

Information about buy-back

$\mathbf{1}$ Type of buy-back

ON MARKET

$\overline{2}$ Date Appendix 3C was given to ASX

13 SEPTEMBER 2006

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 scheme, in relation to which acceptances have been received	541,984	132,400
4	Total consideration paid or payable for the shares	\$522,742.60	\$132,890.06

$\div$ See chapter 19 for defined terms.

		Before previous day	Previous day
5.	If buy-back is an on-market buy- back	highest price paid: \$0.98 date: 15 November 2006	paid: highest price \$1.0004
		lowest price paid: \$0.93 date: 11 October 2006	paid: lowest price \$1.0004
			highest price allowed under rule $7.33$ : \$1.03740

Participation by directors

6 Deleted 30/9/2001.

How many shares may still be bought back?

$\overline{\tau}$ If the company has disclosed an intention to buy back a maximum number of shares - the remaining number of shares to be bought back

2,544,116

Compliance statement

• $\mathbf{I}$ . 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.

$\equiv$ $\equiv$ $\equiv$ $\equiv$ $\equiv$ $\equiv$ $\equiv$

7 Porta trie.

Company Secretary

Date: 23 February 2007

Print name:

Sign here: .

Clare T Porta

$\div$ See chapter 19 for defined terms.