INVESTSMART GROUP LIMITED — Transaction in Own Shares 2008

Jan 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
FAT PROPHETS AUSTRALIA FUND LIMITED	62 111 772 359

We (the entity) give ASX the following information.

Information about buy-back

1Type of buy-back2Date Appendix 3C was given toASX	ON MARKET 31 OCTOBER 2007

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

3Number of shares bought back orif buy-back is an equal accessscheme, in relation to whichacceptances have been received4Totalconsiderationpaidorpayable for the shares	Before previous day	Previous day
	1,011,366	150,000
	$1,058,622.39	$148,488.40

• See chapter 19 for defined terms.

Appendix 3E Page 1

30/9/2001

Appendix 3E Daily share buy-back notice

5If buy-back is an on-marketbuy-back	Before previous day	Previous day
	highest price paid:$1.0682date:15 November 2007lowest price paid:$0.9913date:18 January 2008	highest price paid:$0.986667lowest price paid:$0.986667highest price allowedunder rule 7.33:$1.0563

Participation by directors

• 6 Deleted 30/9/2001.

How many shares may still be bought back?

7If the company has disclosed anintention to buy back a maximumnumber of shares - the remainingnumber of shares to be boughtback	2,106,726

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.

Sign here: Date: 22 January 2008 Company Secretary Print name: Clare T Porta == == == == ==

• See chapter 19 for defined terms.

Appendix 3E Page 2

30/9/2001