INVESTSMART GROUP LIMITED — Transaction in Own Shares 2008

Jan 20, 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

	Information about buy-back	Information about buy-back
	1Type of buy-back		ON MARKET
2Date Appendix 3C wasASX	2Date Appendix 3C wasASX	given to	31 O
				CTOBE	R 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
	963,866	47,500
	$1,011,380.25	$47,242.14

• 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:$1.005date:16 & 17 January2008	highest price paid:$0.9913lowest price paid:$0.9913highest price allowedunder rule 7.33:$1.0605

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 2,256,726 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.

Sign here: Date: 21 January 2008 Company Secretary Print name: Clare T Porta == == == == ==

• See chapter 19 for defined terms.

Appendix 3E Page 2

30/9/2001