Appendix 3E Daily share buy-back notice

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, 11/01/10

Rule 3.8A

Name of entity ABN/ARSN

HYPERION FLAGSHIP INVESTMENTS LIMITED 99 080 135 913
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

ASX

18 JULY 2011

Total of all shares/units bought back, or in relation to which acceptances have been received, before, and on, previous day Before Monday 16th January 2012 Monday 16th January 2012

3 Number of shares/units bought back or if buy-back is an equal access scheme, in relation to which acceptances have been received

351,755 5,000

4 Total consideration paid or

payable for the shares/units $443,595 $6,000.00

+ See chapter 19 for defined terms.

11/01/2010 Appendix 3E Page 1

Appendix 3E

Daily share buy-back notice

Before Monday 16th

January 2012

Monday 16th

January 2012

5 If buy-back is an on-market buy- back

highest price paid:
date: $1.32
lowest price paid:
date: $1.17
highest price paid:
$1.20
lowest price paid:
$1.20
highest price allowed under rule 7.33:
$1.2486

Participation by directors

6 Deleted 30/9/2001.

How many shares/units may still be bought back?

7 If the company/trust has disclosed an intention to buy back a maximum number of shares/units

- the remaining number of shares/units to be bought back

2,116,401

Compliance statement

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

or, for trusts only:

1. The trust is in compliance with all requirements of the Corporations Act as modified by Class Order 07/422, and of the trust's constitution, 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: 16 Jan 2012
Print name: I W Harrison

+ See chapter 19 for defined terms.

Appendix 3E Page 2 11/01/2010

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