You will get a popup window with a message that tells you that you have discovered a magic fish. It will give the name of the fish and the benefits that the fish brings. If you want to have the benefit of a magic fish in a particular tank, you must keep one of those fish in your tank. The picture and name of the fish will also be added to the trophy case.

You can share fish, via infrared beaming, with another Palm device that's running Fish Tycoon. To send a fish, put one in the isolation tank and tap the Beam icon near the trash can. To receive a fish, tap the Beam icon when your isolation tank is empty and Fish Tycoon will prepare itself to receive a fish. I like the beaming function; it's fun to watch!