Inter-Atlantic Financial, Inc. Plan of Compliance Accepted by Exchange

Inter-Atlantic Financial, Inc. (NYSE Amex: IAN) (the “Company”) received notice from the NYSE Amex, LLC (“Exchange”) on February 10, 2009, indicating that it was not in compliance with Section 704 of the NYSE Amex Company Guide (the “Company Guide”) because the Company did not hold an annual meeting of its stockholders during the year ended December 31, 2008. The Company was afforded the opportunity to submit a plan of compliance to the Exchange and on March 9, 2009 presented its plan to the Exchange. On May 4, 2009 the Exchange notified the Company that it accepted the Company’s plan of compliance and granted the Company an extension until August 11, 2009 to regain compliance with the continued listing standards. The Company will be subject to periodic review by Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE Amex LLC.

About Inter-Atlantic Financial, Inc.

Inter-Atlantic Financial, Inc. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination with one or more operating businesses in the financial services industry. On April 23, 2009 the Company entered into a definitive stock purchase agreement with Patriot Risk Management, Inc. The proposed transaction is subject to stockholder approval, regulatory approval and other closing conditions.

Forward-Looking Statements

This announcement contains forward-looking statements that involve known and unknown risks and uncertainties. A discussion of various factors that could cause the Company's actual results, levels of activity, performance or achievements to differ materially from those expressed in such forward-looking statements are included in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.

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