Issue of Equity

RNS Number:7673P
Inter-Alliance Group PLC
15 September 2003

          INTER-ALLIANCE GROUP PLC ("the Company" or "Inter-Alliance")

                                ISSUE OF EQUITY

Under the terms of a Sale and Purchase Agreement dated 12 December 2000 ("the
Agreement"), between Mr D Smith ("the vendor") and Inter-Alliance relating to
the acquisition by Inter-Alliance of Sterling Associates Limited ("Sterling"),
the consideration payable by Inter-Alliance to Mr D Smith is calculated using a
formula based on the profits earned by Sterling for the years ended 31 December
2001, 2002 and 2003. Under the terms of the Agreement, Inter-Alliance has the
option to pay the consideration due either in cash or by issuing ordinary shares
of 1p each in the capital of the Company ("Ordinary Shares").

The Board of Inter-Alliance have reached agreement with Mr D Smith that the
deferred consideration for the year ended 31 December 2002 will amount to
#269,815 and will be paid as to #50,000 in cash and the allotment of 2,198,150
Ordinary Shares.

Application has been made for the 2,198,150 Ordinary Shares to be admitted to
trading on AIM and it is expected that dealings will commence on 22 September
2003.


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