Share Option Arrangements

RNS Number:3966S
Inter-Alliance Group PLC
24 November 2003



                    INTER-ALLIANCE GROUP PLC ("THE COMPANY")

                           SHARE  OPTION ARRANGEMENTS


Further to the announcement dated 17 November 2003 concerning the option
arrangements and the extension until noon on 21 November 2003 of the offer to
option holders who had not had the opportunity to respond to the Company's
original offer to surrender their options, the company now announces that

Options over 418,097 ordinary shares of 1 pence each ("Ordinary Shares") were
surrendered during this extension period and new options over 3,891,807 Ordinary
Shares were granted on Friday 21 November 2003 at an option price of 2.875 pence
each, being the price at which the options were granted on 14 November 2003.
There are now 79,158,569 Ordinary Shares under option representing 8.72 per
cent. of the current issued share capital of the Company.

The directors confirm that there will be no further grants under this surrender
and re-grant exercise.

ENDS

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END

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