Further re: Restoration and proposed delisting from AIM

    5 September 2008

               Independent International Investment Research Plc               

                        ("the Company" or "the Group")                         

            Further Re. Restoration and proposed delisting from AIM            

Further to the announcement issued on 1 September 2008, in which the Directors
announced that they would be seeking shareholder approval to cancel trading in
the Company's shares on the AIM market, the Company announces that it is
sending a circular to shareholders today containing a notice of an annual
general meeting at which a resolution will be put to shareholders to cancel the
trading in the Company's shares. The key factors that the Board considered in
arriving at that decision were:

- Direct costs of maintaining the Group's public listing have risen sharply in
2008 and the Directors estimate that the Group could make cash savings of in
excess of £125,000 per year moving forward. This equates to more than 6.6 per
cent. of 2008 turnover and represents 64 per cent. of 2008 pre-tax losses.
Furthermore, the Directors estimate that management time costs relating to the
Company's public listing of approximately £75,000 could be deployed on other
corporate activities to the benefit of the Company.

- Liquidity of the Company's shares is modest. Whilst AIM is widely regarded as
the most successful early-stage/smaller quoted company market in the world,
this is a problem that is particularly pronounced in situations of a small
free-float on all exchanges, and ironically the Company is probably the only
company on London Stock Exchange that cannot benefit from its recently
announced PSQ Analytics initiative, by virtue of the Group being a
participating Research Provider.

- Conditions for new fundraisings across global markets are not currently
hospitable. In the absence of further fundraising, the liquidity of the
Company's shares is unlikely to improve.

- Considering both a progressive weakening of the Board of directors over the
last eighteen months together with obstacles to raising new funding, the Group
now finds itself in a significantly weaker position as a potential consolidator
of smaller research businesses in the highly fragmented research industry,
which was a key component of the growth strategy laid out in the Group's 2007
report and accounts. At the same time the opportunities that present themselves
for organic growth are now perceived to be significantly greater and it is the
view of the Board that these opportunities should be the Group's first priority
for the benefit of all stakeholders.

- In the absence of a consolidation strategy, the attraction of quoted shares
as an acquisition currency is extinguished and whilst we expect strong organic
growth, the Group would remain small by quoted company standards for some years
to come.

- Matters relating to maintaining a public listing are consuming an increasing
amount of key executive time, at the direct expense of organic growth through
new business development.

- Combining the results of a focus on new business initiatives, together with
the elimination of costs and other overheads of the regulatory obligations
associated with a public listing, might enhance the appeal of the Group to
larger research operators as an acquisition target. Your Board would entertain
any such opportunities that might provide a faster growth and development
route.

- An Employee Share Ownership Scheme in the UK and a comparable scheme for the
Group's India-based staff to be awarded stock options, has proved less
effective than expected in moderating attrition levels and whilst the scheme
will not change, the cost of maintaining a quoted market for the Group's shares
for the purposes of the scheme is not justified.

The principal effects of the cancellation of trading on AIM would be:

(a) there would no longer be a formal market mechanism enabling the
shareholders to trade their shares through the AIM market and the CREST
facility will be cancelled;

(b) the Company would not be bound to announce material events, nor to announce
interim or final results; and

(c) the Company would no longer be required to comply with any of the corporate
governance requirements for quoted companies.

The Board will:

(a) consider how best to implement a share dealing service for shareholders and
further notification will be made if appropriate;

(b) continue to post information relating to the Company on the Company's
website in a timely and informative fashion;

(c) continue to hold general meetings in accordance with the applicable
statutory requirements and the Company's articles; and

(d) continue to send shareholders copies of the Company's audited accounts.

Under the AIM Rules, it is a requirement that cancellation of admission to
trading on AIM must be approved by not less than 75 per cent. of shareholders
voting in general meeting. Accordingly, the Directors have convened an Annual
General Meeting at 10.00 a.m. on 29 September 2008. The notice of AGM
accompanies the Company's annual report and accounts for the year ended 29
February 2008 and contains a special resolution to approve the application to
the London Stock Exchange for cancellation of admission of the Company's shares
to AIM. If the resolution is approved, it is expected that Cancellation will
take effect on 7 October 2008, being six business days after the AGM.

A circular to shareholder's setting out the reasons for delisting and including
the notice of AGM has been sent to shareholders today with the Company's annual
report and accounts for the year ended 29 February 2008. Copies of both
documents are available from the Company's website www.iirgroup.com.

Under the AIM Rules, the annual report and accounts for the year ended 29
February 2008 should have been published by 31 August 2008. As the Company did
not publish its annual report and accounts in accordance with Rule 19 of the
AIM Rules trading in the Company's shares has remained suspended. Now that the
annual report and accounts have been sent to shareholders, the Company has
requested that trading in the Company's shares on AIM is restored.

For further information please contact:

Shane Smith, Chairman and CEO,    [e-mail]     [phone]
Independent International                                                      
Investment Research PLC                                                        
                                                                               
David Worlidge/John East,                                   [phone]
John East & Partners Limited                                                   

Notes to editors:

Independent International Investment Research PLC ("Independent II Research")
(LSE:IIR) is the UK's leading source for impartial research and strategy for
global equities and foreign exchange.

The Company was admitted to the Alternative Investment Market (AIM) of the
London Stock Exchange in 2000, and operates through two subsidiaries: Pronet
Analytics.com Limited (regulated and authorised by the Financial Services
Authority in the UK and registered as an Investment Advisor with the Securities
Exchange Commission in the USA) which has been ranked consistently in the
global top-five independent currency research firms; and Independent Research
Pvt Limited, its research centre in Mumbai, India. The Group has become a
leading specialist in the United States for the provision of research on non-US
companies (primarily those with American Depositary Receipt programs).

The Group's core products are: GEO Monitor(tm), a research and tracking service
providing intelligence on Initial Public Offerings around the world; Research
Oracle(tm), a ground-breaking platform which provides access to the Group's
international research free of charge; and Global Research, which provides
access to financial models, sector analysts, short term trading strategies, and
corporate access services.

For information on the Group's independent performance assessment by Investars
(tm), go to http://www.investars.com/bvic_universe.asp?coveragematch=0&AlgorithmID
=4&RegionID=4&period=1&NumOfPositions=4&index=0&Trusted=1&itime=0&SearchID=0&
imageField.x=112&imageField.y=14

IIR is a member of the British Olympic Association Council, promoting and
assisting Team GB athletes in Beijing 2008 and London 2012.



END