Transaction in Own Shares

RNS Number:6704K
IRF European Fin Investments Ltd
27 December 2007



IRF European Finance Investments Ltd
27 December 2007



         IRF European Finance Investments Ltd. ('IRF' or the 'Company')

                                 Share Buy-Back


IRF announces that on the 24th December the Company purchased for cancellation
1,023,810  common shares of $0.0015 each (the 'Purchased Shares') at an average
price of $4.5 in the open market, for a total cost of approximately $4.6
million.


Following completion of this share buy-back, the Purchased Shares will be
cancelled from trading on AIM and accordingly, the reduced issued share capital
trading on AIM will amount to 124,832,394 Common Shares.


About IRF



IRF was formed to invest in the financial services industry throughout Europe
with a primary focus on credit institutions and insurance companies in South
Eastern Europe.  IRF's current strategy is the acquisition of financial
institutions having valuations which do not reflect their potential and where
marketing and operational efficiencies are possible.  IRF owns a 20.56% interest
in Proton Bank.


Proton is a full service financial services institution, including retail and
investment banking as well the provision of specialized corporate advisory and
investment services.  Proton is listed on the Athens Shares Exchange under the
symbol 'PRO'.  For more information about Proton, please see www.proton.gr.



Enquiries of the Company may be made to the Company's Nominated Adviser, Numis
Securities Limited, attn: Jagjit Mundi ([phone]) or Nick Westlake (+44
20 7260 1345).




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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