Independent International Investment Research Plc               

                        ("the Company" or "the Group")                         

Further Re. Termination of Licence and Google settlement and Proposal to delist
                           Company's shares from AIM                           

Withdrawal of Notice of termination of the licence

Further to the announcement made on 25 July 2008, the Company announces that
the Smith Trust, whose trustees comprise Shane Smith (Chairman and Chief
Executive of the Company) and Karen Griffith (a director of the Company) (the
"Trust") and who is the licensor of the intellectual property exploited by the
Group, whilst reserving its rights generally, has withdrawn the notice of
termination of the Intellectual Property Rights Deed of Assignment dated 26
June 2002 ("Deed of Assignment"), which it had served on the Group, the
validity of which was challenged by the Company. The Company therefore
continues to hold the licence to exploit the intellectual property granted by
the Trust to the Company on a perpetual basis, subject to the rights of the
Trust to terminate in certain circumstances, for a monthly payment of �1,000.

Settlement of Google Inc. dispute

In May 2002 one of the Group's subsidiaries launched a new version of its
"Pronet" suite of products including "G-Mail web based email". On 1 April 2004,
Google Inc. ("Google") announced the launch of its email service, which it
branded as "GMail". The Group took appropriate steps to protect the trade mark
intellectual property.

On 25 July 2008, the Group announced that it had received notice that the Trust
had entered into a settlement agreement with Google regarding the GMail
trademark. The Company and certain of its subsidiaries also entered into the
settlement agreement. Under the AIM Rules, the settlement with Google is
treated as a related party transaction because the Trust is a related party as
Shane Smith and Karen Griffith, who are directors of the Company, are the
trustees of the Trust.

Under the settlement agreement dated 23 July 2008, the Trust, the Company and
Pronet Analytics.com Limited agreed to assign all the intellectual property
rights relating to the GMail trademark to Google for a cash consideration of �
226,324, which was remitted to the Trust on 23 July 2008. On 29 August 2008,
the Smith Trust unconditionally remitted to the Group all the proceeds of the
settlement reached with Google. The proceeds of the settlement are considerably
in excess of the expenditure incurred by the Group in protecting and enforcing
the intellectual property rights (which were mainly reflected in prior years'
audited accounts) and will be applied to general business purposes. The
independent Directors, having consulted with John East & Partners Limited,
consider that the terms of the settlement with Google are fair and reasonable
insofar as the shareholders of the Company are concerned.

Results for the year ended 29 February 2008

The accounts for the year ended 29 February 2008 have been completed and a
separate announcement will be made following this announcement.

Proposal to seek the cancellation of trading in the Company's shares on AIM

It is appropriate for your Board to give periodic consideration to the benefits
of maintaining the Company's public listing. A number of factors were
considered by the Board including:

- 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.

- 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.

Having carefully considered the matter, the Board has decided to convene a
meeting of shareholders in the near future to consider a special resolution to
seek the cancellation of trading in the Company's shares on AIM. In the event
that this resolution is passed, the Board would propose to investigate
participation in one or more of the matched bargain facilities that exist to
provide shareholders with a trading platform for shares in unquoted companies.

Whilst supporting the Board decision to recommend the delisting of the
Company's shares from AIM, Albert Maasland has advised the Board that he
intends to resign as a non-executive director immediately following the general
meeting to be held to consider the de-listing.

In normal circumstances the Company would request that the London Stock
Exchange restore trading in the Company's shares and dealings with effect from
8.00a.m. today. 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 has not published its Annual Report and Accounts in accordance with
Rule 19 of the AIM Rules as it intends to send out the notice of General
Meeting to consider the delisting with the Annual Report and Accounts, trading
in the Company's shares will remain suspended until the Annual Report and
Accounts are published. A further announcement will be made in due course.

-ENDS

For further information please contact:

Shane Smith, Chairman and Shane.smith@iirgroup.com             +44 7785 276 703
CEO, Independent                                                               
International Investment                                                       
Research PLC                                                                   
                                                                               
David Worlidge/John East,                                        +44 (0)20 7628
John East & Partners                                                       2200
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
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