The Company has received a conversion notice in respect of £250,000 nominal, 5% Convertible Unsecured Loan Notes 2008 (“CULS”) that convert into 263,157 new ordinary shares of 5p each. The CULS convert on the basis of one New Ordinary Share for each 95p nominal of loan note held. There are now a total of £2,134,000 nominal of CULS remaining.

In addition, the Company announces that following the exercise of share options, the Company has approved the allotment of a total of 34,500 new ordinary shares of 5p each in the capital of the Company.

Application has been made to the London Stock Exchange for the 297,657 new ordinary shares resulting from the conversion and the exercise of the options to be admitted to AIM and it is expected that dealings will commence on 12 December 2007. Following the conversion and the exercise of the options there are now a total of 40,567,526 issued ordinary shares in the Company.

For further information, please contact:

Integrated Asset Management Plc

Ohad Egoz, Company Secretary

Tel: +44 207 514 9200

Fax: +44 207 514 9202

o.egoz@integratedam.com

Noble & Company Limited

John Riddell, Director

Tel: +44 207 763 2200

Fax: +44 207 763 2398

nick.naylor@noblegp.com