Acquisition

EUROMONEY INSTITUTIONAL INVESTOR PLC

Euromoney Institutional Investor PLC to acquire

leading financial data business

Euromoney Institutional Investor PLC ("Euromoney"), the international publishing, events and electronic information group, has agreed to acquire Arete Consulting Limited ("Arete"), the world's leading database of retail structured investment products. The acquisition is in line with Euromoney's strategy of investing in high-growth online subscription data businesses. This is Euromoney's first sizeable acquisition since the purchases of Metal Bulletin and Total Derivatives in October 2006.

Arete is the definitive global data and news source covering structured retail products. The business was founded in 2001 by its managing director and principal shareholder, Robert Benson, formerly Global Head of Structured Products at HSBC. Arete's proprietary Structured Retail Products database - www.StructuredRetailProducts.com - contains information on over 1.3 million products with significant derivative features from 33 countries, dating back nearly 20 years. Product information is given in both English and the original language, with source documentation provided in addition to data analysis. Its customers are in 52 countries, including emerging markets, and are mostly investment banks, issuers of structured retail products, regulators and financial indices. The business has operations in London, New York and Hong Kong and a full-time staff of 37.

Euromoney has acquired a 100% interest in Arete. The final price is dependent on Arete's audited profits for its financial year to 28 February 2011. The acquisition will be financed from Euromoney's existing borrowing facility. Arete has gross assets of £1.1 million (derived from its audited accounts to 28 February 2010) and net liabilities of £183,000.

"We are delighted to acquire Arete and to receive the continuing support of Robert Benson and his excellent teams in London, New York and Hong Kong," said Padraic Fallon, Chairman of Euromoney. "We look forward to helping this high-quality subscription data business to grow and to develop additional sources of revenue. This acquisition fits our strategy perfectly."

Robert Benson, who will stay with the business, until at least the end of June 2011, said: "We are excited about becoming part of the Euromoney Institutional Investor group. Working with Euromoney will enable us accelerate our geographical coverage and develop new products to deliver a significantly enhanced service to our subscribers."

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NOTE TO EDITORS

Please note that in spite of Arete Consulting Limited's name, it is not a consulting business and it has no consulting revenues.

Euromoney Institutional Investor PLC (www.euromoneyplc.com) is listed on the London Stock Exchange and a member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It publishes more than 70 titles, including Euromoney, Institutional Investor, and Metal Bulletin. It also runs an extensive portfolio of conferences, seminars and training courses and is a leading provider of electronic information and data services covering international finance, metals and emerging markets. Its main offices are in London, New York, Montreal and Hong Kong and more than a third of its revenues are derived from emerging markets.