Confirmation of Court Application

26 February 2010

IQ Holdings plc

("IQH" or the "Company")

Confirmation of Court Application

Further to the announcements made on 1 February 2010 and 22 February 2010, the Board of IQ Holdings plc announces that an application to the Court has been made for confirmation of the proposed cancellation of the capital redemption reserve, share premium account and reduction of share capital to allow the Company to distribute the majority of the Rivington Street Holdings plc ("RSH") shares to IQH shareholders (together the "Reduction of Capital").

Subject to the Court granting its Order on the final hearing date which is anticipated to be on 17 March 2010, the Reduction of Capital is expected to take effect on the same day at which point the Directors of IQH will be in a position to give further details on the distribution of the RSH shares to its shareholders.

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For details of the transaction please see the Company's announcement made on 24 December 2009. For the full Circular, please visit the Company's website at www.iqholdings.co.uk.

Unless otherwise defined in this announcement, capitalised words and phrases used in this announcement shall have the same meanings given to them in the Circular dated 24 December 2009.