Euromoney - Scrip Reference Price

Euromoney Institutional Investor PLC (the "Company")

Scrip Alternative to the Final Dividend - Scrip Reference Price

This announcement should be read in conjunction with the announcement by the Company on November 10 2011 of a proposed final cash dividend (the "Final Dividend") of 12.5 pence per ordinary share in the Company ("Ordinary Share") in respect of the Company's preliminary financial results for the year ended September 30 2011 (the "Preliminary Results Announcement"). Under the Preliminary Results Announcement, it was announced that the directors had resolved to offer a scrip dividend alternative to the Final Dividend (the "Scrip Dividend Alternative"), under the scheme approved by shareholders on January 28 2009.

The Company announces that the scrip reference price (by reference to which new ordinary shares will be issued to those shareholders who elect to receive shares instead of cash in respect of the Final Dividend) is 655.77 pence (being the average of the middle market quotations of an Ordinary Share as derived from the Daily Official List for the fifteen successive dealing days commencing with November 16 2011 (being the date on which Ordinary Shares were first quoted "ex-dividend" in respect of the Final Dividend) and ending on December 6 2011). Shareholders entitled to receive the Final Dividend and holding at least 53 Ordinary Shares or more may elect to receive, for every 52.46 Ordinary Shares (rounded up to the nearest Ordinary Share) registered in their names at the close of business on November 18 2011, one new Ordinary Share credited as fully paid (a "New Ordinary Share") instead of the Final Dividend. The New Ordinary Shares will, when issued, rank pari passu in all respects with existing Ordinary Shares, including the right to receive all dividends declared after the date of issue. All elections for the Scrip Dividend Alternative will be subject to the terms of the scrip dividend scheme, as set out in the shareholders circular referred to below. The Scrip Dividend Alternative is conditional on the Final Dividend being approved at the Annual General Meeting of the Company on January 26 2012.

Full details of the Scrip Dividend Alternative will be included in the shareholders circular which will be sent to shareholders in December 2011 and for those shareholders who have opted for electronic communication, the information will be available on the company's website (www.euromoneyplc.com) at the same time.

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For further information, please contact:

Euromoney Institutional Investor PLC

Colin Jones, Company Secretary: +44 20 7779 8845; [email protected]

Financial Dynamics

Charles Palmer: +44 20 7269 7180; [email protected]