Regulatory Approvals for James Hay acquisition

IFG Group plc

4 March 2010

IFG Group plc ('IFG' or 'the Company')

Proposed Acquisition of James Hay Holdings Limited

Following the announcement on 9 December 2009 relating to the agreement to acquire the entire issued share capital of James Hay Holdings Limited and its subsidiary undertakings ('James Hay') from Santander Private Banking UK Limited, IFG is now pleased to announce that it has received approval for change of control from the Financial Services Authority in the UK and from the Jersey Financial Services Commission.

The consideration payable is £35 million (approximately €38.61 million) in cash plus an additional adjustable payment for net assets. It is expected that Completion of the Acquisition will take place within the next five days.

To fund the acquisition IFG has raised €51.15 million (before expenses) through a Placing and Open Offer of 48,263,932 New Ordinary Shares and the allotment of a further 451,627 New Ordinary Shares pursuant to the Potential Additional Placing. Following admission of the New Ordinary Shares Fiordland Investment Limited Partnership will become a significant shareholder in IFG holding 21,666,669 New Ordinary Shares representing 17.50% of the enlarged issued share capital of IFG.

Application has been made for 48,263,932 New Ordinary Shares to be admitted to the Official List of the Irish Stock Exchange and the Official List maintained by the UK Listing Authority. Application has been made to the Irish Stock Exchange and the London Stock Exchange for admission of such New Ordinary Shares to trading on their respective main markets for listed securities.

It is expected that admission will become effective and that dealings in the 48,263,932 New Ordinary Shares will commence on 10 March 2010.

Application will be made for 451,627 New Ordinary Shares to be admitted to the Official List of the Irish Stock Exchange and the Official List maintained by the UK Listing Authority. Application will be made to the Irish Stock Exchange and the London Stock Exchange for admission of such New Ordinary Shares to trading on their respective main markets for listed securities.

It is expected that admission will become effective and that dealings in the 451,627 New Ordinary Shares will commence on 15 March 2010.

Unless otherwise defined, capitalised terms in this announcement have the same meaning as in the circular to IFG Shareholders dated 11 December 2009.

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Enquiries:

IFG Group plc

Mark Bourke, Chief Executive Tel: +353 (1) 275 2800

Mark Bogard, Chief Executive, IFG UK Tel: +44 7881 911 297

Niamh Hore, Investor Relations Manager Tel: +353 (1) 275 2866

IFG Group plc

IFG House

Booterstown Hall

Booterstown

Co Dublin