Result of Open Offer

20 June 2011

Result of Open Offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART IN, INTO, WITHIN OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

IP GROUP PLC

RESULT OF OPEN OFFER

Following the Placing and Open Offer announced on 3 June 2011, the Company announces that it has received valid acceptances from Qualifying Shareholders in respect of 3,923,839 Open Offer Shares, representing 39.24% of the Open Offer Shares available pursuant to the Open Offer.

Pursuant to the Placing Agreement entered into by the Company and Numis Securities, Numis has procured placees to subscribe for the remaining 6,076,161 Open Offer Shares to be issued under the Open Offer, in addition to the 100,000,000 New Ordinary Shares to be issued under the Placing.

The Placing and Open Offer remains conditional upon, inter alia, approval of certain Resolutions at the General Meeting to be held at 2.00 p.m. on 21 June 2011 and admission of the New Ordinary Shares to the Official List of the UK Listing Authority.

Application has been made to the UK Listing Authority for the 110,000,000 New Ordinary Shares to be issued pursuant to the Placing and Open Offer to be admitted to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange. It is expected that Admission will occur, and that dealings in the New Ordinary Shares will commence, at 8.00 a.m. on 23 June 2011.

This announcement should be read in conjunction with the full text of the prospectus published by IP Group and sent to Shareholders on 4 June 2011 (the "Prospectus"), copies of which are available on the Company's website at www.ipgroupplc.com. Capitalised terms in this announcement have the same meaning as in the Prospectus.