1 August 2008 

IAF GROUP PLC 

("IAF" or the "Company")

BOARD CHANGES

Appointment of Menno de Jager as Deputy Chairman of IAF Group Plc

and Chairman of IAF Securities Limited

Appointment of Mr Robin Davies as Non-Executive Director

IAF, the AIM quoted finance company focused on corporate advisory, wealth management and stockbroking services, announces the following strengthening of its management and Board arrangements.

Effective immediately, Menno de Jager, currently a Non-Executive Director of the Company, has been appointed Deputy Chairman of the Company. He retired from ABN AMRO, where he was a Vice Chairman, on 30 June 2008 after 31 years of service, having previously served as Chairman of ABN Rothschild.

Menno de Jager will also become Chairman of IAF Securities Limited ("IAFS"), the wholly owned stockbroking and corporate finance subsidiary of the Company. 

Also with immediate effect, Mr Robin Davies, age 57, has been appointed as a Non-Executive Director of the Company. Mr Davies has had a successful career in human resources, consulting and management development. In 1986 he founded Crane Davies Limited, a human resources and management development consultancy, with clients including Goldman Sachs, Morgan Stanley, Guinness Plc, HSBC plc and ICI Plc. In 2000 Crane Davies was acquired by Penna Consulting Plc. 

Mr Davies is currently Non-Executive Chairman of X-Phonics Plc, a company which was admitted to AIM in October 2005, and was previously a Non Executive Director of Meon Capital Plc, prior to the reverse takeover by Dermasalve Sciences Limited in December 2005. Mr Davies currently owns 11,004,445 ordinary shares, representing 10.8% of the Company's issued share capital.

Commenting on these appointments, David Massie, Chairman and Chief Executive, IAF, said:

"We are delighted that Menno de Jager has broadened his role within IAF by becoming Deputy Chairman of the Group, and Chairman of our subsidiary, IAFS. Menno is a very experienced and well known investment banker and will participate actively in the next stage of growth for IAFS.  We are also pleased to welcome Robin Davies to the Company, whose knowledge of human resources and training will be of great value to us as we continue to grow and develop IAF."

  Robin Frank Davies has held the following directorships in the past five years:

There are no further disclosures to be made in accordance with schedule 2 (g) of the AIM Rules.

The Company intends to make its Preliminary Announcement for the year ended 30 June 2008 in early September.

For further information please contact:

IAF Group Plc 

David Massie (Chairman and Chief Executive - IAF Group Plc) 

Tel: 020 7747 8940 

Dowgate Capital Advisers Limited 

Liam Murray / Antony Legge

Tel: 020 7492 4777 

Bishopsgate Communications Limited 

Nick Rome / Nick Farmer 

Tel: 020 7562 3350 

nick@bishopsgatecommunications.com 

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