NO ONE IS TALKING ABOUT THIS LITTLE RASCAL-WHATS HAPPENING-ANY NEWS ABOUT MERGER-THERE IS RUMOURS THAT IT COULD VALUED AS MUCH AS 10P A SHARE-IS IT TRUE??IF ANY ONE KNOWS ANYTHING PLEASE REPLY-I COULDN'T BELEIVE THAT PEOPLE STOPPED WRITING ABOUT THIS SINCE THE MERGER ANNOUNCEMENT WAS MADE-BUT PLENTY OF SUGGESTIONS AND POSITIVE NOTES BEFORE THE ANNOUNCEMENT-IS IT GOING BUST???????

Aruchuna,
This is the third thread started on IAL in the last 7 days.
Why don't you use the search button and enter IAL (upper case) in the epic box,
then you can add your comments to the others and keep the board tidy.

We're all watching and waiting ! I don't think any one knows what will happen. I also heard about the 10p a share rumour before Xmas. I got in at 3p last Sept. on recovery play. Had expected this to rise strongly on last weeks announcement. Waiting to see if it will actually happen and when. It's any one's guess. I would've thought it would be good. :)

I agree with skyhigh, i hold these shares and am just waiting for news, which i hope will be positive.

I agree with skyhigh not much activity with trades this morning looks like everyone is waiting

WHATS HAPPENING TO THIS SHARE?? CAN'T BELEIVE THAT IT IS EXPECTED TO SHOOT UP TO ATLEAST 10P LEVEL AFTER THE MERGER NEWS WAS ANNOUNCED UNFORTUNATELY OPPOSITE HAPPENED.BERK BERRY REPORTED ON RNS THAT THEY HAVE POSTED DOCUMENTS CONTAINING DETAILS OF MERGER TO THEIR SHARE HOLDERS,ANYONE KNOWS ABOUT IT----PLEASE LET US KNOW ASAP-LACK OF NEWS IS KILLING EVERY BODY-WHAT ABOUT THOSE ARTICLES BOASTING ABOUT THIS SHARE APPEARED ON MAGAZINES SUCH AS SHARE & INVESTORS CHRONICLE-ARE THEY WASTE OF TIME???

Be patient.. Now is not the time to sell. I've only got a 100k shares but I'm hanging on to them for now. There will be a positive reaction sooner or later. May not be spectacular but I expect this to at least double in the next week or two. Then I'll look at selling some if not all. see how goes. DOYR. :)

ANYONE HEARD ANYTHING, BOTH IAL AND BBB NOT BEEN DOING SO WELL OVER THE LAST FEW DAYS?

Not heard anything at all. It's all gone quiete.. Aim/Sm caps mkt is down overall over past few days and has knocked alot shares back and IAL has been no exception. I have to say it's anyones guess as to what will happen with IAL. I went in on this one as a good recovery play (sooner or later) last Sept. (shares mag)

patients is a virtue everyone, merger is most likely to happen, broker recommendation is strong. the next 4 month u will see the price near double. we wont get the 10p target as some people said because thats a very laughable value.

thanks nav, i`ve been in these since september and natrually these are shwoing a loss. i think that the tide should change in the next couple of months on the back of a possible merger with BBB. If memory serves me correct IAL are set to announce their results in April, so it`s worth hanging on `till then. I think the price would not rise much more than double it`s current value simply due to how much the stock has become diluted.

RBOS have disposed of over 6 million ordinary shares this morning, can someone let me know what impact this will have, if anything on the IAL share price, or why RBOS have done this.

Hi Thom, I`m still fairly new to share dealing but i can only think that this sort of thing cannot be a good thing, if a big institution is no longer interested then do they know something we don`t and wanna turn their shares into cash?????? Whatever their reasons I wouldn`t take this as a positive sign unfortunatly.

I am thinking of buying here.Do you think I should and if so,why ?
rgds aj

I have to say it's anyones guess as to what will happen with IAL. I went in on this one as a good recovery play (sooner or later) last Sept. (shares mag). I'm continuing to hold.
Good luck with whatever you do. If you do go in you'll need a great deal of patience with this one ! DYOR. Hope we'll get other views / comments also..:)

I too bought on recovery spec last septemeber, I had my sights on IAL before it`s recommendation in Shares mag, I bought in at 3p. The longer I leave this share in my portfolio the more anxiuos I`m becoming. I have recently sold half my stock and put my money into other stocks which should grow more. I do think the stock should recover given time but there`s always the risk it could go under, the recently announced possible merger with BBB did little to raise the price. I`m optimistic but at the same time becoming increasingly more cautious.

I bought these shares about 3 months ago on broker recommendation. I phoned my broker today and mentioned that RBS had recently sold 6 million shares in IAL.
My broker still recommends holding the shares.

Geoffrey,
Would be interested to know who the broker was and what are his reasons to recommend holding the shares.
I bought 100k shares @3p some 6 months ago from Hoodless. However, I bought these on the back of Shares mag buy rec. on recovery play. Hoodless also say hold on to shares.
Sometimes it's better if mergers don't come off as then company's can focus on getting things back on track, more quickly with more motivation... we'll see...In the meantime. it's like watching paint dry waiting to find out how it's going to turn out.-- painful!

It was Hoodless who advised to hold. They said, "it doesn't always mean there is something wrong when banks sell shares in the company".

I think we may see the shares rise if the next set of results show an improvement.

yo`ure right skyhigh, holding this stock is very painful, i think they are announcing some results in april if i recall so we should know a little more then about where the company is heading......

The below communication just released by BBB may be relevant ?

It looks like a re-org just before they merge with IAL. did he walk or was he pushed ? perhaps they are already rationalising and making room for the snr IAL guys. either way, we should get some news in the next week or two !



Berkeley Berry Birch PLC
03 March 2004



For Immediate Release

Berkeley Berry Birch plc Announces Board Changes

London, 3 March 2004: Berkeley Berry Birch plc, the financial services
distribution group, announces the appointment of Clifford P. Lockyer as Group
Chief Executive. This will be in addition to his current responsibilities as
Group Executive Chairman.

Craig Butcher will now remain as Finance Director with broader commercial
responsibilities.

Stephen Ingledew, the Company's current Group Chief Executive, has left the
Company by mutual consent to pursue alternative business opportunities.

I agree skyhigh, the CEO probably left as he was surplus to requirements in the new structure, or because he was against the merger proceeding.

Not looking good today though,,, down a 1/4p.. I always wonder why peeps sell just before somethings going to happen. Perhaps they know something...
Anyway, I'm still hanging in there.. hoping for the best ! :)

does anyone know why this share has lost 1/2p in two days?

I feel a dilution coming on !? Could be we're being softened up for a share placing / fund raising exercise ?
Unless something else startling happens, it'll go down a bit more, there'll merge and our shares will be devalued in some way.
In the long term, it will be good (12/18months away) as MKT Cap & Revenues will be double what it is today but costs will be halved. so profits should come good in the end.
there will also be some exceptional costs assoc. with the merger)

That's my take on it (IMHO. I could be totally wrong (usually am).
If it goes down further, might be worth buying some more. (speculative)Interested to hear other views...
Good luck all :)

SOME VERY BIG SELLS GOING THROUGH TODAY, 37 MILLION IN TOTAL, ANY NEWS FROM ANYWHERE?

Help ! what next ? Do I sell now at a 30% loss while I can ? or do I still continue to hold hoping it will still come good one way another. (or it could be worth even less then it is now !) It's s**t or bust !
The suspense is killing me ! :(

Being in financial services I've heard enough about IAL to know that I wouldn't touch them with a barge pole. Like most companies in the industry they are paying far too much for the business they're pulling in. The government is systematically screwing margins with lower charge products (CAT standard ISA's, stakeholder pensions and the 1% world,) most companies have out of date technology, systems and working practices and can't afford to replace them - heap on the misery and cost of 'pension and endowment mis-selling' and you have an industry in pretty dire straits. I think this government is out to bury us and they're doing a fine job. I just hope we lasts the 10 years needed to get me to retirement. We're not all bad and I think we'll be missed. Not a sector I favour but dyor, sorry and good luck.

Been a holder for sometime and I`ve basically decided I`m going for broke - i`m just hanging on with a view to possibly losing a fair sum. I know this is not ideal situation but it`s all or nothing for me.....

Same here ! I think I may sell 50k of my 100k shares.
I won't gain so much when it comes good but then again, I won't lose so much when it goes down. Could touch 1p when / before news is announced, then it will be upwards from there.
I have heard that 12March could be the day we'll get some news re : merger.
Does any one else have any news ? :(

i`m with you sky high, i sold just over half my holding a few weeks ago to reduce my exposure, i am just taking the cautious stance with this stock now.

Sold 100000 IAL at a loss of 500 for 2.10 yesterday, Bought 100000 HCEG @ 2.33
lost out i know but thought i probably stand a better chance of a gain with
this stock, Did not feel happy holding IAL anymore, to many selling
What are your thoughts, any input is welcome

Confidence sorry guys I'm adding and just done so, expect allot of negative stuff when dealing in troubled companies like this.
Fingers crossed :0)

I bought 35,000 shares some months ago in IAL and I am hanging on. I just think people are getting jittery. On the Finacial Times website under concensus there is a single analysts recommendation: and that is buy.

Geoffrey, I think your right. Peeps getting very jittery. I certainly am ! I decided yesterday to hang on to my full 100,000 shares that I've had for about 6/7 months...Wonder how long the "BUY" rec. has been on the FT website ? was it before the possible merger announcement or after ?
Lets hope the eventual news is good. :)

skyhigh,

The buy recommendation has been on over 13 weeks

consensus Estimates for yr. end 2004:

Sales; 65 million
Earnings per share; 0.10 p
Profit: 0.9 million
Dividend: 0

please remember IAL have had negative historical surprises in the past 2001/2002

Thanks Geoffrey,
Was there any estimates for the year end 2003 also ?
Cheers !

was going to sell my 50000 shares today?but held off still think that this company BBB is going to make things move???????????i hope

skyhigh,

figures for yr. end 2003

Sales: 60 m
Eps: -4.7p
Profit: -21 m
dividend: 0

I have to say I think the profit estimate for 2004 is optimistic after a 21 m loss in 2003

Thanks again Geoffrey. Agree that est. for 2004 looks optimistic. I guess we're all in for penny, in for a pound. Lets hope we get some encouraging news soon. I heard rumours that it might be today but I doubt it.... : )

5 million x trade just gone through - Will we get some news soon?

Well this little bugger has got me a spin do i sell or hold, was really confident of this play playing off, but as time draws on I'm getting more and more anxious about selling. Has anyone checked out cityequities.com, if you look up IAL on their web site everyday there is something about rule 8, anyone know what this means???????? Please help anyone!!!!!!!!

Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in)

Announcement rule * relates to 5,000,000 Xtrade on the 23rd

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing 23/03/04

Dealing in INTER ALLIANCE GROUP PLC (name of company)

1) Class of securities (eg ordinary shares) ORD

2) Amount bought Amount sold Price per unit

5,000,0000.0175

3) Resultant total of the same class owned or controlled
(and percentage of class) 71,804,199 (7.93%)

Party making disclosure SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED

What I think is interesting is that these institutions are buying in at discounted rates ie 5 ,000,000 X trade @ 1.75p bought by the comp,Yet on the 23rd the trade looked like a sell at that price.
Good to see them buying in.

Does anyone know the exact date which the results are due, or where I can find such info. thanks

If you all look up IAL on cityequities.com then you'll see that their are investment companies investing in IAL. Perhaps they know something about the merger that we don't?

1% of the shares at a time!!!!!!!!!!!!11

WHEN ARE THE RESULTS DUE? ANY ROUGH IDEAS?

Some significant dates from last year might give a rough idea;

18/03/03 update :FY losses wider than expected
16/05/03 notice of results
20/05/03 Final results

You will get this info if you click on the news tab on this site.That's the best I can do unless someone has more.

Regards

Sirtoven

inter alliance drifting sideways and slightly down after a very quiet spell, wonder why the price has been weakened, perhaps news is to flow soon and we might see heavy trading! Big risk still but the upside looks massive!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

9 million shares sold and none bought by 3.30pm today. hence the price drop.

There was a small article in Shares Mag. this morning that wasn't very encouraging.... It was headed up under BBB and stated that financial product sales were not as strong as hoped for..
It also said that the proposed merger was not likely to go ahead and then also rated both shares as sells !
Apart from that - everything's fine !!!!!
Looks as though Inter's recovery plans are going to be put back and that any results will be disappointing..
Well, I'm wondering whether to finally sell up or not. I might regret this but... on my premise that it's always darkest just bfore the dawn, I'll hold on and hope for the best !...

Sometimes, when mergers don't materialise, it galvanises some companies to really buckle down and make a go of it themselves. I hope that it's the case with IAL !

Good luck all... keep smiling! :)

i would not touch this share. i guess the assets are so fragile....open them up and see i.e. if you are in aposion to do so which you are not.
ascertain what is regarded as income and when that is taken into the accounts.
examine the liabilities and how rigourous these have been defined.
towhat extent is the company protected by insurance and is any excess a single one for each and every individual claim arising ... in fact what is the amount of that excess? the regulator is allowing some firms to operate without insurance. as far as i am aware past and even new clients may well not be aware of the abscence of an insurance cover. an insurer can refuse to renew or apply horrendous terms which can result in prudent directers closing a company. why should life offices subscribe for shares beats me ..unless the life office is using money from its own policyholders with-profits fund which i would class as horrific.
we are in a claims conscience era coupled with the regulator still applying retrospective judgements
salesman can have lucrative financial incentives which can result in even the sharpest of eyes becoming blind ...and will that salesman be there in even a years time to listen to the music
in addition more and more products will shortly become severely regulated.
i am one of the greatist optimists ...but this share fills me with dread.

Sells outweighing the buys considerably today and a very low price. The share no longer looks all that attractive. Makes me wonder if the company is suffering more than it should be?? If so is there a risk the shares could be suspended??

if I was you and thank god i am not in your position. I would get out sooner rather than later, unless you thinking majorly long term then nobody knows

can anyone confirm that inter-alliance is about to change its title to ....................TITANIC?

Looks as though it's still gonna sink whatever name it is !
But.. I'm stupidly hanging on hoping for the best outcome and going for broke on this one. (I've been a long term holder). Looks as though I'm gonna sink with it ! :(

I too held these a long time - since last Sept and only have a small portion of my original holding left.I lost quite a bit on this one but I don't think it will sink just yet.The lack of information really kills the share price.

They have'nt had to look for anymore cash since the last placing (15m)so I believe they have managed to cut costs to some extent although not as much as was hoped for.Remember H1 loss of 20m+.

BBB managed to cut their losses more significantly at their last results and may have seen an opportunity to use their experience in cost cutting in a merger with Ial.

I feel the share price could fall further before the results at the end May.So will look to some good info in the results before I buy back.The merger still makes very good business sense for both companies so I don't think that saga is over yet either.

Just my opinion

Goog luck to all

Sirtoven

sirtoven.
Thank you for your views which I mostly agree with. Looks as though we're being softened up for a much lower price on this one as price keeps falling a little as each week goes by. If merger does go ahead, It'll be interseting to see how they fund it. Can't see how we can be anything but worse off in the short term.

Also, last week, Shares Mag. commented that the merger with BBB is unlikely to go ahead and rated both shares as sells. This after SM rated IAL as recovery play last Sept/Oct.

However, SM could have this wrong as they have been with other shares. Take Zi Med, which I've been in a long time, over a year ago they rated them as a sell at 4p.. now look where are !

Be intersting to see what eventually happens..keep smiling all, remember ..it's always darkest before the dawn ! :)

IAL down again. Has anyone any comments ?

Geoffrey.R,
As mentioned and expected above, lower price is here ! could even go a bit lower still. Good time to pick up more. (DYOR & IMHO)
I believe price is being driven lower to enable a big institution(Soc.Gen) to buy in at a low price. (and maybe to get the proce down to level where they will get institutional funding support for the merger, if it goes ahead).
I don't think it's all gloom & doom. All should become clearer by 20th May.
Could even be earlier to ensure they take us all by surprise.!

I'd be interested to hear other news & views also. Keep the faith !

i say again .......you must dump the shares. in this type of operation once the covers are taken off there is the absence of true assets and liabilies spread faster than the most severe cancer. you must dump the shares before sale costs exceed the share sale value.

LOTS OF BUYS YESTERDAY AND TODAY - ESPECIALLY THIS AFTERNOON!!!!!

does anybody know whats happening with this company?????has i am very close to selling the lot and getting out 1/4 less????

All buys today. I am hanging on to see what happens, seems to be some support at this level.

Well, Shares Mag were right 3 weeks ago when they commented that the merger talks were off !
I guess we'll have to wait for the results to come out around the 16th - 20th May and hope that there's some good news in the announcement.
Be interesting to see what will happen to the share price now ? Could strengthen ?

SP has strengthened ! Good trading statement released today with results to be published within the next week or two. !
Although it looks as though the recovery will take longer than predicted at least there is now light at the end of the tunnel. I'm staying in IAL for the long term ride.. will be worth it. should be a 10 bagger within 18-24 months :)(IMHO, DYOR)

Congratulations on hanging in there skyhigh!

I hope this will be the turning point for the share price.

Regards

Sirtoven

i am still of the view that one should ditch the shares pf Inter Alliance.
quite appart from the nature of business done there is the huge open ended liability via the financial services authority......the FSA applis rules on a retrospective basis so one does not get the benefit of common law. in addition one does not even gain the benefit of the Limitation Act.

no other class of commercial company could afford to be exposes to liabilities on such an open basis.....unless one had entered into a particular contract in which event one would or should have priced according to the liabilities of the contract.

I am just glad to finally hear something after all this waiting. I am too holding onto IAL, may have lost a fair bit at the moment, but am confident IAL will pull through now.

Yeah it is good to hear some positve news, i`m way down on my investment like many other people, i`m just holding the stock and seeing what comes of it, who knows where they might be in a couple of years time??

do not look at todays fall in value of inter.alliance shares its really like the box of kippers that was bought and sold until some one complained about the smell. the retort was that the kippers are for buying and selling...
however make sure you are a sellar of inter alliance shares.

A slightly more positive article in Shares Mag. this morning. Now rated as a hold, future looks more positive, based on good last qtr sales performance.
It will be interesting to see if this has continued into this qtr as well. Should know more in next week's results release.
Two directors went today. Again, this'll help IAL display that they are getting their act together (fresh start after the merger fell through, looks as though BBB pulled out)

All this should have a postive impact on the shares price (IMHO, DYOR,PYO)etc..etc. Keep smiling! :)

Whats Happening

Anyone's guess.. looks as though it going tits up in a big way..There are alot of small cap shares taking a battering. However, these are good levels to be buying at IMHO... continue to keep smiling !...good luck.

i have proclaimed before and i urge again that holdings in inter-alliance are sold.

a company of this nature does not have real assets....in addition commision can usually be reclaimed by the product providers if contracts sold do not continue for a number of years

i shall be interested to learn of the average length of service of the different claases of staff.....and detailed information as to the amount of commission which each year is refunded to those product providers.....and also the amount of commission which would need to be refunded if all conracts had been cancelled yesterday--that is known as "unearned commission" and should be readaibly available from the company.
also information needed as to at what stage does inter-alliance take commission into their turnover

i guess so much will be weak within inter-alliance...unless there is clear evidence to the contrary!

I have never bought and have intentions of buying these. Though I have some information that maybe of interest to the holders. There are rumours knocking about at the moment that another fundraising may be on its way hence the drop in price...

Best Wishes.

anounced in merger talks with millfield....plenty of buying this morning

SUE Helen, u all on this thread were right. Thought to post this announcement. Shares are already 50% up. Maybe someone would care to do the fundamentals to work out how much this company is value so you know what the outcome would be if merger does happen. Anyway. Here is the news. Good luck to all holders!!

Company Inter-Alliance Group PLC
TIDM IAL
Headline Merger Discussions
Released 09:46 7 Jun 2004
Number 4654Z

RNS Number:4654Z
Inter-Alliance Group PLC
07 June 2004


7 June 2004

Inter-Alliance Group PLC AND MILLFIELD GROUP PLC in merger discussions

The Boards of Inter-Alliance Group PLC and Millfield Group PLC announce that
they are in discussions, which may or may not lead to a merger of their
companies. Discussions are making good progress and shareholders will be advised
of developments at the appropriate time.

has anyone got any information on millfield as to the possible value this merger would bring.....seems to be a bit more buying going on this morning...no movement in price yet though....

Here is a compilation of RSN which shows some investment houses have been acquiring shares.

Company Societe Generale Asset Mngmt UK Ld
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 09:27 19 Apr 2004
Number 7290X



RNS Number:7290X
Societe Generale Asset Mngmt UK Ld
19 April 2004


Date of Disclosure 19/04/04

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing 16/04/04

Dealing in INTER ALLIANCE GROUP PLC (name of company)

1) Class of securities (eg ordinary shares) ORD

2) Amount bought Amount sold Price per unit

2,000,000 0.017


3) Resultant total of the same class owned or controlled
(and percentage of class) 73,804,199 (8.15%)


4) Party making disclosure SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED


5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation

SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED

6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO

Specify which category or categories of associate (1-8 overleaf)

If category (8), explain

(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES

Signed, for and on behalf of the party named in (4) above N/A

(Also print name of signatory) MYRA RAND

Telephone and extension number 020 7815 8608

ANOTHER BY JUPITER JUST DAYS AFTER SOC GEN:


Company Jupiter Asset Management Limited
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 10:25 19 Apr 2004
Number 7316X


RNS Number:7316X
Jupiter Asset Management Limited
19 April 2004

Date of Disclosure 19TH APRIL 2004

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing 16TH APRIL 2004

Dealing in INTER-ALLIANCE GROUP PLC (name of company)

1) Class of securities (eg ordinary shares) ORDINARY

2) Amount bought Amount sold Price per unit

180,000 1.75p

3) Resultant total of the same class owned or controlled
(and percentage of class) 21,200,000 (2.34%)


4) Party making disclosure JUPITER ASSET MANAGEMENT LIMITED


5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation

JUPITER ASSET MANAGEMENT LIMITED

6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO

Specify which category or categories of associate (1-8 overleaf)

If category (8), explain

(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES

Signed, for and on behalf of the party named in (4) above N/A

(Also print name of signatory) GERRY ABSALOM

Telephone and extension number 020 7314 4785

NOW BY HSOS

Company HBOS PLC
TIDM HBOS
Headline Rule 8 - Inter-Alliance group
Released 11:10 19 Apr 2004
Number 7364X

FORM 8.1/8.3


Lodge with a RIS or Newstrack if appropriate and the Takeover Panel. Use a separate form for each class of securities in which dealings have been made.

Date of Disclosure

19/04/2004

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing

16/04/2004

Dealing in (name of company)

Inter-Alliance Group plc

1. Class of securities (eg ordinary shares)

Ord 1p

2.

Amount

bought
Amount

Sold
Price

per unit

1
0.0175




3. Resultant total of the same class owned or controlled (and percentage of class)

.72,361,478.7.970%

4. Party making disclosure

HBOS plc

5. EITHER (a) Name of purchaser / vendor (Note 1)

HBOS plc and its subsidiaries

OR (b) if dealing for discretionary client(s), name of fund management organisation



6. Reason for disclosure (Note 2)



(a) associate of

(i) offeror (Note 3)

NO

(ii) offeree company

YES

Specify which category or categories of associate (1-8 overleaf)

6

If category (8), explain



(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or more of the class of relevant securities dealt in)

YES

Signed, for and on behalf of the party named in (4) above



(Also print name of signatory)

Kenny Melville

Telephone and Extension number

0131 243 8671

AND AGAIN BY SOC GEN ON THE 21/04/04

Company Societe Generale Asset Mngmt UK Ld
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 09:23 22 Apr 2004
Number 8809X

RNS Number:8809X
Societe Generale Asset Mngmt UK Ld
22 April 2004


Date of Disclosure 22/04/04


DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing 21/04/04

Dealing in INTER ALLIANCE GROUP PLC (name of company)

1) Class of securities (eg ordinary shares) ORD

2) Amount bought Amount sold Price per unit

5,000,000 0.015

3) Resultant total of the same class owned or controlled
(and percentage of class) 78,804,199 (8.70%)


4) Party making disclosure SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED


5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation SOCIETE GENERALE ASSET MANAGEMENT UK
LIMITED

6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO

Specify which category or categories of associate (1-8 overleaf)

If category (8), explain

(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES

Signed, for and on behalf of the party named in (4) above N/A

(Also print name of signatory) MYRA RAND

Telephone and extension number 020 7815 8608

MORE from Jupiter

Company Jupiter Asset Management Limited
TIDM
Headline Rule 8 - Inter-Alliance Gp
Released 11:22 28 Apr 2004
Number 0839Y

RNS Number:0839Y
Jupiter Asset Management Limited
28 April 2004

Date of Disclosure 28TH APRIL 2004

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing 27TH APRIL 2004

Dealing in INTER-ALLIANCE GROUP PLC (name of company)

1) Class of securities (eg ordinary shares) ORDINARY

2) Amount bought Amount sold Price per unit
3,800,000 1.25P


3) Resultant total of the same class owned or controlled
(and percentage of class) 25,000,000 (2.75%)


4) Party making disclosure JUPITER ASSET MANAGEMENT LIMITED


5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation

JUPITER ASSET MANAGEMENT LIMITED

6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO

Specify which category or categories of associate (1-8 overleaf)

If category (8), explain

(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES

Signed, for and on behalf of the party named in (4) above N/A

(Also print name of signatory) DAVID FIELD

Telephone and extension number 020 7314 4915

more soc gen buildin up their stock.

RNS Number:1315Y
Societe Generale Asset Mngmt UK Ld
29 April 2004


Date of Disclosure 29/04/04

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing 28/04/04

Dealing in INTER ALLIANCE GROUP PLC (name of company)

1) Class of securities (eg ordinary shares) ORD

2) Amount bought Amount sold Price per unit

5,000,000 0.0125

3) Resultant total of the same class owned or controlled
(and percentage of class) 83,804,199 (9.25%)


4) Party making disclosure SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED


5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation

SOCIETE GENERALE ASSET MANAGEMENT UK LIMITED

6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO

Specify which category or categories of associate (1-8 overleaf)

If category (8), explain

(b) Rule 8.3 (ie disclosure because of ownership or control of 1%
or more of the class of relevant securities dealt in) YES

Signed, for and on behalf of the party named in (4) above N/A

(Also print name of signatory) MYRA RAND

Telephone and extension number 020 7815 8608

NOW MERRIL LYNCH JOINTS THE FEAST:


Company Merrill Lynch Investment ManagersLd
TIDM
Headline Rule 8 - Inter-Alliance Group
Released 10:56 30 Apr 2004
Number 1913Y






FORM 8.1/8.3


Lodge with a RIS or Newstrack if appropriate and the Takeover Panel. Use a separate form for each class of securities in which dealings have been made.

Date of Disclosure

30th April 2004

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Date of dealing

29th April 2004

Dealing in (name of company)

Inter-Alliance Group Plc

1. Class of securities (eg ordinary shares)

1p Ordinary Shares

2.

Amount

Bought
Amount

Sold
Price

Per unit

120,000
1.35p




3. Resultant total of the same class owned or controlled (and percentage of class)

14,475,989 (1.59%)

4. Party making disclosure

Merrill Lynch Investment Managers Limited

5. EITHER (a) Name of purchaser / vendor (Note 1)



OR (b) if dealing for discretionary client(s), name of fund management organisation

Merrill Lynch Investment Managers Limited

6. Reason for disclosure (Note 2)



(a) associate of

(i) offeror (Note 3)

XXX / NO

(ii) offeree company

XXX / NO

Specify which category or categories of associate (1-8 overleaf)



If category (8), explain



(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or more of the class of relevant securities dealt in)

YES/ XX

Signed, for and on behalf of the party named in (4) above



(Also print name of signatory)

Katey Neate

Telephone and Extension number

020 7964 5641

TRADING STATEMENT ON THE 07/05/04

Company Inter-Alliance Group PLC
TIDM IAL
Headline Trading Statement
Released 17:41 5 May 2004
Number 3438Y






RNS Number:3438Y
Inter-Alliance Group PLC
05 May 2004

Inter-Alliance Group PLC ("Inter-Alliance" or the "Company")

Trading Statement

Earlier today Inter-Alliance Group PLC announced that its merger discussions
with Berkeley Berry Birch plc had been discontinued. Whilst the Directors are
obviously disappointed that these discussions were not concluded successfully,
they are pleased to report that during that time Inter-Alliance has continued
along its pathway towards profitability through an outstanding set of new
business results in the first quarter.

Unaudited results for the year ended 31 December 2003

The Group's annual report and accounts for 2003 are in the final stage of the
audit process and are expected to be released shortly.

Those accounts will confirm the significant progress the Group has made in 2003.
Gross revenue for 2003 was up by 22.5% over the previous year at 63.6m (2002:
51.9m). In addition, the annualised increase in productivity over that period
was a very pleasing 25.9% over the equivalent figure for 2002 (55,000 over
43,700).

This progress has been supported by the growth in the number of the Group's UK
based Advisers. At the end of 2003, the Group had 1,208 - an 11% increase over
January 2002.

The profit and loss account shows a gross profit of 16.0m (2002: 10.2m) and an
operating loss before exceptional items of 20.0m (2002: 11.0m).

However, the significant improvement in the second half operating loss before
exceptionals to 5.3m (H1 03: 14.7m) indicates the progress being made. As part
of the restructuring exercise the Group also incurred a charge of 13m for
exceptional costs of which 6m relates to the fundamental restructuring and 7m
to write downs and provisions for onerous leases, contracts and balances arising
as a consequence of the restructuring. The majority of these latter provisions
were not cash costs. Normal operating costs for the year before the above but
including those normal operating costs assumed from former associate companies
amounted to 36m of which 21m occurred in the first half and 15m in the second
half. Cash or cash equivalents at the year end were 10.4m.

2003 was a year of major cost saving initiatives across the Inter-Alliance
Group. These significant cost saving actions resulted in a halving of the staff
numbers to 298 at the present time and in the number of operating premises from
59 to 26. These steps reduced the annualised overhead run rate to approximately
24m at the year-end. Further cost reductions amounting to approximately 2m
scheduled for implementation around the year-end were deferred so as not to
prejudice benefits that were expected to arise from the merger.

This radical restructuring has produced a company in which far fewer people now
provide a much more cost effective and improved service for our Advisers.

On the revenue side of the business, the successful launch and development of
PMH Alliance allowed Advisers (both established and newly recruited to PMH
Alliance) to place their non-regulated business through the Company. This move
has proven to be very successful with the monthly revenue via PMH Alliance
running at approximately 1m at the year end. Building on the success of this
strategy, the Group has developed a comprehensive whole of market proposition to
take full advantage of the forthcoming opportunities to bring mortgage and
general insurance business within the Group.

With the proven track record for restructuring the business, removing
significant cost and introducing new distribution strategies, the Directors are
confident that the Group is increasingly well placed to maximise the
opportunities emerging from technological and regulatory change. At the heart of
the strategy the Group intends to give all of its Advisers the reason and the
opportunity to place all their business via the Group.


Current trading

The Directors are pleased with first quarter trading results. The number of UK
based Advisers has increased and the volumes of both submitted and issued
business are up by 23% on the comparable period last year. The Directors are
convinced these results are a direct consequence of the actions taken to
restructure and introduce new revenue lines to the Group.

Whilst certain identified cost saving plans were deferred others have recently
been implemented including the rationalisation of our support centre facilities
to a more cost effective footing. The Directors are confident that they will
reduce the Group's annualised cost base to below 20m by the end of the year.
The deferral of certain cost saving actions and the investment in the
development of the mortgage proposition will delay the Group's achievement of
positive cash flow and monthly profitability until the final quarter of this
year, with the full impact of those changes coming through in 2005.

Obviously the announcement that merger talks with Berkeley Berry Birch plc have
been discontinued is disappointing however, despite their belief in the merger,
the Directors have had alternative plans in place to deal with the eventuality
that the merger could not proceed. The plans include revising the Group's
corporate structure, aimed at achieving a more efficient framework for meeting
technical regulatory requirements. The Directors are also committed to
continuing to drive the range of strategic initiatives outlined above. These
plans, which include the continuation of further cost saving initiatives, the
comprehensive mortgage strategy and the drive towards even greater technological
support to Advisers may require additional funding to secure their successful
implementation.

The Directors believe that the significant progress made by Inter-Alliance Group
is as a direct result of the exceptional hard work and achievement demonstrated
by the Group's advisers and staff.


For further information:

Keith Carby 01285 886700
Chairman & Chief Executive
Inter-Alliance Group PLC

DIRECTORS REMOVED.



Company Inter-Alliance Group PLC
TIDM IAL
Headline Directorate Change
Released 07:00 13 May 2004
Number 6128Y






RNS Number:6128Y
Inter-Alliance Group PLC
13 May 2004



Inter-Alliance Group PLC ("Inter-Alliance" or "the Company")

Inter-Alliance announces that Phil Lockyer and Mike Achilles have resigned as
directors of the Company. By mutual agreement, this is effective from today. The
directors of Inter-Alliance would like to thank both Phil and Mike for their
contribution to the group's progress.

For further information:

Geoffrey Pelham-Lane Tel +44 (0)20 7269 7229
Financial Dynamics

RNS Number:4654Z
Inter-Alliance Group PLC
07 June 2004


7 June 2004

Inter-Alliance Group PLC AND MILLFIELD GROUP PLC in merger discussions

The Boards of Inter-Alliance Group PLC and Millfield Group PLC announce that
they are in discussions, which may or may not lead to a merger of their
companies. Discussions are making good progress and shareholders will be advised
of developments at the appropriate time.

ENDS.

WHAT IS THE MKT CAP FOR IAL? WHAT WILL BE THE BENEFITS FOR SHARE HOLDERS IF MERGERS GOES THRU? AS YOU CAN SEE A LOT OF INVESTMENT HOUSES BEING BUYING BEFORE THE MERGER WS ANNOUNCED? ANY IDEAS OR VIEWS WILL BE WELCOME.

Company Inter-Alliance Group PLC
TIDM IAL
Headline Relevant Securities
Released 08:05 8 Jun 2004
Number 5117Z






RNS Number:5117Z
Inter-Alliance Group PLC
08 June 2004


Inter-Alliance Group PLC

8 June 2004

Relevant Securities

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers,
Inter-Alliance Group PLC confirms that it has 907,895,248 ordinary shares of 1
pence in issue (ISIN GB000283113) and 78,859,451 ordinary shares of 1p each
shares under option.

Contact:

Michael Burne, Legal Director 01285 886706
Inter-Alliance Group PLC

150% of nothing is.............nothing!

wot???

SuHelen, i see you picked ial as one of your stocks in the stock pickers competition, have you got an up to date view on them

Leave them well alone cath...I certainly have....delay in releasing results is putting pressure on the price.

9 June 2004



FORM SAR 3


Date of disclosure... 9th June 2004 ...

DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ("SARs")


Date of acquisition... SEE ATTACHED SCHEDULE OF DISCRETIONARY SHARES MANAGED
Acquisition in........ INTER ALLIANCE GROUP PLC ............(name of company)


(1) Class of voting shares Number of shares/rights If rights over shares
(eg ordinary shares) over shares acquired acquired, as opposed
to the shares
themselves, specify
nature of rights

ORDINARY SHARES .... ..2,000,000.....shares NOT APPLICABLE
ON 7TH JUNE 2004
...N/A..........rights


(2) Resultant total holding Resultant total holding Total percentage
of voting shares (and % of rights over shares
of total voting shares (and % of total voting
in issue) shares in issue)

12,258,333...(1.35%) ...............( %) .... 1.35% ( %)


(3) Party making disclosure....... EDEN GROUP PLC .....................

(4) (a) Name of person acquiring shares or rights over shares PERSHING
NOMINEE
and, if different, beneficial owner... SEE SEPARATE SCHEDULE ...

(b) Names of any other persons acting by
agreement or understanding (see SAR 5)...... NONE ............


Signed, for and on behalf of the party named in (3) above... JOHNSON-COLE ...

(Also print name of signatory)..... WALTER JOHNSON-COLE ..................

Telephone and extension number..... 0207 509 7440 .........................

Note 1. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.

Note 2: The resultant total percentage holding of voting shares and rights over
shares is to be calculated by reference to the percentage held and in issue
outside treasury.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129. E-mail: monitoring@disclosure.org.uk

Inter Alliance


Client Ref Client Name Nominee Qty Book Cost Purchase Date Shares

KSABBEDI Abbott Mrs E D M 700,000 15,563.13 21/07/03 500,000
08/01/04 200,000

KSBALNFI Baldock N F 700,000 15,563.13 21/07/03 500,000
08/01/04 200,000

KSBRANI Barnard Miss A T 90,000 2,425.65 08/01/04 90,000

KSCHAKJI Chandler K J 450,000 9,988.83 21/07/03 325,000
08/01/04 125,000

KSEGLCRI Eglington Mr C R J 1,000,000 8,000.00 21/07/03 1,000,000

KSGREENI Greenleaves 200,000 5,378.13 08/01/04 200,000

KSHAYDBI Burstow Mr D - SIPP 300,000 8,062.19 08/01/04 300,000

KSHAYHOBI Hobart Mr C - SIPP 260,000 6,988.57 08/01/04 260,000

KSHAYJB1 Brocklebank 150,000 4,036.10 08/01/04 150,000

KSHAYMOI Moxon Mr J W J 1,000,000 20,261.OO 21/07/03 1,000,000

KSHAYWAI Warner-Allen - SIPP 140,000 3,155.40 07/01/04 140,000

KSHILSI Hill Mrs S H 300,000 6,155.00 21/07/03 300,000

KSMACMI Mack Mr A G 2,500,000 52,994.50 21/07/03 1,250,000
05/01/04 1,250,000

KSMACNII Mack Family Children's 250,000 5,094.17 21/07/03 375,000
Tst No 1 26/05/04 (-125,000)

KSMACNZI Mack Family Children's 333,333 6,789.99 21/07/03 500,000
Tst No 2 26/05/04 (-166,667)

KSENTCNI Nettle Mrs C G 200,000 4,080.00 21/07/03 200,000

KSNOBEMI Noble Mrs E M 360,000 8,384.50 21/07/03 200,000
08/01/04 160,000

KSPPMRDI Dempster Mr R 175,000 3,571.25 21/07/03 175,000

KSWALMJI Walters Mr M J 250,000 5,097.50 21/07/03 250,000

KSWALRCI Walker Mrs R C 500,000 11,168.60 21/07/03 350,000
08/01/04 150,000

KSWALWGI Walker Mr W G T 200,000 4,080.00 21/07/03 200,000

KSWARJCI Warner-Allen Mr J C 2,000,000 19,273.50 21/07/03 350,000
10/09/03 (-350,00)
07/06/04 2,000,000

KSWHIJWI Whittle Mr J W 200,000 5,378.13 08/01/04 200,000



TOTAL 12,258,333





This information is provided by RNS
The company news service from the London Stock Exchange
END

After IAL's failed attempt to merge with rival BBB, I was sure there would be another attempt.

In my opinion, IAL believes that size matters in gaining more advisers to achieve critical mass and a value either on the stock market or as an acquisition, which will most likely be by a product provider. You may ask why would IAL be a target for a product provider when their major shareholders include the likes of "Gartmore" and "HBOS". I believe this is more of a defensive strategy to avoid IFAs, like IAL, falling under the control or influence of main competitors.

All major shareholders increased their holding a few months ago after BBB's merger news. I would expect the same to happen this time around, because IAL will become a takeover target if this merger goes ahead as it will be better positioned than its 6 other quoted rivals.

Basically, if this merger goes ahead IAL's shareholders will be the happiest in the stockmarket.

Anyone want to enlighten us why after 1.5 mil buys and no recorded sells it drops 13.6%. Does that mean the the MMs have large ampount in hand and/or a massive sell will be recorded at and of play to-day

from my inquiries it is clear that it is almost hit and miss as to whether a transaction is recorded correctly as a buy or sell. there is a whole host of reasons. so my conclusion is to take at least two pinches of salt before concluding that the buy/sell figures are any thing like accurate!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Yes . . . I bought a few days back @ 1.1p and wasn't too worried when they almost immediately fell back to .65p - but I have to admit that I am mightily puzzled at todays drop when I see all the sells.

Does anyone, more informed than I, have any thoughts on this?

why is nobody picking this one up on here

Posts between Jun and earlier in Aug seem to be missing !

What is there to say ? ...Everyone's who's not sold is sitting on a big loss with this one. I guess everyone is waiting for the dust to settle and to be able to at least get back to where they got in or even make a profit !However long it takes..

Yep! You are dead right there, skyhigh. I am lucky in that I only went in very small with IAL - but now that I have had to accept the share offer, I am just sitting, waiting to see what my new, bright, shiny, Millfield shares will be worth - then sell the buggars bloody quick!