Inter-Atlantic Financial, Inc. (NYSE Alternext US: IAN) (the �Company�) announced today that it received notice from the NYSE Alternext US, LLC (�Exchange�) indicating that it was not in compliance with Section 704 of the NYSE Alternext US Company Guide (the �Company Guide�) because the Company did not hold an annual meeting of its stockholders during the year ended December 31, 2008. The Company is in receipt of this letter although the Company�s counsel, at the Company�s direction, previously contacted the Exchange and was informed verbally that due to the timing of the Company�s initial public offering the Company would not be required to have an annual meeting until 2009.

The notification from the Exchange indicates that the Company has until March�10, 2009 to submit a plan advising the Exchange of action it has taken, or will take, that would bring the Company into compliance with all continued listing standards by August�11, 2009. Upon receipt of the Company�s plan, which the Company anticipates filing with the Exchange prior to the March�10, 2009 deadline, the Exchange will evaluate the plan and make a determination as to whether the Company has made a reasonable demonstration in the plan of an ability to regain compliance with the continued listing standards, in which case the plan will be accepted. If accepted, the Company will be able to continue its listing, during which time the Company will be subject to continued periodic review by the Exchange�s staff. If the Company�s plan is not accepted, the Exchange could initiate delisting procedures against the Company.

Inter-Atlantic Financial, Inc. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination with one or more operating businesses in the financial services industry.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined by the United States Private Securities Litigation Reform Act of 1995. This press release may contain certain forward-looking statements including statements with regard to the future performance of the Company. Words such as �believes,� �expects,� �projects,� "will"�and �future� or similar expressions are intended to identify forward-looking statements. Any such forward-looking statements contained herein are based on current expectations, but these forward-looking statements inherently involve certain risks and uncertainties that may cause actual results to differ materially from expectations such as material adverse events affecting the Company, the ability of the Company to complete a business combination and those other risks and uncertainties that are detailed in the Company�s Prospectus and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Inter-Atlantic Financial (AMEX:IAN)
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