Strategic Investment

Evolution Group PLC
29 January 2002



29 January 2002



                  THE EVOLUTION GROUP plc ('Evolution Group')


      STRATEGIC INVESTMENT IN INTER-ALLIANCE GROUP PLC ('Inter-Alliance')



Evolution Group, the AIM listed investment bank specialising in enabling
technologies and retail asset management, announces today that it has made a
strategic investment in Inter-Alliance, the UK's largest national independent
financial advisory group.



Evolution Group has today acquired, at 24p per share, 6,551,510 ordinary shares
of 1p each representing approximately 12.6% of Inter-Alliance's current issued
share capital. These shares were acquired from Stuart McGreevy, Group Chief
Executive, and David Garofalo, Group Managing Director, who were the founders of
Inter-Alliance.  Messrs. McGreevy and Garofalo have resigned from the Board of
Inter-Alliance with immediate effect.



Keith Carby, a non-executive Director of Inter-Alliance, has today been
appointed Chairman and Chief Executive and Mike Achilles has been appointed
Chief Operating Officer.



In addition, in order to facilitate this transaction, Vincent Isaacs,
non-executive Chairman, has agreed to sell 27.8% of his holding, amounting to
500,000 ordinary shares of 1p each to Evolution Group at 24p per share.  On the
appointment of Keith Carby as Chairman and Chief Executive, Vincent Isaacs will
no longer be Chairman but will continue on the Board of Inter-Alliance as a
non-executive Director.



Evolution Group's resultant aggregate holding in Inter-Alliance following these
purchases is 7,301,510 ordinary shares of 1p each, representing approximately
14.01% of Inter-Alliance's current issued share capital.



Evolution Group will also provide a loan facility of up to £4 million to assist
Inter-Alliance's current capital position.  In addition, subject to the consent
of the shareholders of Inter-Alliance at an Extraordinary General Meeting to be
convened as soon as is practicable, Evolution Group can elect to convert the
loan, or part of the loan, into Inter-Alliance shares.  On full conversion of
the loan, Evolution Group's interest will not exceed 29.9% of Inter-Alliance's
enlarged issued share capital.



Alex Snow, Chairman and Chief Executive of Evolution Group, commented: '
Evolution Group views this as an important strategic investment.  We have worked
actively to re-organise management and help secure the future of Inter-Alliance.
We will continue to work closely with the new management team to improve the
growth prospects of Inter-Alliance.'


                                     -Ends-





For further information please contact:




The Evolution Group plc

Alex Snow, Chairman & Chief Executive                      020 7220 4800
Richard Griffiths, Deputy Chairman
Graeme Dell, Finance Director


Altium Capital Limited

Garry Levin, Director                                      020 7484 4040
Ben Bailey, Assistant Director

Hogarth Partnership Limited

Andrew Jaques, Partner                                     020 7357 9477
Georgina Briscoe, Associate


For further information on Evolution Group please go to www.evolution-group.com



Copies of this statement will be available for a period of 14 days from
Evolution Group's registered office at 29-30 Cornhill, London EC3V 3NF.



Notes to Editors:



The Evolution Group plc is an independent investment bank which provides equity
research, trading, strategic advice and proprietary funding for public and
private companies seeking to identify and develop new enabling technologies
capable of global, commercial exploitation.  Evolution Group's key sectors of
research and expertise are: Wireless and Electronics, IP Exploitation, Emerging
Engineering Technology, Life Sciences (including Nanotechnology), and Software
and Services.  The company publishes research in these areas for institutional
investors and provides due diligence and advisory services to both private and
public companies.

Evolution Group's retail financial services brand is Christows which operates
from offices in London, Bournemouth and Exeter.  Evolution Group is listed on
AIM with a current market capitalisation of over £100 million.





Inter-Alliance Group PLC is AIM listed and is the largest National Independent
Financial Advisory Group in the UK.  The company currently has around 80
practices worldwide with approximately 1,800 personnel.  Inter-Alliance was the
first National Independent Financial Adviser to be registered for all
operational systems with the British Standards Institution using ISO 9002, the
internationally recognized standard.

Inter-Alliance offers the widest range of Unit Trusts, Investment Trusts and
Open Ended Investment Companies available via the Internet in the UK.  A choice
of funds that can be transacted on-line will continue to be expanded as
investment houses and product providers launch their on-line capability.  For
those product providers that do not provide on-line investment capability, the
ISA Centre and Fund Store offer on-line application forms.



Inter-Alliance has a current market capitalisation of approximately £30 million.



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