“We issued an RFP to Intangible Business Ltd. as well as two other internationally recognized valuation firms, including a Big 4 firm.

The IBL team quickly understood our goals and the challenging technical and practical issues we faced in completing extensive worldwide valuation work for a multi-billion dollar acquisition in a compressed time frame. IBL was able to develop a proposal that reflected in-depth knowledge of valuation requirements for the various assets being acquired.

Despite being a smaller firm, IBL grasped complex technical accounting concepts and associated treatment required by the structure of the transaction and worked effectively with our external auditors to ensure agreement during the entire process.

Their experience was evident both in content and presentation of the deliverables, engagement challenges were addressed quickly, and they did not lose site of the bottom line. We are pleased with the outcome of this engagement.”

Nadine Heidrich, Vice President and Corporate Controller

“Laura Ashley employed Intangible Business as experts to give evidence in the International Chamber of Commerce courts in Paris for the purpose of evaluating the change in value of the Laura Ashley brand between 1995 and 2002. We found Intangible Business to possess an in depth understanding and appreciation of our business and were capable of clearly demonstrating the relationship between consumer loyalty, brand image and market performance with that of financial performance. They provided far reaching insight into the brand and the business and delivered a service ahead of demanding expectations”.

William Williams, Head of Legal - Laura Ashley

‘Intangible Business delivered brand valuations for ‘Travelbag’ and ‘Bridge The World’ which was based on commercial reality and in context with the financial capabilities of the business. The brand valuation project influenced many key areas of the business including finance, marketing and operations. The project was undertaken by experienced professioinals who quickly and effectively delivered a robust brand valuation that could be applied to the filed accounts of the company and could be signed off by management and auditors.’

Nigel Addison Smith, Chief Financial Officer - ebookers Plc

“Intangible Business valued the entire portfolio of Allied Domecq Plc’s global spirits and wine brands for the purpose of its New York stock exchange listing. Allied Domecq successfully achieved the dual-listing in August 2002, with its first filing accepted by the SEC. As part of the process, Intangible Business also integrated a brand value tracking system for us to conduct ongoing impairment reviews and portfolio management.”

Mark Holloway, Commercial Director - Allied Domecq

“Cape Wools SA has had a major dispute over the last 5 years relating to its interests in the Woolmark, one of the world’s largest ingredient textile brands. One of the key issues was the value to be placed on the Woolmark and during the course of the dispute we experienced expert valuation evidence from no less than 11 firms in the UK, Australia and USA. These firms included several from the Big 4 accounting firms, smaller accounting and boutique valuation firms. We are able to say that Cape Wools SA was fortunate to have retained the services of Intangible Business as our lead consultants and valuers. We considered Intangible Business was by far the best of these, in terms of their responsiveness, quality of service, in-depth research and analysis, and value for money. We would have no hesitation in recommending their services.”

Mr Norman Myers Attorney and Notary Public on behalf of Cape Wools Port Elizabeth South Africa

“The Memorial Fund is pursuing a unique project that required a careful understanding of complex issues and our requirements are definitely out of the ordinary. Intangible Business quickly demonstrated a clear understanding of the sensitivities, and how to develop an appropriate solution. We were very pleased with the results”

Gavin Coopey, Head of Commercial and Licensing - Diana Princess of Wales Memorial Fund

‘During the latter part of 2003, the Regional Brands group of Japan Tobacco International (JTI) needed to develop a comprehensive dynamic brand planning tool and document that positioned the relevance of the group’s 52 regional brands in the context of the whole group as well as within a global competitive context. This required a unique combination of knowledge and skills in terms of commercial operational capability, marketing and financial as well as the ability to communicate issues powerfully and with real clarity.

Intangible Business delivered beyond expectations taking the best of internal views and expert knowledge and overlaying this with real insight and perspective displaying a capability to think outside the box yet stay on track to deliver the brief. Additionally, as Brand Group GM at that time, I would also like to compliment Intangible Business, Stuart Whitwell, and his team on their commitment, strategic insight and industry in completing a very stretching taks in a timely and professional manner'.

Hamish A. Moore, Vice President - JTI

"Medicsight Inc asked Intangible Business to give an opinion on the value of 15,000,000 Medicsight plc shares issued to Medicsight Inc in November 2001 and applied in settling an outstanding purchase consideration due to Nightingale Technologies Limited.  This was a sensitive and contentious issue for us, as this (and related issues) would need to be reported in Medicsight's annual report (form 10K) with the SEC.

"Intangible Business prepared a well analysed and researched report valuing these shares which Medicsight considered appropriate to adopt in its annual report. This resulted in a revised value some US$115 million different from before. The SEC filing included the report from Intangible Business and can be found on the SEC web site, as part of form 10K filed in April 2004 (http://www.sec.gov/Archives/edgar/data/1001601/000104746904011287/a2132734zex-99_1.htm).  Their work was self evidently effective and their approach was efficient; thorough; quick; and commercial, and they worked well as a team with Medicsight representatives. We have no hesitation in recommending Intangible Business for share, business and intangible valuation advice significant to the financial markets."

Stephen A Forsyth, Chairman

“The Glasshouse business, as a premium womenswear fashion chain, was at a critical stage in development when we engaged the services of Intangible Business. The insights and opportunities they have provided to us have enabled us to build a stronger, more profitable business platform, from which to embark on a strategically-focused expansion plan.”

Janice Culshaw & Helen Gregory-Osborne, Joint Managing Directors - The Glasshouse

“Intangible Business was introduced to me as experts in intellectual property valuation. I was very impressed with their professional approach and timely delivery, on brief. They showed real understanding of my business and given the opportunity, I would happily work with them again”.

Paul Artemi, Managing Director

"Intangible Business responded quickly to our need for a valuation of the intellectual property held within our client's company and quickly understood the complicated issues involved. Their work was carried out in a professional manner, on time and on budget. The valuation processes were fully explained and presented in a manner suitable for presentation to HM Revenue and Customs. I would have no hesitation in recommending or using their services again."

Tax Partner, Top 20 Accountancy Firm

"Intangible Business adopted a thorough and commercial approach to valuing the intangible assets and goodwill related to the acquisition of a UK biodesel startup at two dates, in accordance to US GAAP and SEC requirements. Their robust approach contributed to a successful filing and provided useful insights to help us develop the business. They were responsive, clear and quickly understood the complex commercial environment."

Paul Gothard, Chief Financial Officer, Flex Fuels Energy, Inc