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IA Global Receives Dismissal of Krakowski Arbitration

BURLINGAME, California – (PRESS RELEASE) -- IA Global Inc. (Amex: IAO) announced that it had received a dismissal of the Krakowski arbitration from the American Arbitration Association.

As previously disclosed, on September 26, 2003, Andzej Krakowski, a former employee of foreignTV.com, Inc., filed a civil action seeking damages and injunctive relief for (i) statutory damages, costs and attorney fees resulting from our alleged willful copyright infringement, (ii) monetary damages in the amount of $436,477 for alleged breach of an employment agreement with foreignTV.com, (iii) the issuance of 180,000 shares of common stock in IA Global, (iv) monetary damages for alleged fraud, (v) monetary damages of at least $1,200,000, and (vi) punitive damages, costs and attorney fees. On January 10, 2004, the United States District Court for the Southern District of New York dismissed without prejudice the complaint filed by Andzej Krakowski. On February 9, 2004, Mr. Krakowski filed for arbitration with the American Arbitration Association in East Providence, Rhode Island.

The company also announced that projected revenues would be $6,000,000-$7,000,000 for the 1st quarter of 2005 at current exchange rates. Previous guidance released in our February 15, 2005 earnings press release was $9,200,000 to $10,000,000 for the 1st quarter of 2005 as compared to $2,031,000 for the same period in 2004.

The company's CEO, Alan Margerison, said, "We are pleased to announce the dismissal of the Krakowski arbitration. Also, Rex Tokyo had a weaker quarter than expected due to reduced new store openings by its major customers. The quarter ending March 31 is typically Rex Tokyo's lowest revenue quarter because its major customers have a March 31 year-end and new budgets are not available until April 1." We expect to release our results for the quarter ended March 31, 2005 in late April, 2005.

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