INTL TRADINGa subsidiary of

International Assets Holding Corporation

NOTICESome of the information contained in this presentation represents material,

non-public information. This presentation shall not be circulated or distributed to anyone other than the intended recipient. This document is

not an offer to sell any security mentioned herein..

New YorkNew York

LondonLondon

MiamiMiami

Buenos AiresBuenos Aires

São PauloSão Paulo

MontevideoMontevideo

DubaiDubai

SingaporeSingapore

Hong KongHong Kong

International Assets Holding Corporation (INTL) is an independent, publicly held financial services firm focused on select, niche international markets. Using its capital and expertise, INTL facilitates wholesale, cross-border financial flows through “investment banking, market making and trading of international instruments.

DJ US broker dealers’ top performing financial stock for the last 3 and 5 years (among 280 companies in the index) and the DJ Financial sector’s #1 stock for the last 3 and 5 years. Our ticker is IAAC.

No. 550 on Fortune 500 list (based on six-month revenues) .

5 different business lines in 11 offices worldwide, through which we provide competitive execution to wholesale customers in the following products:

Ø 8,000 unlisted ADR’s and ordinary stocks in over 20 countriesØ More than 160 currencies Ø Over 500 fixed income instruments in over 30 countries Ø Precious and base metals dealers in physical, forward, and OTC derivativesØ All types of capital markets deals in Latin America, Asia, and the Middle EastØ No. 1 ABS player in South America with 80% market share

Our Business

Public Company - Established in1981 and listed on NASDAQ since 1994 under ticker“IAAC”. Regulated by the SEC and FINRA (formerly NASD).New Management - In a transaction concluded in Feb 2003, a new management team injected equity into INTL and took management control. This team was previously instrumental in building from the ground up a significant international capital markets business and commodities trading business for an multinational bank.Top Performance - Transformed over the last 5 years with revenues increasing over30X, equity capital increasing 15X and stock one of the top performing financial services ones in the US (up 40X).Diversified Services - 5 business units: equity market making, international debt capital markets, exotic foreign exchange, precious and base metals and asset management.Strong Ownership - 27% owned by new management and 16% by Leucadia National Corp. (NYSE ticker “LUK”, a major diversified holding company with a market value exceeding $11 billion as of March 2008)Experienced Professionals - INTL has over 170 experienced professionals, most with over 15 years experience each in their markets.New Capabilities - INTL recently purchased Gainvest, the largest securitization shop in Argentina with presence in Brazil and Uruguay.

Recent History

International markets: focus on the more complex, less liquid international financial markets. We actively trade in over 100 markets. Niche approach: focus on niche opportunities in the international financial markets that are not well covered by the larger investment and commercial banks.Wholesale customers: predominantly broker dealers, banks, corporations, funds, and charitable entities. Specialist expertise: we provide specialist expertise and service in these markets.Trading-focused: we commit our capital to provide our customers with liquidity and efficient execution in these more difficult and less liquid markets.Under-served customers: focus on customers and/or transactions not targeted by the larger investment and commercial banks.Local capital markets: we structure and execute debt transactions in the local capital markets in many jurisdictions, especially in Latin America.Technology: use technology wherever possible to provide scale and efficiencies. Provide our customers with technology trading solutions.

Business Approach

Broad Geographic FootprintRelationships in over 160 countries

INTL Business INTL Business ActivityActivityINTL Business INTL Business ActivityActivity

Dubai

Orlando

London

Ft. Lauderdale

New York

Buenos Aires

Miami-

Singapore

Hong Kong

Sao Paulo Montevideo

Our CustomersProviding Financial Solutions to Wholesale End Users

We deal with commercial counter-parties who are end-users of our financial products and services – have very few hedge fund or speculative clients.

Our clients perceive us as a financial service provider, not just an execution intermediary.

We are relationship driven, not necessarily price driven.

We count some of the largest banks, governmental agencies, corporations and NGOs in the world amongst our clients. While in certain cases we may service them in a limited capacity we solve a disproportionate share of their “headaches”.

GrowthMark-to-Market Results

GrowthVolume

Strong underlying growth in transactions – more than 40% p.a.

Strategic ExecutionModular build-out drives Revenue Growth

Capital Markets (INTL Trading, Inc.)Ø Debt/Equity Origination and Structuring: We originate and structure a wide array of

emerging market transactions, from straight bond issues to asset-backed deals placed globally. We specialize private placement transactions and securitization structures.

Ø Fixed Income Trading: We actively invest and trade in both investment-grade and high-yield emerging market bonds, including sovereign, corporate and bank issues.

International Equity Market-Making (INTL Trading, Inc.): Major market-making to wholesale customers in unlisted ADR’s and foreign ordinaries in over 50 markets. Foreign Exchange (INTL Global Currencies, Inc.): Provide F/X and treasury services to over 250 charitable non-for-profit entities as well as corporations in over 100 countries. Focus on illiquid, difficult markets not serviced by larger banks. Commodities Trading – Precious and Base Metals: Provide full range of trading products – spot, forwards and hedge programs – to producers and consumers. Asset Management (INTL Consilium, LLC – Hedge Fund): Provide absolute return, low correlation hedge-fund products focused on emerging markets to institutional and sophisticated investors with over $1.5 billion assets under management.

Business ActivitiesFocusing on Profitable Niches Larger Players Ignore

Within our broker/dealer, INTL Trading, Inc., we have a senior team of professionals with over 80 years of experience in originating, structuring, and trading in emerging markets with particular emphasis in Latin America.INTL Trading originates and structures a wide array of emerging market debt transactions, from straight unsecured bond issues to complex asset-backed and project finance transactions placed in the international and domestic markets.INTL Trading competes with bulge-bracket investment banks in Latin America by working in close cooperation with large multinational banks, multilaterals, pension funds and hedge funds, combining our expertise and local market’s know-how with the balance sheet strength of our partners.Through Gainvest, INTL can now execute asset-backed transactions in the local capital markets in Latin America, especially in Argentina and Brazil. We also do secondary market trading of EM loans, syndicated loans, and promissory notes resulting from cross-border trade, as well as certain structured products.In Latin America we have placed several funds for the Carlyle family of funds, among others, either directly or through a vehicle we created that acts as the investor of record and places notes with private banking and other types of clients. This vehicle allows a wide array of relatively small investors to access private equity opportunities, thereby substantially expanding your client basis.

1) International Debt Capital MarketsNiche Investment Banking

Gainvest S.A., Gainvest Argentina Asset Management S.A., Gainvest Do Brasil Asset Management Ltda., Gainvest Uruguay Asset Management S.A. and Gainvest Asset Management Limited constitute a group of financial services firms focused on capital markets services, asset and wealth management in Argentina, Brazil and Uruguay for institutional investors, corporations and individuals. The companies initiated operations in Argentina in 2003 and after successfully establishing a reputation and strong market share initiated expansion to neighboring countries. As of 1Q2008 Gainvest manages third party’s assets of nearly US$ 285 million and has structured and arranged in the last 5 years a total of 280 issues of asset-backed securities for Argentine and Brazilian corporations for a volume of US$ 3.5 billion. For the 12-month period ended September 2007, Gainvest had total revenues of US$ 5.3 million, and projected revenues US$6.3 million for 2008.INTL controls 80% of the ABS market in South America.

1) Domestic Debt Capital MarketsArgentina, Brazil

1) INTL Gainvest Debt Capital MarketsThe Emerging Force in the Emerging Markets

No. 1 unlisted ADR market-maker in the US.

INTL is focused on unlisted ADRs and foreign ordinaries – a specialist niche market -as well as select bulletin board stocks.

INTL has significant experience in these markets and understands the complexities of dealing and settlement in these local markets.

INTL makes markets in over 1,000 international equities and will provide prices on over 8,000 international equities.

The stocks we trade include “household names”: Nestle, L’Oreal, Sainsbury, Marks & Spencer, Nintendo, VW, Porsche, etc. In many of these names we account for the major share of volume traded in the US.

Our customers are US broker-dealers (generally the private client area) and include Goldman Sachs, Morgan Stanley, Fidelity as well as smaller regional firms.

We make prices and commit capital to these markets on behalf of our clients - our traders are active 24/24 ensuring superior execution.

2) Equity Market-Making

INTL specializes in providing specialist foreign exchange and treasury services to NGO’s and multi-national corporations doing business in the more difficult emerging markets.

Clients include over 300 NGO’s, UN and bilateral aid agencies, OECD embassies worldwide, and corporations.

We cover over 160 countries, particularly the more exotic, less liquid markets.

In these smaller, more difficult markets, our relationships with a wide variety of local banks allows us to capture very competitive rates not offered by the larger international banks.

Through our FXecute platform we provide an integrated web-based solution for NGO’s to manage large volume currency trade requirements.

3) Foreign Exchange

Truly global precious metal business, major player in physical lead.INTL commits its capital and expertise to provide efficient execution in a variety of base metals as well as gold, silver and platinum group metals to allow producers and consumers to effectively manage exposure and enhance profitability.Ø Physical transactions – delivery locations include most warehouses, major

refineries, consumer and producer facilities;Ø Forwards transactions and future deliveries of physical designed to lock in

pricing;Ø Full range of options and hedging programs to provide price protection to

producers and consumers (min max programs, options strips, etc.)INTL has a full foreign exchange capability allowing to price all products even in exotic and illiquid currencies.Small team with significant experience in a wide variety of metals markets.

4) Precious and Base Metals

5) Asset Management

Ranked top of class hedge fund and No. 1 Convertible Fund, first to market with unique Africa fund and Trade Finance Fund.

Focused primarily on EM investment management, where the principals of INTL Consilium have over 35 years combined experience. Core Relative Value approach with highly focused special situation strategies employed to improve return profile without adding to risk. Top-down macro view of the market synthesized with a bottom-up analysis of individual securities to optimize the portfolio construction. Privately placed hedge fund strategies in Emerging Markets and Convertible Arbitrage, with both excellent returns and solid risk adjusted return profiles. Subadvisor for two registered EM funds in Luxembourg; one in global bonds, the other in local market fixed income. Total firm assets $2.5 billion. Offices in Fort Lauderdale and London. Registered with SEC in the US and authorized by the FSA in the UK.

Sean O’Connor - CEO: One of the founding executives of Standard Bank London (“SBL”), which is now a recognized player in the global emerging markets with a total staff numbering 1,300. As Chief Executive - Americas, Mr. O’Connor had specific responsibility for building, from the ground up, a capital markets trading and origination business in Latin America. More recently, Mr. O’Connor started an asset management business for Standard to leverage their expertise in EM debt. Over the course of two years, more than $500mm were raised for the various products.Scott Branch - President and COO: Mr. Branch was previously with SBL for 8 years and served on the Executive Committee and Country Risk Committee. Mr. Branch was specifically responsible for establishing an EM trade finance origination and distribution business for Standard. During this period, Mr. Branch established Standard as a leader in this market, active in over 40 EM countries. Mr. Branch was responsible for managing a total portfolio of over $400mm in emerging market trade finance and syndicated loan exposure. Peter Wallin – Managing Director: Over 30 years experience in the Latin American financial markets, 19 years with the Midland Bank Group (NY, Venezuela, and Miami) and 9 with Standard Bank in Miami focused on the development of the bank’s capital markets activities in the Americas. Mr. Wallin, originally from Argentina, has developed very strong relationships across the region and participated in numerous successful transactions with sovereigns, banks, and corporate clients.Alessandro Colitto – Head of Structuring: Over 17 years of experience in the origination and structuring of complex international asset-backed and project finance deals. Before joining INTL to head the structuring department, Mr. Colitto was a Managing Partner at Biscayne Bay Group, the structuring agent of the innovative Infonavit MBS program in Mexico. He previously headed Bank of Montreal’s international securitization group in Chicago for 6 years, structuring a large portion of deals closed in Latin America between 1996 and 2001. He also headed Pemex’s and Hacienda’s project finance units in Mexico.Jaime Borja – Head of Syndication: With 15 years of experience in corporate finance, asset management and investment banking. Mr. Borja was previously head of the corpora te finance unit at Banco Popular where he was able to structure some of the first cross-border regional deals in the Andean Region in the mid 90’s. During his career he has arranged and funded several infrastructure and project finance deals across the region. In recent years Mr. Borja has been a member of the investment team at Standard Bank’s asset management group and capital markets origination desks. He has extensive knowledge of the business environment in Latin America across the corporate, banking and government sectors.

Management TeamExperience in all Aspects of International Capital Markets

Diego J. Veitia: Chairman & FounderJohn Radziwill: Audit Committee Chair, Member Compensation and Nominating Committee.

Ø Director of Lionheart Group, Inc., USA Micro Cap Value Co Ltd, Goldcrown Group Limited, New York Holdings Limited, Acquisitor Plc and Acquisitor Holdings (Bermuda) Ltd. Previously served on the boards of Air Express International, Corp., Member of the Bar of England and Wales.

Robert A, Miller, Phd: Nominating Committee Chair, Member Compensation Committee.

Ø President of Nazareth College, Rochester, NY. Director of Bergmann Associates LLC.John Fowler: Compensation Committee Chair, Member Audit Committee.

Ø From 1996 to 1998, was the Chief Financial Officer, Executive Vice President and Director of Moneygram Payment Systems, Inc. He also served as an Executive Vice President of the Travelers Group, Inc. (now Citigroup, Inc.) from 1986 to 1994. In the last five years, he has also served as a director of Air Express International Corp.

Justin Wheeler: Member Audit and Compensation Committee.

Ø Since 2000 executive of the Asset Management Group of Leucadia National Corporation. Also served as President and CEO of American Investment Bank, wholly owned subsidiary of Leucadia.

Auditors: Rothstein, Kass & Company, P.C..

Lawyers: Shutts & Bowen LLPSecurities Clearance: Broadcort, a division of Merrill Lynch, Pierce, Fenner & Smith.

Bankers: Bank of America, Societe Generale, Brown Brothers Harriman, Fortis Bank, Signature Bank.

Non-Executive Directors

Ownership Structure

Institution Name % Outstanding Shares Ownership:

Leucadia National Corp. 17.3 Shares Outstanding 8.00 MilHorizon Asset Management, Inc. 6.5 Institutional Ownership (%) 38.6Bares Capital Management, Inc. 5.3 Top 10 Institutions (%) 37.8Royce & Associates, LLC 2.7 Mutual Fund Ownership (%) 3.67Aletheia Research and Management, Inc. 1.3 5%/Insider Ownership (%) 29.51Lehman Brothers Inc. 1.3 Float (%) 70.49Barclays Global Investors, N.A. 1.3Citi Investment Research (US) 1.2Steinberg Global Asset Management, Ltd 0.5

NASDAQ Ticker: IAAC