Information Services Group Inc. — Director's Dealing 2007

Feb 1, 2007

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Information Services Group Inc. (III)
CIK: 0001371489
Period of Report: 2007-01-31

Reporting Person: Gould Richard (Executive V.P., 10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Shares of Common Stock	7410937	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrants	$6.00	2011-01-31	Shares of Common Stock (6500000)		Indirect

Footnotes

F1: The Shareholder has beneficial ownership of 25% of the membership interests in Oenoke Partners, LLC and has beneficial ownership of the remaining 75% by virtue of having approval rights with respect to a sale of substantially all the assets of Oenoke Partners, LLC.

F2: The Warrants become exercisable upon the later of (i) the consummation of a business combination as described in the Company's Registration Statement on Form S-1 initially filed with the Securities and Exchange Commission on August 11,2006 (333-136536), or (ii)January 31, 2008.

F3: The Shareholder will acquire the Warrants in accordance with the terms and conditions of the Private Placement Purchase Agreement dated January 29, 2007, contemporaneously with the closing of the Company's initial public offering.