Information Services Group Inc. — Director's Dealing 2008

May 30, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Information Services Group Inc. (III)
CIK: 0001371489
Period of Report: 2008-01-31

Reporting Person: SEMLER ERIC (10% Owner)
Reporting Person: TCS Capital GP, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-05-28	Common Stock	P	615000	$4.9997	Acquired	4594300	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-01-31	Common Stock Warrants (right to buy)	$6.00	P	3979300	Acquired	2011-01-31	Common Stock (3979300)	Indirect

Footnotes

F1: The filing of this Form 4 shall not be construed as an admission that TCS Capital GP, LLC ("TCS") or Eric Semler, the managing member of TCS, is or was for the purposes of Section 16(a) of the Securities Exchange act of 1934, as amended, or otherwise the beneficial owner of any of the common stock, par value $0.0001 per share (the "Common Stock"), of Information Services Group, Inc. (the "Issuer") owned by TCS Capital, L.P., TCS Capital II, L.P., and TCS Capital Investments, L.P (collectively, the "Funds"). Pursuant to Rule 16a-1, both TCS and Mr. Semler disclaim such beneficial ownership beyond their pecuniary interest.

F2: The Funds hold 3,979,300 of their shares of Common Stock in the form of units of the Issuer (the "Units"). Each Unit consists of one share of Common Stock and one redeemable common stock purchase warrant (the "Warrants"). The Units were purchased by the reporting persons for an average price of $8.18 per Unit.

F3: TCS holds indirectly Common Stock and Units for the accounts of the Funds, of which TCS is the general partner. TCS receives an allocation of a portion of net profits from and owns a partnership interest in the Funds. Mr. Semler reports the shares held indirectly by TCS because, as the manager of TCS, at the time of purchase, Mr. Semler controlled the disposition and voting of the securities.

F4: The Funds hold the 3,979,300 Warrants in the form of Units. The Units were previously reported by the reporting persons on a Form 3 filed on 12/07/2007. The inclusion of the Warrants in this Form 4 is to report that the Warrants have become exercisable as of 01/31/2008.