IRESS LIMITED — AGM Information 2008

Apr 29, 2008

CHAIRMAN’S ADDRESS TO THE ANNUAL GENERAL MEETING OF

IRESS MARKET TECHNOLOGY LIMITED

TH HELD AT 12:00 MIDDAY ON 30 APRIL 2008

Ladies & Gentlemen before proceeding to the formal business of the meeting I would like to make some comments and observations in relation to the Company’s performance in the 2007 Financial Year, provide a brief update on progress year-to-date and say a few things about our strategic objectives in IRESS.

The results for 2007 were again very pleasing and management is to be congratulated on its continuing efforts. The Company has for the seventh year in a row produced another solid growth in earnings performance. Our core Australian equities business continued its strong organic growth in 2007 and the development of the Wealth Management operations has now produced a division that is a significant component of the group. Canadian equities produced impressive revenue growth and a small profit result for the second half of 2007.

In terms of our operating environment, market volatility and turmoil are at levels not seen in recent years. IRESS, because of the pivotal role it plays in financial markets, is potentially vulnerable to these conditions. At present we are yet to see any material impact on the Company’s performance and the first few months of 2008 have seen continued revenue growth. With a meaningful contribution now also coming from the Wealth Management division, the effect of market conditions in any event is somewhat likely to be mitigated.

Although we are pursuing our objectives of developing new divisions in the business, we are determined never to be complacent about our core Australian equities business. This division is by far the largest contributor in the group and the outlook for the company is largely dependant on the performance of this division. It is of the highest priority to IRESS that we continue to protect our existing position in the Australian market. For example, in 2007 we launched FIX Plus, IOS Plus, and provided significant enhancements to other major product offerings. It is investment such as this which has historically produced strong growth in both our client base and services made available to those clients. It remains our strongest focus to ensure that we are consistently developing and adding value to our business to meet the ever changing and demanding requirements of our customer base.

Our Canadian equities division made extraordinary progress during 2007. You will recall our initial investment in Canada was in 2004 through a joint venture with ITG. We moved to full ownership of the joint venture in 2006 and at the same time entered into an agreement with Reuters for the migration of their clients using the Reuters CX Trader product across to the IRESS Canadian solution. The hard work completed over these first few years has started to bear fruit, with a sustained and meaningful growth in revenues during 2007 and early 2008 as we migrated over 90% of the users of the CX system across to the IRESS replacement products. As a result the business is now generating on an annualised basis, EBITDA contribution of more than CAD$3m.

It is worth noting these successful client conversions have occurred during a time of significant changes in the Canadian market environment. New Electronic Communications Networks, trading destinations and exponential growth in message volumes have challenged the infrastructure of clients, vendors and other market participants.

After such a heavy implementation schedule, the focus in Canada to the middle of this year will be primarily on stabilisation and consolidation of the expanded client base, but we do expect organic growth to continue in the second half.

The other plank of our growth strategy has been the growth of our Wealth Management division. 2007 has been a transforming year for the Wealth Management business. The acquisitions of VisiPlan in April, Spotlight in July, the full year effect of Plantech and rapidly growing Xplan business have resulted in a tripling of revenue from 2006. Wealth management is providing a significant contribution to the Group results and IRESS is now the leading provider of software to wealth management advisers in Australia and New Zealand.

This growth provides us with distribution scale and opportunities to invest further in functionality, content and connectivity. Our independence and offerings such as Xplan’s web solution, Plantech’s risk researcher and the Visi desktop provide our clients with a unique set of product options.

In South Africa, the merged Plantech and Spotlight operations continue to provide client support and development locally. Development expertise and product offerings will be leveraged from Australia to South Africa, and a South African version of Xplan is planned for release mid-year.

2008 for Wealth Management will be primarily a year of consolidating the acquisitions. Our focus will be on a common service structure for all clients, conversions to a web-based Xplan and aligning architecture across products for consistency and developmental efficiency. A number of initiatives such as CommPay, AppCentral and others will be rolled out across the client base and we are confident of achieving organic growth from existing clients and competing successfully for new business.

As I said we are very pleased with the progress made to date and we believe we are substantially on target in meeting our goals and strategies for the development of the Group. I would like to express on behalf of the Board our gratitude and thanks to Mr Peter Dunai and all of his management team for their efforts over the past year.

It is also extremely important to recognise the fabulous team of people who work in the business, domestically and abroad, and the commitment and dedication they bring to the Company and also their attitude which ultimately dictates the culture that is IRESS. This statement is doubly true over the past year in the light of our recent acquisitions which saw approximately 80 new employees join the group. As a consequence more than half our employees had to deal with the resulting operational and organisational changes as well as continuing to focus on customer service.

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Finally, before moving onto to the other items of business, I confirm that Mr Angus Richards has decided not to seek re-election at the meeting and retires as a director. Angus has been a much valued member of the Board since his appointment in December 2001, and during this time he has served as both a member of the Board and the Audit Committee. On behalf of the Board, Management and shareholders I thank Angus for his contribution to the Company and wish him all the very best in his retirement.

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