1 ICON plc 27 th September 2006

2 Certain statements contained herein including, without limitation, statements containing the words “believes,” “anticipates,” “intends,” “expects” and words of similar import, constitute forward-looking statements concerning the Company's operations, performance, financial condition and prospects. Because such statements involve known and unknown risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward Looking Statements

3 Investment Highlights Top global CRO Strong market fundamentals Outstanding record of organic growth Strong balance sheet Growth accelerating Margins expanding

4 Company Overview Approx. $430 million in annualized net revenues 6 Year Net Revenue CAGR = 30% 4 th Largest CRO in Phase II – IV Global coverage - 45 locations in 30 countries Unique operating model with focus on quality and flexibility > 3,700 staff worldwide Note Change of Year End to 31 December

5 Global Reach: EU – 16 Offices Riga Amsterdam Frankfurt Marlow Stockholm Dublin Manchester Eastleigh Paris Tel Aviv Moscow Barcelona Budapest Milan Warsaw Vilnius

6 Global Reach – USA – 15 Offices Chicago Houston Nashville Tampa San Francisco Irvine Baltimore Raleigh-Durham New York City Long Island Philadelphia Delaware Doylestown San Diego Salt Lake City

7 Offices: ROW – 15 Offices Sydney Buenos Aires Johannesburg Taiwan Seoul Bangkok Singapore Chennai Tokyo Hong Kong Montreal Sao Paulo Santiago Mexico City Beijing

8 Global Full Service Clinical Development Pre-clinicalPhase IPhase IIPhase IIILaunchPhase IV 5% Drug Development and Regulatory Support 4% Phase I 13% Data Management & Statistical Consulting 2% Contract Staffing 3% Central Imaging Lab 5% Interactive Technologies 10% Central Laboratory 58% Trial Management, Monitoring & Pharmacovigilence

9 Market Environment

10 Strong Market Environment with... Fundamental R&D Spending Growth Trend ~ 6%- 8% p.a.  Phase II / III pipelines strengthening Increased Outsourcing  Growth c.15% p.a. since 2001*  Being accelerated by activity & funding in Biotech / Speciality  Evidence emerging that projects where CROs are engaged complete faster than “internal only” studies* Regulatory Environment Globalisation favouring large CROs *Source: Tufts Centre for Study of Drug Development

11 …US Biotech Funding Environment continuing to grow, leading to... Source: Burrill and Company $Billion Biotech fund raising ($billions)

12 …strong RFP growth at ICON RFP Volume / Value Trends – Global Clinical H Growth2005 Growth

13 ICON Gross Business Wins - Last 8 Quarters ($ millions)

14 ICON’s Net New Business Wins growing strongly… Net Business Wins Book to Bill Ratio

15 …leading to record total backlog levels ($ millions)

16 …and strong forecast coverage of next 4 quarters revenues. Value of backlog forecast to be earned in next 4 quarters % coverage of next 4 quarters forecast revenues

17 Improving Client Concentration

18 Strategy

19 ICON’s Broad Strategy Capitalise on market fundamentals to drive organic growth. Expand geographic footprint Pursue acquisitions to enhance depth and scale of current operations and to add additional complementary services Cross-sell services to grow sales and margin

20 Cross-sell to leverage client relationships and capture more of the project spend. Strategic Product Development / Consulting 5% Strategic Product Development / Consulting 5% Clinical Trial Management Phase II – IV 58% Clinical Trial Management Phase II – IV 58% Phase I 4% Phase I 4% Central Laboratory 10% Central Laboratory 10% IVRS 5% IVRS 5% Contract Staff 2% Contract Staff 2% Central Imaging Lab 3% Central Imaging Lab 3% Data Management & Biostatistics 13% Data Management & Biostatistics 13%

21 Examples of some detailed strategic initiatives Creating Therapeutic Specialist Groups (TAGs) in key therapeutic areas to leverage our experience and build further scale e.g. Oncology Investing in Operations in Japan – significant opportunity for growth over next 10 years Creation of Data Management Operation in India – circa 100 people and growing Partnership with Medidata Solutions in EDC – gaining traction Developing specialised Phase IV Division and acquisition of Ovation

22 Financial Performance

23 Recent Financial Performance ($ millions, except EPS) Q2 ’06Q2 ’PY% Increase Net Revenue Direct Costs SG & A D & A _____ Operating Income Net Income _____ EPS (ex FAS123R)71c42c69.0 Weighted Average no. of Shares

24 Recent Financial Performance ($ millions, except EPS) H1 ’06H1 ’PY*% Increase Net Revenue Direct Costs SG & A D & A _____ Operating Income Net Income _____ EPS (ex FAS123R)130c78c66.6 Weighted Average no. of Shares * Excluding One-time charge of $11.5m

25 Net Revenue CAGR of 30% over last 6 Years, and strong growth forecast for 2006 CAGR 30% * * Mid point calendar year guidance issued July 26, 2006

26 Revenue Growth v Peers: Net Revenue CAGR between 2000 and 2005 * Source SEC Filings

forecast growth is underpinned by strong forecast coverage of next 12 months revenues. (US$, & % of Forecasts)

28 Earnings Per Share Growth (E) * * Mid point guidance issued July 26, 2006 before FAS123R Stock Compensation

29 Summary Balance Sheet and Cash Flow ($ millions) May 31, 05 (Year) Dec 31, 05 (7 mths) Jun 30, 06 (H1) Net Cash$78.4$82.3$101.0 Total assets$347.6$349.1$392.6 Total debt$0.0$4.8$0.0 Shareholder’s equity$233.1$241.6$269.3 Cashflow from operations$23.8$11.7$30.4 Capital expenditures$15.6$7.8$10.8 Fully diluted shares outstanding

30 Improving Margins

31 Quarterly Operating margins have been improving….

32 … driven by expanding Clinical margins as revenue growth has accelerated, and…….

33 …..Lab returning to profit in Q2…. Lab Results

34 …As Lab revenues grew strongly (at last!) …. $ millions

35 …driven by strong Lab net new business wins Net Business Wins Book to Bill Ratio

36 Investment Highlights Top global CRO Strong market fundamentals Outstanding record of organic growth Strong balance sheet Growth accelerating Margins expanding