1 ICON Plc. Merrill Lynch - Global Pharmaceutical, Biotech & Medtech Conference, September 19 th 2007

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

Revenues $456 million Operating Profits $48m EPS $1.33 Staff 4, Revenues $0.5 million Operating Profits $0m Staff 5 The Journey So Far 2007 Guidance Revenues $560-$580 m Operating Profit $60 - $65 m EPS $ $1.80 Staff 4,800 – 5,000

4 Global Full Service Clinical Development US 53% EU 40% ROW 7% Revenue by Region

5 Market Environment

6 Strong Market Environment with... Fundamental R&D Spending Growth Trend 6%- 8% p.a. ¯ Phase II / III pipelines strengthening Increased Outsourcing ¯ Being accelerated by activity & funding in Biotech / Speciality ¯ Globalisation of clinical research ¯ Cost containment pressures ¯ Evidence that projects, where CROs are engaged, complete faster than “internal only” studies* ¯ Growth c.15% p.a. since 2001* Increasing Regulation ¯ More patients/ more studies ¯ Post marketing surveillance *Source: Tufts Centre for Study of Drug Development

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

8 Source: Informa Health …significant growth in the number of companies with active clinical projects,…. Number of companies running clinical projects

9 Source: FDA Number of Active INDs … and significant growth in the number of active INDs,… 49% Increase since 2000

10 …which is enriching pipelines. Source: IMS R&D Focus, Dec 2006 and previous year SMRs 2002 – % Growth Phase I – II

11 Not a “ Pig in a Python”, rather a …….

12 …bursting dam….

13 …bursting dam….

14 …bursting dam.

15 ICON in this Market Environment

16 Strong Gross Business wins has led to… ICON Gross Business Wins - Last 9 Quarters ($ millions)

17.. excellent Net New Business wins and very strong book to bill ratios… Net Business Wins Book to Bill Ratio

18 …leading to record Total Backlog levels. ($ millions)

19 From this backlog, coverage of next 4 quarters revenues is robust…….. Value of backlog forecast to be earned in next 4 quarters % coverage of next 4 quarters forecast revenues

20 …..and the customer base continues to diversify. Client Concentration 2005, 2006, YTD 2007

21 YTD ‘07 Revenue Breakdown Revenue by Customer Segment Revenue by Therapeutic Area

22 Revenue Growth v Peers: Net Revenue CAGR between 2000 and 2006 * Source SEC Filings

23 Strategy

24 Core Strategy is Organic Growth, with acquisitions adding new services or scale. Capitalise on market fundamentals to drive organic growth in all business units. Expand geographic footprint to exploit globalisation. Pursue acquisitions to enhance depth and scale of current operations and to add additional complementary services e.g. Phase I Bioanalytical / Biomarkers Therapeutic specialists Safety / Phase IV Patient Recruitment Staffing Cross-sell services to grow sales and margin

25 Financial Performance

26 Recent Financial Performance ($ millions, except EPS; includes stock option expense) Q2 ’07Q2 ’06% Increase Net Revenue % Direct Costs % SG & A % D & A % _____ Operating Income % Net Income % _____ EPS (Inc SFAS123R)45c32c41% Weighted Average no. of Shares (Inc SFAS123R) 29.7m28.7m3.4% Backlog1, %

27 Recent Financial Performance ($ millions) H H1 2006% Increase Net Revenue % Direct Costs % SG & A % D & A % _____ Operating Income % Net Income % _____ EPS (Inc SFAS 123R)86c59c46% Weighted Average no. of Shares (Inc SFAS123R) 29.6m28.5m3.9% Backlog1, %

28 Net Revenue CAGR of 30% over 7 Years CAGR 30% (E) * Mid Point of Guidance

29 Earnings Per Share Growth CAGR 25% (E) * Mid Point of Guidance

30 Summary Balance Sheet and Cash Flow ($ millions) May 31, 05 (Year) Dec 31, 05 (7 mths) Dec 31, 06 (Year) June 30, 07 (YTD) Net Cash$78.4$82.3$98$91.1 Total assets$347.6$349.1$476.3$521.9 Shareholder’s equity$233.1$241.6$302.7$337.5 Cashflow from operations $23.8$11.7$51.5$19.4 Capital expenditures$15.6$7.8$12.3$30.4 Shares outstanding

31 Improving Margins

32 Quarterly Operating margins have been improving and …. * Includes an estimated SFAS 123 non cash stock compensation charge for the 2005 figures Turnaround in Lab

33 Further volume growth in Lab Significantly improved performance from Phase I and Consultancy businesses Bringing Japan from investment phase to profitability Expanding margins in Phase II – IV through leverage ….further margin improvement should arise through 2008

34 Top Global Clinical CRO - #4 Outstanding record of growth Strong market fundamentals Excellent strategic position Strong balance sheet Margin expansion opportunity Investment Case Summary