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ICON Plc. 2008 Raymond James Institutional Investors Conference – March 4 th , 2008

ICON Plc. 2008 Raymond James Institutional Investors Conference – March 4 th , 2008 Mr. Peter Gray - CEO. Forward Looking Statements.

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ICON Plc. 2008 Raymond James Institutional Investors Conference – March 4 th , 2008

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  1. ICON Plc.2008 Raymond James Institutional Investors Conference – March 4th, 2008 Mr. Peter Gray - CEO

  2. Forward Looking Statements 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.

  3. Global Full Service Clinical Development Global Clinical EU 38% Q4 Revenue by Region ROW 9% US 53%

  4. ICON’s Global Clinical Footprint ICON’s Global Clinical Footprint North America 2 Countries 17 Offices >1,900 Staff Eastern Europe / Russia 8 Countries 9 Offices > 350 Staff Japan 1 Country 2 Offices >80 Staff Western Europe / Africa 10 Countries 13 Offices >1,600 Staff Asia Pacific 8 Countries 10 Offices >450 Staff Latin America 5 Countries 5 Offices >170 Staff Projects in 60+ Countries

  5. Market Environment

  6. Strong Market Environment with... • Continued R&D Spending Growth. • Phase II / III pipelines strengthening • Increased Outsourcing • Being accelerated by activity & funding in Biotech / Speciality • Globalisation of clinical research • New strategic thinking / cost containment • Increasing Regulation • More patients/ more studies • Post marketing surveillance 5

  7. Preclinical Compounds in Development The Pipeline continued to fill in 2007 Up ≈ 23% Source: Pharmaprojects

  8. Phase I Compounds in Development The Pipeline continued to fill in 2007 Up ≈ 22% Source: Pharmaprojects

  9. Phase II/III Compounds in Development The Pipeline continued to fill in 2007 Up ≈ 14% Source: Pharmaprojects

  10. US Biotech Funding Environment continued to grow Biotech fundraising (excluding debt financing) $Billion Source: Burrill and Company

  11. ICON in this Market Environment

  12. Gross RFP Value by Market Segment (Including RFPs that never progress to award) RFP Value by Market Segment 2007 Value • 54% Increase / PY Size of Projects • 41 > 20 Million • 168 > 5 Million • 959 < 5 Million 12

  13. Strong RFP volume growth, with increasing average proposal value…

  14. …which has led to increasing numbers of awards greater then $5 million.

  15. Overall, Strong Gross Business wins has led to… ICON Gross Business Wins - Last 10 Quarters ($ millions)

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

  17. …leading to record Total Backlog levels. ($ millions) Up 49% YoY Up 38% YoY

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

  19. This has led to a diversified customer base…… Client Diversity 2005, 2006, 2007 2007 - New Business by Customer Segment

  20. ….and broad therapeutic expertise. Revenue by Therapeutic Area 2007

  21. Quality

  22. From 2000 – 2006 ICON has been the fastest Growing CRO, and this has continued in 2007.. (ICON Growth 2007 = 32%) *Source SEC Filings

  23. …but Quality and Delivery remains our Key Focus.

  24. ISO9001:2000 Registered Since 1994. • External assessment of ICON’s Global Quality System • Group registration for the whole company • Annual random surveillance audits across regional offices to monitor compliance - audit frequency is based on office size and number of services • All new offices independently audited to attain registration • 2007 audit program • USA: PA, FL, NC, CA-Irvine, CA-Redwood City • Europe: IRL, GER, SWE, RUS, HUN, POL, ITL* • ROW: South Africa, CAN, MEX*, ARG (*new offices registration audits) • The following accreditations are maintained by ICON Laboratories • ISO 17025 • CAP accreditation • CLIA (New York facility only)

  25. We Live Quality Internally,…. ICON Internal QA Audits – 2007

  26. … Clients Check it,…. Client, Regulatory and ISO Audits – 2007

  27. …Regulatory Agencies Inspect it,….

  28. …and 3rd Parties Validate it

  29. Strategy

  30. ICON’s Core Strategy is Organic Growth,with acquisitions made to add new services or scale. Acquisitions to date - 11 • Revenues acquired $114m • Staff acquired – 1,100 • => Organic growth >80% • Capitalise on market fundamentals to drive organic growth in all business units. • Pursue acquisitions to enhance depth and scale of current operations and to add additional complementary services e.g. • Phase I - US • Bioanalytical / Biomarkers • Therapeutic specialists • Safety / Phase IV • Patient Recruitment • Staffing • Cross-sell services to grow sales and margin

  31. Key Strategic Trends • Strategic v Tactical Outsourcing • More large companies are seeking to use outsourcing strategically rather than tactically. • ICON fully engaged. • Globalisation • Growth in Eastern Europe, Latin America and Asia as a venue. • ICON growing rapidly in these regions • Greater Scientific Involvement • Customers seeking greater scientific input from CROs • ICON has added TAGS, IDS, Imaging, new Lab technologies etc. to respond. • EDC • Estimated that over 40% of clinical trials now use EDC • 49% of ICON’s Data Management activity in 2007 was EDC

  32. Financial Performance

  33. Net Revenue CAGR of over 30% since 200222% Forecast for 2008 CAGR 32% *Mid Point of 2008 Guidance issued December, 2007

  34. Earnings Per Share Growth CAGR 26% (E) *Mid Point of 2008 Guidance issued December 2007

  35. Recent Financial Performance ($ millions, except EPS; includes stock option expense)

  36. Recent Financial Performance ($ millions)

  37. Margin improvement is a key focus. • Approx. 25% of ICON’s business is generating single digit margins • Further margin growth in Lab • Improve performance from Phase I and Consultancy businesses • Bring Japan to higher profitability • Expand margins in Phase II – IV through leverage as growth moderates. • Currency Movements creating some “Headwinds” 5

  38. Summary Balance Sheet and Cash Flow ($ millions)

  39. Recent Phase I Acquisition In The US Completed February 11th, 2008 • 85 bed clinical research unit in San Antonio, TX • Experienced team with excellent market reputation • Clinical pharmacology platform in the US to complement the UK CPU • Requires business development and commercial management support • Cost = $12m (Potential for further $10m if certain challenging targets met for ’08) • Revenues in ‘07 ≈ $8m • Profitable in H2 2007 • Expected revenues of $10 - $12m in 2008 • Earnings neutral 2008 (Earnout payment will not be triggered with this outcome)

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

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