IASG Receives Notice of Additional Filing Delinquency

Albany, N.Y. - May 23, 2005 - Integrated Alarm Services Group, Inc. (NASDAQ: IASGE) announced today that on May 18, 2005 it received a NASDAQ Staff Determination indicating that IASG failed to timely file its Form 10-Q for the quarterly period ended March 31, 2005. NASDAQ Marketplace Rule 4815(b) requires the Company to disclose receipt of a NASDAQ Staff Determination within seven calendar days.

On May 9 2005, IASG announced that it had received notice from the NASDAQ Listing Qualifications Panel that the Panel had granted IASG’s request for an exception through June 27, 2005 to file both the Form 10-K for the period ended December 31, 2004 and the Form 10-Q for the period ended March 31, 2005 with the SEC and NASDAQ. The Staff Determination acknowledged the Listing Qualifications Panel’s decision dated May 9, 2005, which granted IASG’s request for an extension to file the Forms 10-K and 10-Q through June 27, 2005. No further action is required as a result of Staff’s Determination and the Listing Qualifications Panel decision dated May 9, 2005 will remain in effect.

About IASG

Integrated Alarm Services Group provides total integrated solutions to independent security alarm dealers located throughout the United States to assist them in serving the residential and commercial security alarm market. IASG's services include alarm contract financing including the purchase of dealer alarm contracts for its own portfolio and providing loans to dealers collateralized by alarm contracts. IASG, with 5,000 independent dealer relationships, is also the largest wholesale provider of alarm contract monitoring and servicing. For more information about IASG please visit our web site at http://www.iasg.us.

This press release may contain statements, which are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of IASG's future results of operations, financial position or state other forward-looking information. In some cases you can identify these statements by forward looking words such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "should", "will", and "would" or similar words. You should not rely on forward-looking statements because IASG's actual results may differ materially from those indicated by these forward looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations effecting our business, and other risks and uncertainties discussed under the heading "Risks Related to our Business" in IASG's Form 10-K report for the period ending December 31, 2003 as filed with the Securities and Exchange Commission on March 30, 2004, and other reports IASG files from time to time with the Securities and Exchange Commission. IASG does not intend to and undertakes no duty to update the information contained in this press release.

CONTACT:

Integrated Alarm Services Group, Inc.

Investor Relations:

Joseph L. Reinhart

518-426-1515