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In Re Industrial Enterprises of America, Inc. Securities Litigation

Trading Symbol: IEAM
CUSIP Number: 456132208

TERMS OF THE SETTLEMENT: The Settlement consists of $3,400,000 in cash and will include interest on the Settlement Fund prior to distribution.

CLASS DESCRIPTION: On behalf of all persons who purchased or otherwise acquired the common stock of Industrial Enterprises of America, Inc. during the period of December 04, 2006 to November 07, 2007, inclusive.

IMPORTANT DATES:

DATE TO SEEK EXCLUSION
FROM THE CLASS: MAY 4, 2011

DATE FOR SUBMISSION OF
PROOF OF CLAIM FORMS: APRIL 27, 2011

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