Exhibit 14.0  INFORMATION SERVICES GROUP, INC.  CODE OF ETHICS FOR DIRECTORS, OFFICERS AND
EMPLOYEES  This Code of Ethics (the Code) has
been adopted by the Board of Directors of Information Services Group, Inc.
(the Board), to set forth the high standards of ethical business
conduct expected of all officers, directors, and employees of Information
Services Group, Inc. and its affiliates (collectively, the Company).
The Code does not specify appropriate conduct for every person in every
situation but is intended to assist in the identification of common and/or
sensitive business situations where public trust and confidence might be
compromised or a statutory or regulatory requirement violated and to set forth
guidelines governing such situations.  The Code is not a contract and does not
create or describe any obligations of the Company. This Code supplements but
does not supplant those specific policies and procedures that may be adopted
throughout the Company.  It is the responsibility of each executive
officer, director and employee to become familiar with the provisions of this
Code. All executive officers, directors, and employees of the Company are
expected and required to act in full compliance with the Code at all times.
Strict adherence to this Code is a condition of continued employment or
affiliation with the Company.  1.Purpose of Code.This Code applies to officers, directors and
employees of the Company for the purpose of promoting:  ·honest and ethical conduct,
including the ethical handling of actual or apparent conflicts of interest
between personal and professional relationships;  ·full, fair, accurate, timely
and understandable disclosure in reports and documents that a registrant files
with, or submits to, the SEC and in other public communications made by the
Company;  ·compliance with applicable
laws and governmental rules and regulations;  ·the prompt internal
reporting of violations of the Code to an appropriate person or persons
identified in the Code; and  ·accountability for adherence to the Code.  Each director, officer and employee should
adhere to a high standard of business ethics and should be sensitive to
situations that may give rise to actual as well as apparent conflicts of
interest.


2.Conflicts of Interest.All directors, officers and employees of the Company
should be scrupulous in avoiding any action or interest that conflicts with, or
gives the appearance of a conflict with, the Companys interests. A Conflict
of Interest occurs when an director, officer or employees private interest
interferes with the interests of, or his/her service to, the Company. A
conflict situation can arise when a director, officer or employee takes actions
or has interests that may make it difficult to perform his or her work for the
Company objectively and effectively. Conflicts of interest may also arise when
a director, officer or employee or a member of his or her family receives
improper personal benefits as a result of his or her position with the Company,
whether from a third party or from the Company.  Conflicts of interest may not always be clear-cut, so if a question
arises, an officer or employee should consult with higher levels of management,
the board of directors or General Counsel. Any employee, officer or director
who becomes aware of a conflict or potential conflict should bring it to the
attention of a supervisor, manager or other appropriate personnel.  3.Corporate Opportunity.Directors, officers and employees are prohibited from
(a) taking for themselves personally opportunities that properly belong to
the Company or are discovered through the use of corporate property,
information or position; (b) using corporate property, information or
position for personal gain; and (c) subject to pre-existing fiduciary
obligations, competing with the Company. Directors, officers and employees owe
a duty to the Company to advance its legitimate interests when the opportunity
to do so arises.  4.Compliance with Laws, Rules and
Regulations.All
directors, officers and employees of the Company are expected to understand,
respect and comply with all of the laws, regulations, policies and procedures
that apply to them in their positions with the Company. Employees are
responsible for talking to their supervisors to determine which laws,
regulations and Company policies apply to their position and what training is
necessary to understand and comply with them. Directors, officers and employees
are directed to specific policies and procedures available to persons they
supervise.  As a representative of the Company, you are expected to conduct both
your business and personal affairs in accordance with the highest standards of
honesty, ethics and integrity. If you have any legal or ethical questions about
business you conduct for the Company, please consult the General Counsel.  5.Political Contributions.No political contributions of Company funds are to be
made, directly or indirectly, to any government official, political party,
political party official, election committee or candidate for political office
in the United States or in another country. Company associates may, of course,
contribute personally to the candidates and parties of their choice, but no
associate will be compensated or reimbursed for any such personal contribution.  2


6.Payments to Government
Officials or Others.No
bribes, kickbacks or other payments shall be made to or for the benefit of any
government officials, customers, suppliers or others in connection with
obtaining orders or favorable treatment or for any illegal purpose. This policy
extends not only to direct payments but also to indirect payments made in any
form through consultants or other third parties.  7.Giving or Receiving Gifts.No associate of the Company may give, seek or accept
in connection with the Companys business any type of compensation, fees,
commissions, gifts, entertainment or any other personal favor or preferment
which exceeds a nominal value and goes beyond common courtesies associated with
accepted business practice. This policy applies to consideration to, or from
any person, including, for example, other associates, prospective associates,
suppliers, customers, competitors and others with whom the Company has or is
likely to have any business relationships.  8.Fair Dealing.We seek to outperform our competition fairly and
honestly. We seek competitive advantages through superior performance, never
through unethical or illegal business practices. Stealing proprietary
information, possessing or utilizing trade secret information that was obtained
without the owners consent or inducing such disclosures by past or present
employees of other companies is prohibited. Each director, officer and employee
is expected to deal fairly with the Companys customers, suppliers,
competitors, officers and employees. No one should take unfair advantage of
anyone through manipulation, concealment, abuse of privileged information,
misrepresentation of material facts or any other unfair dealing.  9.Protection and Proper Use
of the Company Assets.All
directors, officers and employees should protect the Companys assets and
ensure their efficient use. All Company assets should be used only for
legitimate business purposes.  10.Public Reporting.As a public company, it is of critical importance
that the Companys filings with the Securities and Exchange Commission be
accurate and timely. It is our policy to make full, fair, accurate, timely and
understandable public disclosure of all information relating to the Company as
required by law and the SEC, or other rules and regulations, and/or
business policy. In addition, it is our policy to comply with all securities
and other laws that prohibit us from making selective disclosures, including
SEC Regulation Fair Disclosure (Regulation FD). In order to ensure
that all disclosures of company information, including but not limited to
information relating to our financial performance, material contracts, and
other information important to investors, regulators and the general public,
are accurate and in full compliance with applicable laws and regulations, it is
our policy that all such disclosures will be made only through specifically
established channels. Depending on their position with the Company, an
employee, officer or director may be called upon to provide necessary
information to assure that the Companys public reports are complete, fair and
understandable. The Company expects employees, officers and directors to take  3


this
responsibility very seriously and to provide prompt accurate answers to
inquiries related to the Companys public disclosure requirements.  11.Financial Statements and
Other Records.All of
the Companys books, records, accounts and financial statements must be
maintained in reasonable detail, must appropriately reflect the Companys
transactions and must both conform to applicable legal requirements and to the
Companys system of internal controls. Unrecorded or off the books funds or
assets should not be maintained unless permitted by applicable law or
regulation. Records should always be retained or destroyed according to the
Companys record retention policies. In accordance with those policies, in the
event of litigation or governmental investigation, please consult the General
Counsel before destroying any records.  12.Confidentiality.Directors, officers and employees must maintain the
confidentiality of confidential information entrusted to them by the Company or
its suppliers or customers, except when disclosure is specifically authorized
by the board of directors or required by laws, regulations or legal
proceedings. Confidential information includes all non-public information that
might be material to investors or of use to competitors of the Company or
harmful to the Company or its customers or employees if disclosed.  13.Insider Trading.Directors, officers or employees who have access to
confidential information are not permitted to use or share that information for
stock trading purposes or for any other purpose except the conduct of our
business, and must refrain from trading while in possession of such
information. All non-public information about the Company should be considered
confidential information. To use non-public information for personal financial
benefit or to tip others who might make an investment decision on the basis of
this information is not only unethical but also illegal. In order to assist
with compliance with laws against insider trading, the Company will adopt a
specific policy governing directors, officers and employees trading in
securities of the Company and distribute such policy accordingly. If you have
any questions, please consult the Companys General Counsel.  14.Equal Opportunity;
Discrimination and Harassment.We are
firmly committed, in compliance with applicable federal, state and local laws
and the Companys policies, to providing equal opportunity in all aspects of
employment and we will not tolerate any illegal discrimination or harassment of
any kind.  15.Waivers.A director, officer or employee may request a waiver
of any of the provisions of this Code by submitting a written request for such
waiver to the Board setting forth the basis for such request and explaining how
the waiver would be consistent with the standards of conduct described herein.
The Board shall review such request and make a determination thereon in writing
which shall be binding. In determining whether to waive any provisions of this
Code, the Board shall consider whether the proposed waiver is consistent with
honest and ethical conduct. Any waivers of any provision of this Code granted
to a director,  4


officer or
employee must be disclosed in an SEC Form 8-K within four days. The
General Counsel shall submit an annual report to the Board regarding waivers
granted.  16.Reporting Illegal or
Unethical Behavior.Employees, officers and directors who suspect or know of violations of this
Code or illegal or unethical business or workplace conduct by employees,
officers or directors have an obligation to contact their supervisor. If the
individuals to whom such information is conveyed are not responsive, or if
there is reason to believe that reporting to such individuals is inappropriate
in particular cases, then the employee, officer or director may contact the
General Counsel. Such communications will be kept confidential to the extent
feasible. If the employee is still not satisfied with the response, the
employee may contact the chairman of the board of directors or any of the
Companys outside directors.  17.Non-Retaliation.The Company prohibits retaliation of any kind against
individuals who have made good faith reports or complaints of violations of
this Code or other known or suspected illegal or unethical conduct.  18.Disciplinary Measures.Violations of this Code or other policies, or of
applicable laws, rules and regulations, may result in disciplinary
measures against the violator. Such measures, depending on the nature and
severity of the violation, whether the violation was a single or repeated
occurrence, and whether the violation appears to have been intentional or
inadvertent, may include written notices to the individual involved, censure by
the Board, demotion or re-assignment, suspension with or without pay or
benefits and termination of employment. In addition, violations of legal and
regulatory requirements may carry their own civil and criminal penalties,
including fines and imprisonment.  19.Other Policies and
Procedures.This
Code shall be the sole code of ethics adopted by the Company for purposes of Rule 4350(n) of
the Rules of Nasdaq and Section 406 of the Sarbanes-Oxley Act and the
rules and forms applicable to it thereunder. Insofar as other policies or
procedures of the Company govern or purport to govern the behavior or
activities of the Directors, officers and employees who are subject to this
Code, they are superseded by this Code to the extent that they overlap or conflict
with the provisions of this Code.  20.Amendments.Any amendments to this Code must be approved or
ratified by a majority vote of the Companys Board, including a majority of
independent directors.  21.Internal Use.The Code is intended solely for the use by the
Company and does not constitute an admission, by or on behalf of any person, as
to any fact, circumstance, or legal conclusion.   Approved by the Board of Directors:  January 14, 2008  5