Sec Form 4 Filing - Gould Richard @ Information Services Group Inc. - 2008-12-17

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Gould Richard 2. Issuer Name and Ticker or Trading Symbol Information Services Group Inc. [ III] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) E.V.P. (Last) (First) (Middle) FOUR STAMFORD PLAZA, 107 ELM STREET 3. Date of Earliest Transaction (MM/DD/YY) 12/17/2008 (Street) STAMFORD, CT06902 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Shares of common stsock 12/17/2008 12/17/2008 J 7,410,937 D $ 0 ( 2 ) 0 I Shares held by Oenoke Partners, LLC ( 1 ) Shares of common stock 12/17/2008 12/17/2008 J 1,852,734 A $ 0 ( 2 ) 1,852,734 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Warrants $ 6 12/17/2008 J 6,500,000 01/31/2008 01/31/2011 Shares of common stock 6,500,000 $ 0 ( 2 ) 0 I Warrants held by Oenoke Partners, LLC ( 1 ) Warrants $ 6 12/17/2008 J 1,625,000 01/31/2008 01/31/2011 Shares of common stock 1,625,000 $ 0 ( 2 ) 1,625,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Gould Richard FOUR STAMFORD PLAZA 107 ELM STREET STAMFORD, CT06902 X E.V.P. Signatures Richard Gould 12/17/2008 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The Shareholder had beneficial ownership of 25% of the membership interests in Oenoke Partners, LLC and had beneficial ownership of the remaining 75% by virtue of approval rights with respect to a sale of substantially all the assets of Oenoke Partners, LLC. ( 2 )No consideration was paid for the in-kind, pro rata distribution.

Remarks: J - Pursuant to a Plan of Liquidation and Dissolution, adopted on 12/17/08, Oenoke Partners, LLC dissolved and distributed its shares of common stock and warrants pro rata to its four members who now hold the common stock and warrants directly.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.