No, it does not have IS, but it could still be useful.  Image stabilization is just one way to improve you freehand shots, but there are [lots of other ways][1]. It is really all just about having a [fast enough shutter speed][2] that movement is not noticeable.


  [1]: https://photo.stackexchange.com/questions/178/techniques-for-hand-held-image-stabilization
  [2]: https://photo.stackexchange.com/questions/1733/minimum-shutter-speed