We detect seven distinct absorbing systems in the high-resolution X-ray spectrum of the Seyfert 1 galaxy IC 4329A , taken with XMM- Newton . Firstly we detect absorption due to cold gas in our own Galaxy and warm gas in the Galactic halo or the Local Group . This local warm gas is only detected through O vii absorption , from which we deduce a temperature between 0.03 and 0.2 keV . In IC 4329A we detect absorption from the host galaxy as well as from a warm absorber , close to the nucleus , which has 4 components . The absorption from the host galaxy is well modeled by neutral material . The warm absorber detected in IC 4329A is photoionized and has an ionization range between log \xi = - 1.37 and log \xi = 2.7 . A broad excess is measured at the O viii Ly \alpha and N vii Ly \alpha emission lines , which can be modeled by either disklines or multiple Gaussians . From the lightcurve we find that the source changed luminosity by about 20 % over the 140 ks observation , while the spectral shape , i.e . the softness ratio did not vary . In the EPIC spectra a narrow Fe K \alpha and Fe xxvi Ly \alpha emission line are detected . The narrowness of the Fe K \alpha line and the fact that there is no evidence for flux variability between different observations leads us to conclude that the Fe K \alpha line is formed at a large distance from the central black hole .