14 COMPOSITE INSULATED WALLBOARD AND SYSTEM A composite insulated gypsum wallboard and method of assembly for securement from opposed top and bottom end edges and spaced from a wall to be insulated thereby, such as a concrete basement wall of a building structure. The wallboard comprises a rectangular gypsum board having a rectangular sheet of insulating material bonded to a rear face of the gypsum board. A securement connector strip is provided for securing a top and a bottom edge portion of the wallboard to maintain same spaced in front of the concrete wall to be insulated with the insulated material facing the concrete wall. A vertical edge interconnecting strip is provided to interconnect adjacent wallboards together.