Disposal

Impax Group PLC 23 July 2004 Impax Group plc Sale of Oil Interests Impax Group plc ('Impax' or the 'Group') is pleased to announce the sale of its subsidiary company, Kern River Holdings ('KRH'), which is the owner and operator of the Nukern oilfield in California ('Nukern'). This completes the Group's withdrawal from oil operations. As anticipated in the Chairman's Interim Statement published on 18 May 2004, All American Oil and Gas, Incorporated ('AAOG') has completed the exercise of its option to buy Nukern through the acquisition of KRH. Under the terms of the transaction, Impax has today received US$150,000 (£82,000) and will receive an additional US$200,000 (£109,000) by 31 August 2004. Impax has also received a US$5.45m (£2.96m) secured production note based on payments of US$4 per barrel, with minimum quarterly payments rising from US$60,000 (£33,000) in 2005 to $120,000 (£65,000) in 2009 onwards. Any remaining balance on the note is repayable in full on 31 July 2011. The total consideration under these arrangements, discounted to present value, corresponds broadly to the book value of the oilfield. Keith Falconer, Chairman, commented: 'This is an important milestone for the Group and marks the end of our involvement in oilfield operations. This will allow us to concentrate all our efforts on the core business of providing financial advisory and asset management services to our clients in the environmental sector.' 23 July 2004 For further information please contact: Impax Group plc 020 7434 1122 Nigel Taunt Ian Simm This information is provided by RNS The company news service from the London Stock Exchange