New fund launched

Impax Group PLC 09 December 2004 9 December 2004 Impax Group plc announces the launch of Impax Environmental Markets (Ireland), an open-ended investment fund with £16.3 million of initial capital Impax Asset Management Limited ('IAM'), a wholly owned subsidiary of Impax Group plc, announces that it has successfully concluded the initial offer of 16.3 million shares at the offer price of £1 each in Impax Environmental Markets (Ireland) ('the fund'), an open ended investment fund, with institutional and certain other selected investors. IAM will manage the fund. The fund has been formed to enable investors to benefit from the rapid and sustained growth anticipated by the directors in the markets for cleaner or more efficient delivery of basic services of energy, water and waste, collectively 'environmental markets'. The fund will invest predominately in quoted companies which provide, utilise, implement or advise upon technology-based systems, products or services in environmental markets, particularly those of alternative energy and energy efficiency, water treatment and pollution control and waste technology and resource management. IAM is also the manager of Impax Environmental Markets plc ('IEM'), an investment trust quoted on the London Stock Exchange, which invests in the same portfolio of shares as the fund. In the year to 30 November 2004, IEM's net asset value rose 12.2%, an out-performance over the MSCI World Index, which rose 1.9% over the same period. Commenting on the launch of the fund today, Ian Simm, Managing Director of Impax Asset Management said: 'Impax has established a solid reputation as a specialist investment manager in the environmental markets sector. Following the strong performance of the Impax investment trust, Impax Environmental Markets (Ireland) will provide investors with access to our portfolio of stocks through an open-ended investment vehicle. We are delighted by the level of support we have received for the fund, and are encouraged by the number of attractive investment opportunities.' Enquiries: Impax Group plc Tel: +44 (0) 20 7434 1122 Ian Simm Bruce Jenkyn-Jones This information is provided by RNS The company news service from the London Stock Exchange