Re Contract

Impax Group PLC 25 March 2003 Impax Group plc is pleased to announce that its investment management subsidiary, Impax Asset Management Ltd. ('IAM') has been selected as manager of The Recycling Fund, a £5 million venture capital fund targeting the recycling sector in the UK. The Recycling Fund is sponsored by the Waste and Resources Action Programme (WRAP), a company established by the Government to promote sustainable waste management in the UK. IAM's appointment will commence when the Fund is launched and is subject to contract. Commenting Ian Simm, managing director of IAM said: 'We are delighted to be selected by WRAP to manage The Recycling Fund. This appointment enables us to build on our venture capital experience managing funds for the International Finance Corporation, and further extends our assets under management.' Enquiries: Ian Simm, 020 7434 1122 Impax Group plc This information is provided by RNS The company news service from the London Stock Exchange