Director Shareholding/Additional Listing

26 March 2007 ITM Power Plc ("ITM" or "the Company") Director Shareholding Exercise of Options ITM Power Plc announces that Mr Stephen Massey, Non Executive Chairman, exercised options on 23rd March 2007 over 700,000 ordinary shares in ITM Power Plc at an exercise price of 25p per ordinary share. Mr Massey sold 400,000 shares at a price of 116.1p per share to cover costs relating to the transaction. Following the exercise of the option and the sale of the shares, Mr Massey holds 400,000 ordinary shares representing 0.4% of the total issued share capital of the Company. Application has been made for the admission of 700,000 ordinary shares to trading on AIM. The shares will rank pari passu with existing ordinary shares and it is expected that admission will occur on 28th March 2007. Following admission of the new shares, the total issued share capital of the Company will be 101,958,735 ordinary shares. Ends For further information please contact: Marcus Scott ITM Power Plc Tel: 01799 532860 Gemma Chandler ITM Power Plc Tel: 01799 532 860 Mobile: 07921 057712