Conversion of Securities

Impax Group PLC
03 August 2004


Impax Group plc

During July 2004 the Company received conversion notices from holders of £28,703
nominal of the 5.5 per cent. Convertible Unsecured Loan Stock 2009 ('Stock').
Accordingly it has allotted 631,466 Ordinary Shares of 1p, subject to admission
of the shares to trading on the Alternative Investment Market of the London
Stock Exchange ('AIM').

Application will be made to the London Stock Exchange for admission of the
631,466 Ordinary Shares to AIM. It is expected that admission will become
effective and trading will commence on 10 August 2004. Following conversion and
allotment the Company will have £2,443,263 nominal of Stock outstanding and
37,497,312 Ordinary Shares in issue.

3 August 2004


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