Conversion of Securities

Impax Group PLC
03 March 2006


                                Impax Group plc

During February 2006 the Company received conversion notices from holders of
£96,158 nominal of the 5.5 per cent. Convertible Unsecured Loan Stock 2009
('Stock'). Accordingly it has allotted 2,115,476 Ordinary Shares of 1p, subject
to admission of the shares to trading on the Alternative Investment Market of
the London Stock Exchange ('AIM').

Application has been made to the London Stock Exchange for admission of the
2,115,476 Ordinary Shares to AIM. It is expected that admission will become
effective and trading will commence on 10 March 2006. Following conversion and
allotment the Company will have £2,346,748 nominal of Stock outstanding and
47,820,642 Ordinary Shares in issue.

3 March 2006




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