Director Shareholding

Impax Group PLC
19 June 2001

Impax Group plc

(formerly Kern River plc)



Directors' shareholdings



The Acquisition and the Placing and Open Offer described in the prospectus
dated 21 May 2001 has been completed with the admission to trading on AIM
today of the 12,485,764 new Ordinary Shares. As described in the prospectus
Melville Haggard, Ian Simm and Geirr Frostmann joined the board of the Company
on completion of the Acquisition.



Directors of the Company have acquired ordinary shares in the Company at a
price of 32p per share pursuant to the Acquisition and the Placing and Open
Offer as follows:


                Number of Ordinary    Number of Ordinary     Number of Ordinary
            Shares taken up in the    Shares acquired in Shares acquired in the
                        Open Offer           the Placing            Acquisition


S W Bickerstaff            416,692               425,255                      -


G Butterfield                    -                25,000                      -



M E V Haggard                    -                70,313                      -



I R Simm                         -               132,813                 41,163


N A Brown                   10,174                46,875                      -


C R Weaver                  20,174                31,250                      -





The interests of each of the Directors in the ordinary shares of the Company
are as follows:


                                 Total Number of Ordinary Shares held         %


S W Bickerstaff                                             2,533,716     7.14%


G Butterfield                                                  25,000     0.07%


A J Carroll                                                   513,621     1.45%


M E V Haggard                                                  70,313     0.20%


I R Simm                                                      173,976     0.49%


N A Brown                                                      97,745     0.28%


G R Frostmann                                                       -         -


C R Weaver                                                    132,120     0.37%









19 June 2001



For further information please contact:



Impax Group plc



Stuart Bickerstaff, Non-executive chairman

(via Marshall Securities Limited)           020 7490 3788

Marshall Securities Limited

Robert Luetchford/John Webb                 020 7490 3788