Disposal

Impax Group PLC
31 March 2003


Impax Group plc is pleased to announce it has entered into an agreement for the
sale of its interest in the Starks oil and gas field in Louisiana to Temsik
Investments Ltd. The net proceeds of sale, after costs and including the
repayment of inter-company balances, are estimated to amount to US$1,334,000
(£851,000) of which a non-refundable deposit of US$ 100,000 (£64,000) has been
received today.

The buyer has until 30 May 2003 to complete the transaction, which is subject
only to additional confirmation of the title to the field. The Directors expect
the transaction to complete within the required period with a further payment of
US$900,000 (£574,000) at that time. The balance of the sales proceeds is due by
30 June 2003.

In addition, the Group will receive a gas production note for a total amount of
US$ 300,000, payable at the rate of 10% of future gas sales net of related
taxes, with payments commencing six months after completion.

This important step marks the Group's exit from operational oil field
activities. The net proceeds of the sale will be used to repay indebtedness. The
Group retains the non-operational Nukern oil field in California and is
exploring its disposal.

Impax Group plc will announce its results and publish its accounts for the year
ended 30 September 2002 later today.



For further information please contact:

Nigel Taunt, Group Finance Director                              020 7434 1122
Impax Group plc

John Webb                                                        020 7490 3788
Marshall Securities Limited


31 March 2003


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