Expansion of fund

Impax Group PLC
20 October 2005


                        Impax Group plc (the 'Company')
                       Expansion of existing listed fund

Impax Environmental Markets plc ('IEM'), the listed investment trust which is
managed by Impax Asset Management Limited (the Company's asset management
subsidiary), has today announced a placing and offer for subscription to raise
additional capital of up to £80 million before expenses. The placing and offer,
which is not being underwritten and will not proceed unless subscriptions are
received in aggregate for at least £25 million, is subject to approval by
shareholders of IEM.

Impax Asset Management Limited will continue to earn an annual management fee of
1 per cent. of IEM's net asset value.

20 October 2005



Enquiries:

Ian Simm, Director                                            Tel: [phone]
Impax Group plc


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