First Closing/Re Directorate

Impax Group PLC
19 August 2005


Impax Group plc (IPX) announces first closing of €125 million fund and
appointment of chief executive

Impax Group plc ('Impax' or the 'Group'), the AIM quoted financial services
business dedicated to the environmental markets sector, announced today the
successful launch and first closing of Impax New Energy Investors LP ('the New
Energy Fund'), a private equity fund targeting investments in projects in the
renewable energy and related sectors, predominantly in Western Europe.

The New Energy Fund, which will be managed by Impax Asset Management Ltd., aims
to exploit the significant investment opportunities in Europe arising from the
legally binding European targets for renewable energy supply. The fund's
investment team will be led by Peter Rossbach, who has 18 years' experience
financing projects in this sector. The team has already identified many
attractive investment opportunities.

The New Energy Fund's first closing at €60 million has been supported by Dexia
Credit Local, the sponsoring investor and a leading provider of finance to the
energy and infrastructure sectors in Western Europe, together with several other
major financial institutions, including British Airways Pension Fund,
Co-operative Insurance Society, Universities Superannuation Scheme, and South
Yorkshire Pensions Authority. Impax, assisted by Dresdner Kleinwort Wasserstein,
the lead placement agent, will continue to market the fund to new investors with
the aim of reaching the target fund size of at least €125 million within twelve
months.

The new fund takes Impax's funds under management and advisory to over £150
million.

The Group also announces the following senior management changes. Ian Simm,
Managing Director of Impax Asset Management, has also been appointed Group Chief
Executive. Nigel Taunt assumes full responsibility for Impax Capital, the
Group's corporate finance business, while Melville Haggard has been seconded to
the Department of Environment, Food and Rural Affairs (DEFRA) to assist the UK
government in the implementation of its waste management policy. Melville will
remain on the Group Board and continue as a member of the New Energy Fund's
Investment Committee.

Keith Falconer, Chairman, said: 'The launch of the New Energy Fund is a major
step forward for the Group. Impax is now managing money for over fifty major
institutional investors in an exciting growth market. With scaleable products
such as the New Energy Fund and our open-ended fund, Impax Environmental Markets
(Ireland), we are well positioned for expansion. I am delighted that the board
has appointed Ian as Chief Executive, and look forward to working with him and
other members of the senior management team to grow the company.'

Ian Simm said: 'This is an exciting time for investors in the renewable energy
sector. I welcome the support of Dexia, our sponsoring investor, and all other
investors in the New Energy Fund, and look forward to announcing the fund's
first investments in due course.'

For further information, please contact:

Keith Falconer, Chairman - 07747 066637 
Ian Simm, Chief Executive - 020 7432 2619



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