Fund second closing

Impax Group PLC
15 May 2006


15 May 2006

 Impax Group plc (IPX) announces Impax New Energy Fund increases to €97 million
                      following successful second closing

Impax Group plc ('Impax'), the AIM-quoted environmental investment specialist,
today announced a €37 million second closing of its private equity fund, Impax
New Energy Investors LP ('the New Energy Fund'). The fund aims to exploit the
significant investment opportunities in Europe arising from the legally binding
European targets for renewable energy supply. This second closing increases
total commitments to the New Energy Fund to €97 million.

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. A third and final closing for the
fund is planned for summer 2006.

Ian Simm, Impax Chief Executive, commented: 'The investment climate for
renewable energy has never been more favourable and large institutional
investors are increasingly seeking exposure to it. This expansion of our fund
targeting renewable energy projects is a welcome endorsement of Impax and its
investment team.'

The New Energy Fund is supported by Dexia Credit Local, the sponsoring investor
and a leading provider of finance to the energy and infrastructure sectors in
Western Europe. Other investors in the fund include British Airways Pension
Fund, Co-operative Insurance Society, Universities Superannuation Scheme and
South Yorkshire Pensions Authority.

The fund's investment team is led by Peter Rossbach, Director of Investments,
who has 20 years' experience financing projects in this sector.

Peter Rossbach commented: 'Our work with Dexia and with contacts on the
Continent has produced a robust deal flow for the fund, particularly in the
wind, solar and biomass sectors, and we have already pre-selected a significant
number of projects for investment.'

The New Energy Fund is managed by Impax Asset Management Ltd, a wholly-owned
subsidiary of Impax Group plc.

The second closing of the New Energy Fund takes Impax's total funds under
management and advisory to over £350 million.

For further information, please contact:

Keith Falconer, Chairman - 07747 066637

Ian Simm, Chief Executive - 020 7434 1122

Peter Rossbach, Director of Investments - 020 7434 1122






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