New fund launched

Impax Group PLC
02 July 2003


Impax Group plc is pleased to announce that its asset management subsidiary,
Impax Asset Management Ltd, is now managing The Recycling Fund ('the Fund'), a
venture capital fund targeting the recycling sector. The Fund, which was
launched today, is sponsored by the Waste and Resources Action Programme, a
company established by government to promote sustainable waste management in the
UK. With £5.5 million of committed capital, the Fund is expected to have a life
of 10 years.


2 July 2003






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