Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 26 September 2007 its undiluted net asset value ("NAV")
per ordinary share was 125.93p.  The diluted NAV per ordinary share
(assuming full conversion of all outstanding warrants) was 123.44p.

The NAV per C share after share issue expenses at the commencement of
dealings on 21 September 2007 was 98.25p.

Investments in the Company's portfolios have been valued on a bid
price basis.

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