Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 23 July 2008 its net asset value ("NAV") per ordinary
share ("Share") was as follows:


Undiluted NAV per Share (including current financial year     124.02p
revenue items)

Undiluted NAV per Share (excluding current financial year     123.43p
revenue items)

Diluted NAV per Share (including current financial year       122.36p
revenue items)

Diluted NAV per Share (excluding current financial year       121.81p
revenue items)



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

Diluted NAV per Share assumes full conversion of all outstanding
warrants.

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