Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 25 September 2008 its net asset value ("NAV") per
ordinary share ("Share") was as follows:


Undiluted NAV per Share (including current financial year     122.69p
revenue items)

Undiluted NAV per Share (excluding current financial year     121.96p
revenue items)

Diluted NAV per Share (including current financial year       121.11p
revenue items)

Diluted NAV per Share (excluding current financial year       120.43p
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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