Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 24 November 2009 its unaudited net asset value ("NAV")
per ordinary share ("Share") was as follows:


Undiluted NAV per Share (including current financial year     121.44p
revenue items)

Undiluted NAV per Share (excluding current financial year     120.64p
revenue items)

Diluted NAV per Share (including current financial year       119.97p
revenue items)

Diluted NAV per Share (excluding current financial year       119.22p
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.

No adjustment for dilution to the above NAV has been made in respect
of any shares held in treasury as the Company's presently stated
policy is that treasury shares will not be sold at less than NAV.

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