Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 19 May 2009 its net asset value ("NAV") per ordinary
share ("Share") was as follows:


Undiluted NAV per Share (including current financial year     104.74p
revenue items)

Undiluted NAV per Share (excluding current financial year     104.37p
revenue items)

Diluted NAV per Share (including current financial year       104.23p
revenue items)

Diluted NAV per Share (excluding current financial year       103.88p
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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