Share Placing

The Board of Directors of Impax Environmental Markets plc announces
that, in light of continuing demand from both existing shareholders
and potential new investors, it is considering the possibility of
raising new monies through a placing and offer for subscription.

The Company is a London-listed investment trust which seeks to enable
investors to benefit from rapid and sustained growth in the markets
for cleaner or more efficient delivery of basic services of energy,
water and waste. Investments are predominantly in quoted companies
which provide, utilise, implement or advise upon technology-based
systems, products or services in environmental markets, particularly
those of alternative energy and energy efficiency, water treatment
and pollution control, and waste technology and resource management.
The Company currently has net assets of approximately £135 million.

Further details as to the timing and amount of any placing and offer
for subscription will be made in due course if the Board decides to
proceed. For further information, please contact Ian Simm at Impax
Asset Management (020 7432 2619) or Dominic Waters at Dresdner
Kleinwort Wasserstein (020 7475 6688).




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