Issue of Equity

Issue of Shares

The Board of Directors of  Impax Environmental Markets plc  announces
that application  has  been made  to  the UK  Listing  Authority  for
17,000,000 Ordinary Shares  of 10 pence  each to be  admitted to  the
Official List, and to the London Stock Exchange for admission of  the
same number  of  Ordinary  Shares  to trading  on  the  London  Stock
Exchange. The Shares  will be  issued for cash  at a  price of  125.5
pence per  Share and  will  rank pari  passu with  existing  Ordinary
Shares in issue.

Dealings are  expected to  commence  in the  new Ordinary  Shares  on
Tuesday 22nd May 2007.

Following the issue  there will  be a total  of 217,356,027  Ordinary
Shares in issue.


Enquiries


Russell Scott                                      020 7490 4355
Company Secretary
Cavendish Administration


Dominic Waters                                  020 7475 6688
Dresdner Kleinwort

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