Issue of Equity

The Board  of  Directors  of Impax  Environmental  Markets  plc  (the
"Company") is pleased  to announce that  at an Extraordinary  General
Meeting of the Company held earlier today the two special resolutions
relating to the issue of C Shares (the "Issue") by way of a  placing,
open offer and offer for subscription and authorising the Company  to
make market purchases of its shares were approved by Shareholders.

The Issue has raised  net proceeds of  £103,162,500 for the  Company.
84,583,684 C Shares have  been allotted pursuant  to the Placing  and
20,416,316 C Shares have been allotted pursuant to the Open Offer and
Offer for Subscription, giving an  aggregate of 105,000,000 C  Shares
allotted pursuant  to the  Issue. Such  allotment is  conditional  on
admission to the Official List and commencement of dealings in the  C
Shares on the London Stock Exchange, which is expected to take  place
on 21 September 2007.

The net proceeds of the Issue and the investments made with them will
be accounted for and managed as  a separate pool of assets until  the
date on which 90 per cent. of the  net proceeds have been invested.

Conversion of the C Shares into  Ordinary Shares in the Company  will
take place shortly thereafter.


20 September 2007

Enquiries:


Impax Asset Management Limited                 020 7434 1122
Ian Simm
Bruce Jenkyn-Jones

Dresdner Kleinwort
Dominic Waters                                              020  7475
6688
David Yovichic                                                    020
7475 7144

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