Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 13 June 2006 its net asset value (NAV) was £126.677
million, representing an undiluted NAV per ordinary share of 99.28p.
The diluted NAV per ordinary share (assuming full conversion of all
outstanding warrants) was 98.78p.

The investments in the Company's portfolios have been valued at bid
prices in the above calculations.

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