Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 16 November 2005 its net asset value per ordinary share
was 89.93p.

The net asset value per C share after share issue expenses at the
commencement of dealings on 15 November 2005 was 98.25p.


The investments in the Company's portfolios have been valued at mid
market price in the above calculations.




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