Net Asset Value(s)

Impax Environmental Markets plc announces that as at the close of
business on 21 November 2005 its net asset value per ordinary share
was 92.12p.

The latest published net asset value per C share as at the close of
business on 18 November 2005 was 99.08p.


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




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