Orderly market agreement

ITM POWER PLC                                 

                              Holdings in Company                              

ITM Power plc ('ITM Power' or the 'Company') announces that its nominated
adviser and broker, Durlacher Limited, has agreed to exercise its discretion to
release the RAB Special Situations L.P. fund ('RAB') from the lock-in
arrangements put in place on the Company's admission to AIM in order to create
additional liquidity. The lock-in arrangement has been replaced with an orderly
market agreement that runs to 10 June 2006. The lock-in arrangement had been
due to run until 10 June 2005, being 12 months from the date of the Company's
admission to AIM, with an orderly market agreement to run thereafter for a
further 12 months.

The RAB Special Situations L.P. fund currently holds 6,825,000 ordinary shares
representing 7.5 per cent. of the Company's issued share capital.

For further information please contact:

Stephen Massey                        David Rae                            
                                                                           
Jim Heathcote                         Katherine Roe                        
                                                                           
ITM Power Plc                         Durlacher Limited                    
                                                                           
Tel: [phone]                     Tel: [phone]