Holding in Company-Replacemnt

Impax Environmental Markets PLC
13 December 2002

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

This announcement replaces the Holding in Company announcement, RNS No 1054F 
made on 13 December 2002 at 15:21.  The amended fields are highlighted by *.



1)    Name of company
Impax Environmental Markets plc


2) Name of shareholder having a major interest
Merchant Investors Assurance Company


3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18
The shareholder named in 2 above


4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
* Bank of New York (Nominees) Limited


5) Number of shares/amount of stock acquired
-


6) Percentage of issued class
* Nil


7) Number of shares/amount of stock disposed
475,000


8) Percentage of issued class
* 0.95%


9) Class of security
Ordinary shares of 10p


10) Date of transaction
325,000 on the 11/12/02
150,000 on the 12/12/02
Total 475,000


11) Date company informed
* 13 December 2002


12) Total holding following this notification
2,925,000


13) Total percentage holding of issued class following this notification
5.85%


14) Any additional information



15) Name of contact and telephone number for queries

J.L. Luetchford  0207-490-4355


16) Name of authorised company official responsible for
making this notification

J.L. Luetchford

Date of notification 13 December 2002



                      This information is provided by RNS
            The company news service from the London Stock Exchange