Holding(s) in Company

Impax Environmental Markets PLC
26 August 2003


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



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
1,000,000

8) Percentage of issued class
2.0%

9) Class of security
Ordinary shares of 10p

10) Date of transaction
19 August 2003

11) Date company informed
22 August 2003

12) Total holding following this notification
Not notifiable

13) Total percentage holding of issued class following this notification
Not notifiable (Less than 3.0%)

14) Any additional information
Allianz AG is the ultimate holding company of Merchant Investors Assurance
Company

15) Name of contact and telephone number for queries

Anthony Lee 0207-490-4355

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

Anthony Lee

Date of notification 26 August 2003






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