Holding(s) in Company

Impax Environmental Markets PLC
16 January 2004


                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



1)    Name of company
Impax Environmental Markets plc

2) Name of shareholder having a major interest
Asset Value Investors Ltd

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
Non beneficial interest as investment manager

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them
Chase Nominees - 2,150,000 / Nortrust Nominees 850,000

5) Number of shares/amount of stock acquired
1,000,000

6) Percentage of issued class
2.0%

7) Number of shares/amount of stock disposed
nil

8) Percentage of issued class
nil

9) Class of security
Ordinary shares of 10p

10) Date of transaction
9 January 2004

11) Date company informed
14 January 2004

12) Total holding following this notification
3,000,000

13) Total percentage holding of issued class following this notification
6.0%

14) Any additional information
The beneficial holders of the above holding are;

British Empire Securities - 2,100,000

Yale University - 850,000

Rockefeller University - 50,000

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 16 January 2004






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