Issue of Equity

Issue of Shares

The Board of Directors of  Impax Environmental Markets plc  announces
that application  has  been made  to  the UK  Listing  Authority  for
3,000,000 Ordinary Shares  of 10  pence each  to be  admitted to  the
Official List, and to the London Stock Exchange for admission of  the
same number  of  Ordinary  Shares  to trading  on  the  London  Stock
Exchange. The Shares will be issued for cash at a price of £1.065 per
Share and  will rank  pari  passu with  existing Ordinary  Shares  in
issue.

Dealings are  expected to  commence  in the  new Ordinary  Shares  on
Friday 27th October 2006.

Following the issue, there  will be a  total of 200,356,027  Ordinary
Shares in issue.



Enquiries

Anthony
Lee
020 7566 5495
Company Secretary
Cavendish Administration Limited


Dominic
Waters                                                            020
7475 6688
Dresdner Kleinwort

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