Warrant subscription

Warrant subscription

Impax Environmental Markets plc announces that on the subscription
date of 16 June 2008 659,168 Warrants were exercised in respect of
659,168 Ordinary Shares which will be allotted at a subscription
price of 96p per Ordinary Share.

Applications have been made to the UK Listing Authority for the above
Ordinary Shares to be admitted to the Official List and to the London
Stock Exchange for the above Ordinary Shares to be admitted to
trading.  The new Ordinary Shares are expected to be admitted on 23
June 2008.

Upon admission of the above Shares to the Official List and to
trading on the London Stock Exchange, the Company will have
303,905,220 Ordinary Shares and 19,104,153 Warrants in issue.

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