Placing

ITM Power PLC
01 July 2005


1 July 2005

                                        
                                  ITM Power Plc
                            ('ITM' or 'the Company')
                                        
                          Placing of Founders' Shares


ITM announced today that John Wreford, Finance Director, intends to retire from
the Board and the Company in December 2005.

Mr Wreford, aged 63, was one of the co-founders of the Company in 2000 and the
Board of ITM wishes to thank him for his valuable contribution over the last
five years. Mr Wreford intends to place a part of his interest in ITM, subject
to market demand, to fund his retirement.

Dr John Lloyd and Dr Donald Highgate, co-founders of ITM, also intend to place a
small proportion of their shareholdings, subject to market demand. Mr Wreford,
Dr Lloyd and Dr Highgate have all agreed not to sell any further shares for a
period of twelve months.

In aggregate, the total proposed placing will represent less than 10% of ITM's
issued share capital.

The Board of ITM believes that a placing of a proportion of the founders' stock
will widen the Company's shareholder base and meet market demand for increased
liquidity in the Company's shares.


For further information please contact:


Jim Heathcote, Chief Executive         Gemma Chandler
ITM Power PLC                          Tavistock Communications
Tel: [phone]                      Tel: [phone]

Simon Hurst/ Richard Swindells/Katherine Roe
Panmure Gordon & Co
Tel: [phone]






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