Director's Shareholding and Substantial Holding

IPSA Group PLC ("IPSA" or "the Company") announces that on 28 September 2007 its Chief Executive Officer, Peter Earl, sold 5,000,000 Ordinary shares in the Company to Independent Power Corporation PLC ("IPC"), a company of which he owns 99.9% of the ordinary issued share capital, at a price of 57.5 pence per share, the mid market closing price as at 28 September 2007. Peter Earl no longer has a notifiable interest in the share capital of the Company.

At the same time IPC has acquired a further 5,000,000 Ordinary shares in IPSA from members of the Earl family, also at 57.5 pence per share. IPC's total shareholding in IPSA is now 10,000,000 Ordinary shares, representing 11.2 per cent. of the issued share capital of IPSA.

For further information contact:

Peter Earl, CEO, IPSA Group PLC +44 (0) 20 7793 5600

John Llewellyn-Lloyd, Noble & Company Limited +44 (0) 20 7763 2200

Sean Lunn, Hichens, Harrison (South Africa) Ltd +27 (0) 21 950 2711

Allan Piper, First City Financial +44 (0) 20 7436 7486 +44 (0) 7736 064982