Notifiable Interest

IPSA, the independent power plant developer with operations in southern Africa, announces that it received notification on 23 October 2007 that on 6 September 2007 Morgan Stanley Securities Limited ("MSSL") no longer had a notifiable interest in the share capital of the Company.

The Company announced on 15 March 2007 that MSSL had an interest in 2,805,000 ordinary shares of 2p each in the Company, representing 3.68% of the issued share capital of the Company.

For further information please contact:

Peter Earl, CEO, IPSA Group  PLC                                         020 7793 7676

Jamie Boyd, Noble and Company Limited                              020 7763 2200