Appointment of Director

IPSA is pleased to announce the appointment of Michael Neill Cox, Partner at Price Firman, as the Finance Director of the Company with immediate effect.

Michael started his career as a stockbroker for Brewin Dolphin at the London Stock Exchange in 1972. He became a Member of the Institute of Chartered Accountants in England and Wales in 1980 whilst working for Geo. Little Sebire & Co. Since then he has had Financial Directorship roles at Acco-Rexel Group Holdings Plc until 1994, a European office products manufacturer with £230m turnover, and Lake & Elliot Group Ltd until 1996.

Since May 2000, Michael has been a Partner with Price Firman, Chartered Accountants.

Michael does not currently have an interest in the share capital of the Company.

For further information please contact:

Peter Earl, CEO, IPSA Group PLC 020 7793 5600

John Llewellyn-Lloyd / Jamie Boyd, Noble & Company Limited 020 7763 2200

Allan Piper, First City Financial 07736 064 982, 020 7436 7486

Additional information

In accordance with Schedule 2(g) of the AIM Rules, the following information in relation to the appointment of Michael Cox (aged 56) as a director of IPSA is disclosed:

Current directorships and partnerships:
Price Firman, Partner
Where to Go Limited, Director
Digitalbrain Limited, Director
Digitalbrain LM Services Limited, Director
Pullman Rail Private Hire Limited, Director
Golf Solutions Limited, Director


Directorships and partnerships held in the past five years:
What's on in London Limited, Director
Shaw's Car Buyer Limited, Director
Precision Partners Limited, Director
Clayton Precision Engineering Company Limited, Director
Clayton (Twickenham) Precision Engineering Company Limited, Director
Waterman Railways Northwest Limited, Director
Bright Orange Limited, Director


Company Voluntary Arrangement:
Where to Go Limited is currently undergoing a company voluntary arrangement, which has resulted in £0.50 in the £1 recently being paid out to the company's creditors. Michael Cox became a director of Where to Go Limited at the request of a lawyer who was an executor of the estate which owned (following the death of the 99.5% shareholder) the shares with the intention to wind-up the company. Where to Go Limited has no subsidiaries.

Save for the information disclosed above there is no other information falling to be disclosed under Schedule 2(g) of the AIM Rules.