Notifiable Interest

IPSA, the independent power plant developer with operations in southern Africa, announces that it received notification on 29 February 2008 that on 26 February 2008 Rathbone Unit Trust Management Ltd ('Rathbone'), acting through its business group and legal entities, had an interest in 4,000,000 ordinary shares of 2 pence each in the Company, representing 4.47% of the issued share capital of the Company. This represents the entire holding of Rathbone in the share capital of the Company.

The issued share capital of the Company is 89,564,081 ordinary shares of 2 pence per share.

For further information please contact:

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

Nick Naylor / Jamie Boyd, Noble & Company Limited
+44 (0) 20 7763 2200
(Nominated Adviser and Joint Broker)

Sean Lunn, Hichens, Harrison (South Africa) Ltd
+2721 950 2711
(Joint Broker)

Allan Piper, First City Financial
+44 (0) 20 7242 2666
(UK Public Relations Advisers)

Jacques de Bie, College Hill (South Africa)
+2711 447 3030
(South African Public Relations Advisers)