Formal SARB approval for Placing of shares on ALTx

IPSA, the independent power plant developer with operations in southern Africa, which is quoted on AIM and has a secondary listing on ALTx, announces that, following receipt of exchange control approval from the South African Reserve Bank for the listing of the new shares on ALTx, it has today submitted its application for 10,000,000 new ordinary shares of 2p each in the Company (the "Placing Shares") to be admitted simultaneously to AIM and ALTx. It is expected that the Placing Shares will be admitted to trading on 8 March 2007.

The placing for cash was originally announced on 16 February 2007 and will raise £7,500,000 before expenses (approximately ZAR 105,853,875).

There are no shares held in treasury, so the total number of voting rights in the Company following admission of the Placing Shares to AIM and ALTx will be 76,129,469. This figure may be used by shareholders from 8 March 2007 as the denominator for the calculations by which they will determine whether they are required to notify their interest, or change to their interest, in IPSA, under the Disclosure and Transparency Rules.


For further information please contact:
Peter Earl, CEO, IPSA Group PLC 020 7793 7676
John Llewellyn-Lloyd, Noble & Company Limited 020 7763 2200
Allan Piper, First City Financial 07736 064982 / 020 7436 7486