Notifiable Interest

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 it received notification on 19 February 2007 that on 16 February 2007 Morgan Stanley Securities Limited ("MSSL") has an interest in 2,805,000 ordinary shares of 2p each in the Company, representing 4.24% of the issued share capital of the Company.

On 13 December 2006 MSSL had an interest in 2,530,000 ordinary shares of 2p each in the Company, representing 3.83% of the issued share capital of the Company.

For further information please contact:
Peter Earl, CEO, IPSA Group plc 020 7793 7676