Notifiable Interest

IPSA, the AIM and ALTx dual listed independent power plant developer with operations in southern Africa, announces that it received notification on 29 January 2007 that on 25 January 2007 UBS Investment Bank ("UBS"), acting through its controlled entity UBS AG London Branch, had an interest in 3,929,009 ordinary shares of 2p each in the Company, representing 5.94% of the issued share capital of the Company. This represents the entire holding of UBS in the share capital of the Company.

UBS previously reported notifiable interests under the name UBS AG, which is now reporting on a disaggregated basis as follows: UBS Investment Bank, UBS Global Wealth Management and Business Banking, UBS Global Asset Management DRCM, UBS Global Asset Management Traditional, UBS Global Asset Management Alternative and Quantitative and UBS Global Asset Management IFS.

On 15 January 2007 UBS AG, acting through its business group and legal entities, had an interest in 4,029,009 ordinary shares of 2p each in the Company, representing 6.09% of the issued share capital of the Company.


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