Notifiable Interest

IPSA, the AIM and ALTx dual listed independent power plant developer with operations in southern Africa, announces that it received notification on 6 November 2006 that Stanlib Asset Management Limited ("Stanlib") had an interest in 8,000,000 ordinary shares of 2p each in the Company, held on behalf of its clients, representing 12.10% of the issued share capital of the Company. This represents the entire holding of Stanlib in the share capital of the Company.

For further information please contact:

Peter Earl, CEO, IPSA Group plc 020 7793 7676
Mark Froggatt, Noble & Company Limited 020 7763 2200
Allan Piper, First City Financial 07736 064982 / 020 7436 7486