Notifiable Interest

IPSA, the AIM and ALTx dual listed independent power plant developer with operations in southern Africa, announces that it received notification on 7 November 2006 that that on 3 November 2006 UBS AG ("UBS"), acting through its business group and legal entities, had an interest in 3,025,000 ordinary shares of 2p each in the Company, representing 4.57% of the issued share capital of the Company. This represents the entire holding of UBS in the share capital of the Company.

On 5 July 2006 UBS AG, acting through its business group and legal entities, had an interest in 3,025,000 ordinary shares of 2p each in the Company, representing 5.54% of the issued 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