Notifiable Interest

IPSA announces that it received notification on 27 October 2006 that on 26 October 2006 FMR Corp. ('FMR') and its direct and indirect subsidiaries, being non-beneficial holders, had an interest in 2,184,605 ordinary shares of 2p each in the Company, representing 3.63% of the issued share capital of the Company.

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This percentage is calculated based on the issued share capital following the placing of shares on 19 October 2006 but prior to the subsequent placing announced on 25 October 2006. This represents the entire holding of FMR in the share capital of the Company.

The Company received notification from FMR on 8 March 2006 that FMR and its direct and indirect subsidiaries, being non-beneficial holders, had an interest in 3,246,075 ordinary shares of 2p each in the Company, representing 5.94% of the issued share capital of the Company. This notification of interest was calculated based on the issued share capital prior to the placing of shares on 19 October 2006.