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Change in name and investment manager of significant shareholder

The Board of IPSA announces that on Wednesday 2 July 2008 it received notification that on Tuesday 1 July 2008 Moore Credit Fund (Master), LP, which is interested in 3,703,700 ordinary shares in IPSA representing 4.14% of the existing issued share capital, has changed its name to JCAM Global Fund (Master), LP.

James Caird Asset Management, LLP is the investment manager of JCAM Global Fund (Master), LP.

For further information contact:

Peter Earl, CEO, IPSA Group PLC +44 (0) 20 7793 5600
Liz Shaw, COO, IPSA Group PLC +44 (0) 20 7793 5600

Nick Naylor / Jamie Boyd, Noble & Company Limited +44 (0) 20 7763 2200
(Nominated Adviser and Joint Broker)

Sean Lunn, Hichens, Harrison (South Africa) Ltd: +27 21 950 2711