> September 19, 2005
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 > April 4, 2008
 > June 30, 2008
 > July 3, 2008

Appointment of Director

IPSA is pleased to announce the appointment of Neil Bryson, former Chairman of The Electricity Pool of England & Wales, as an independent non-executive Director of the Company with immediate effect.

Neil graduated in Geology from the University of Durham and has spent over 35 years in the energy sector. Neil worked as an exploration manager and chief coal geologist in his early years before taking up a role as a technical coal specialist to the United Kindom’s Department of Energy advising on coal industry matters. In 1987 he acquired a 50% interest in Faldane Limited, owner of the largest private coal mine in Scotland, and became its Commercial Director. In 1988 he was one of the founder directors of Lakeland Power Limited, developer and owner of the first gas-fired independent power generation project in the UK. Since 1991 Neil has been running his own company, Balmyle Limited, which provides consultancy and interim management services, mainly to the power sector.

Neil does not currently have an interest in the share capital of the Company.

Commenting on the appointment Peter Earl, Chief Executive Officer of IPSA, said:

“We are delighted that Neil will be joining our Board at IPSA. Neil’s experience and knowledge of both electricity and coal production will be of huge value to the Company as we continue to expand our portfolio of power projects in Southern Africa.”

For further information contact:

Additional information:

In accordance with Schedule 2 (g) of the AIM Rules, the following information in relation to the appointment of Neil Bryson (age 57) as a director of IPSA is disclosed:

Current directorships and partnerships:

• Cumbria Power Limited, Director
• Melkit Limited, Director
• Ogilvy & Estill Limited, Director
• Association of Electricity Producers Limited, Director
• Mineral Development Limited, Director
• Balmyle Limited, Director
• Environmental Facilities Limited, Director
• ESD Biomass Limited, Director
• Judith Irwin Fine Wines Limited, Director

Directorships and partnerships held in the past five years:

• Marshgate Ventures Limited, Director

Save for the information disclosed above there is no other information falling to be disclosed under Schedule 2(g) of the AIM Rules.