RNS Number:8231R
Impax Environmental Markets PLC
07 November 2003



IMPAX ENVIRONMENTAL MARKETS plc

All information is at 31 October 2003 and unaudited



DATA AND PERFORMANCE


Data                                      Pricing & Performance

Price (pence)                       55.75                         IEM            MSCI         Impax
                                                            Net Asset Value      World         ET50
Total Fund Size (m)                  33.6  Pence (31/10/03)       67.4            n/a          n/a
Management fee                       1.0%
Established              22 February 2002       Performance
Fund structure           Investment Trust       1 month (%)      +7.0%           +3.6%        +5.2%
Number of stocks                       53      3 Months (%)      +12.1%          +2.7%        +8.3%
held
Exchange                           London        1 year (%)      +22.3%         +12.1%        +13.3%
Currency                              GBP  Year to date (%)      +23.0%         +15.3%        +18.6%
ISIN Number                  GB0031232498
Sedol                             3123249
Reuters RIC Code                    IEM.L
Bloomberg Code                     IEM LN



TOP TEN HOLDINGS


Company                        Holding %      Description                  Country
RPS Group                            4.5      Environmental consulting     UK
Vestas Wind Systems                  4.5      Wind                         Denmark
Casella Waste                        4.0      Waste disposal & recycling   US
Ionics                               3.7      Water treatment              US
Hydrogenics                          3.5      Fuel cells                   Canada
Impco Tech                           3.3      Clean engines                US
Tetra Tech                           3.2      Environmental consulting     US
Wedeco                               2.7      UV disinfection              Germany
Veolia Environnement                 2.7      Water & waste                France
Fuel Cell Energy                     2.7      Fuel cells                   US

                 Total              34.8



PORTFOLIO ANALYSIS*


Geographical                         Company Size
North America             56%        >#500m                  22%
Europe                    38%        #100-500m               56%
Rest of the World          6%