RNS Number:8291S
Impax Environmental Markets PLC
03 December 2003

IMPAX ENVIRONMENTAL MARKETS plc

All information is at 30 November 2003 and unaudited

DATA AND PERFORMANCE


Data                                      Pricing & Performance
                                                                  IEM            MSCI         Impax
Price (pence)                        56.5                   Net Asset Value      World         ET50      
Total Fund Size (m)                  32.8  Pence (30/11/03)       65.6            n/a          n/a
Management fee                       1.0%
Established              22 February 2002       Performance
Fund structure           Investment Trust       1 month (%)      -2.6%            0%          -2.5%
Number of stocks                       53      3 Months (%)      +0.9%           -0.8%        -1.3%
held
Exchange                           London        1 year (%)      +11.2%          +5.9%        +2.6%
Currency                              GBP  Year to date (%)      +20.0%         +15.3%        +15.7%
ISIN Number                  GB0031232498
Sedol                             3123249
Reuters RIC Code                    IEM.L
Bloomberg Code                     IEM LN



TOP TEN HOLDINGS


Company                        Holding %      Description                  Country
RPS Group                            4.6      Environmental consulting     UK
Ionics                               4.2      Water treatment              US
Casella Waste                        4.2      Waste disposal & recycling   US
Tetra Tech                           3.7      Environmental consulting     US
Wedeco                               3.6      UV disinfection              Germany
BWT                                  3.2      Water treatment              Austria
Vestas Wind Systems                  3.2      Wind                         Denmark
Hydrogenics                          3.0      Fuel cells                   Canada
Kurita Water                         2.6      Water treatment              Japan
Tomra                                2.6      Recycling systems            Norway

                 Total              34.9



PORTFOLIO ANALYSIS*


Geographical                         Company Size
North America             54%        >#500m                  22%
Europe                    40%        #100-500m               58%
Rest of the World          6%