IPSA GROUP PLC - Update re sale of turbines

Update re sale of turbines

IPSA GROUP PLC
(Incorporated and registered in England and Wales)
(Registration Number 5496202)
AIM Share Code IPSA   ISIN GB00BOCJ3F01
JSE Share Code IPS    ISIN GB00BOCJ3F01
("IPSA" or "the Company")

Update re Sale of Turbines

IPSA Group PLC (AIM:IPSA), the developer, owner and operator
of power generation capacity in southern Africa, notes the
recent movement in its share price and advises shareholders
that the situation in relation to the sale of the two turbines
to Iris Eco Power Sdn BHD (“Iris”) remains the same as
described in the announcement dated 18 December 2012: an
extension was requested by Iris in December 2012 which the
Company’s principal creditors have not yet given their consent
to formalise. In the meantime, Iris continues to make efforts
to complete the purchase of the turbines as planned.

A further announcement will be made as and when appropriate.

London
14 January 2013

For further information contact:


Phil Metcalf, CEO                  +44 (0)20 7793 5615
IPSA Group PLC

John Llewellyn-Lloyd / Harry       +44 (0)20 7456 9191
Stockdale
Execution Noble & Company Ltd

Harry Ansell / James Joyce         +44 (0)20 7220 1666
W H Ireland Ltd

Riaan van Heerden,                 +27 (0)21 887 9602
PSG Capital (Pty) Ltd

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