IPS - IPSA - Start-up of the Newcastle Cogeneration Plant

IPS - IPSA - Start-up of the Newcastle Cogeneration Plant                       
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")                                                       
Start-up of the Newcastle Cogeneration Plant                                    
IPSA PLC (AIM:IPSA), the developer, owner and operator of power generation      
capacity in Southern Africa, announces that it has successfully re-commenced    
operations at its cogeneration plant at Newcastle KwaZuluNatal, South Africa.   
The plant is now supplying electricity to Eskom under the medium term power     
purchase agreement dated 26th August 2010.                                      
Restarting the Newcastle cogeneration plant followed final agreement on a gas   
supply contract with Spring Lights Gas (Pty) Limited, as announced on 23        
February 2011.  A recent placing of IPSA shares provided the working capital    
required to provide the required security under the Spring Lights gas contract. 
London                                                                          
24 March 2011                                                                   
For further information contact:                                                
Peter Earl, CEO, IPSA Group PLC    +44 (0)20 7793 5615                          
John Llewellyn-Lloyd / Harry Stockdale, Execution Noble & Company Ltd     +44   
(0)20 7456 9191                                                                 
Riaan van Heerden, PSG Capital (Pty) Ltd  +27 (0)21 887 9602                    
Date: 24/03/2011 14:31:51 Supplied by www.sharenet.co.za                     
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