IPSA GROUP PLC - Sale of turbines

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")

Sale of Turbines

IPSA Group PLC (AIM:IPSA), the developer, owner and operator
of power generation capacity in southern Africa, announces
that it has now exchanged contracts for the sale of its two
remaining Siemens Westinghouse 701 DU gas turbines to Iris Eco
Power Sdn Bhd, a Malaysian power development company, for a
consideration of USD31 million, as first announced on 15
October 2012.

Under the turbine sale agreement, completion is expected to
occur on or before 30 November 2012. A further announcement
will be made once the completion payment is received.

London
19 November 2012


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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