Claim by Iris Eco Power Sdn Berhad 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") Claim by Iris Eco Power Sdn Berhad IPSA Group PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in southern Africa, today announces that Iris Ecopower Sdn Berhad (“Iris”), the Malaysian company with which it entered into a contract to sell two of its Siemens Westinghouse turbines in October 2012, has issued a claim against IPSA in the Malaysian courts for the recovery of USD 3.1 million paid by way of deposit to IPSA plus costs and consequential losses amounting to approximately USD 9.8 million in total. Iris failed to pay IPSA the balance of the consideration due, in spite of being granted time extensions by IPSA, and the deposit was forfeited in accordance with the terms of the contract signed by Iris and IPSA. The contract is governed by English law. Based on legal advice previously obtained, the Board of IPSA considers the claim to be entirely without merit. The board is taking further legal advice on this matter. London 22 November 2013 For further information contact: Phil Metcalf, CEO +44 (0)20 7793 5615 IPSA Group PLC James Joyce / Nick Field +44 (0)20 7220 1666 W H Ireland Ltd Riaan van Heerden, +27 (0)21 887 9602 PSG Capital (Pty) Ltd Date: 22/11/2013 08:33:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.