IPSA GROUP PLC - Update re settlement of funds owed by Rurelec PLC

Update re settlement of funds owed by Rurelec PLC

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 settlement of funds owed by Rurelec PLC

IPSA notes the announcement made this morning by Rurelec PLC regarding the sale of its stake in
the Canchayllo hydroelectric plant in Peru. The Company expects to receive payment from Rurelec
of the £3.2 million deferred consideration still owed to IPSA from the sale of the Westinghouse
Siemens gas turbines, shortly after Rurelec receives payment of the $6.5 million consideration for
the Canchayllo hydroelectric plant.

A further announcement will be made in due course.

For further information contact:



Peter R.S. Earl, Acting CEO                  +44 (0)20 7793 5615
IPSA Group PLC

James Joyce / James Bavister                 +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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