IPSA.L Regulatory News (IPSA)

IPSA Group PLC

("IPSA" or the "Company")

Directorate Change

The Directors of IPSA are pleased to announce the appointment of Peter Richard Stephen Earl as an Executive Director, with immediate effect.

Peter Earl (aged 61) began his career at the Boston Consulting Group Inc. advising state-owned companies. He has advised governments on privatisations in Latin America and Eastern Europe having served as Deputy Chairman for the United Nations Economic Commission for Europe infrastructure finance group. He became a director of Fieldstone Private Capital Group in London in 1994 where he advised on cross-border power sector acquisitions and bids totalling approximately US$6 billion, involving 5,000 MW of installed generating capacity. In 1995 he founded Independent Power Corporation PLC. He was a founding director of Rurelec PLC in 2005. Peter was formerly a Director of IPSA, he left the board in July 2015.

Peter owns 250,000 shares in IPSA, representing approximately 0.23 per cent. of the Company's issued share capital.

Current directorships

Independent Power Construction Ltd

Hydrocarbon Exploration Ltd

Park Avenue Nominees Ltd

Amelia's Kitchen Ltd

Independent Power Operations Ltd

Hydrocarbon Exploration Peru Ltd

Anglo Kazakh Transasian Pipeline Corporation Ltd

Sloane Corporation Ltd

Andean Mining Corporation Ltd

The Independent Power Corporation Plc

Sloane Corporate Finance Ltd

Oxford Philharmonic Orchestra Productions Ltd

Oxford Philharmonic Orchestra Trust

Previous directorships (within 5 years)

IPSA Group Plc

Rurelec Plc

Rurelec Project Finance Ltd

Rurelec Power Services Ltd

Cascade Hydro Ltd

Cochrane Power Ltd

Tri-Lens Productions Ltd

Sloane Corporation Ltd

Sloane Climate Change Finance Ltd

Sloane Corporate Finance Advisors Ltd

Sloane Project Finance Ltd

8 Moorhouse Road Management Ltd

Blazeway Engineering Ltd

Pan Peruvian Mining Ltd

Peter was an executive director of Tranwood PLC when it was placed in administrative receivership in August 1991. All non-bank creditors were repaid in full. Tranwood PLC remained solvent but lost its Unlisted Securities Market ("USM") listing. USM was a market set up by the London Stock Exchange in 1980 for the trading of shares of small to medium sized companies which did not qualify for a full listing, and which was discontinued at the end of 1996. Tranwood PLC was dissolved in 2000.

Peter was also an executive director of Carter Organization, Inc. which was placed into Chapter 11 in 1991. Chapter 11 of the Bankruptcy Code (located at Title 11 of the United States Code) governs the process of reorganisation under the bankruptcy laws of the United States. Bankruptcy in the US relates to both individuals and organisations. In 1992, Carter Organization, Inc. came out of Chapter 11 successfully restructured.

Save for the information disclosed above there is no other information pursuant to Schedule 2(g) of the AIM Rules.

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