Directors Dealing

26 March 2014

IPSA Group PLC

("IPSA" or "the Company")

Director's Dealing

IPSA Group PLC (AIM: IPSA), the developer, owner and operator of power generation capacity in Southern Africa, has been notified that on Friday 21 March 2014 Peter Earl, a non-executive director, transferred 250,000 ordinary shares of two pence ("Ordinary Shares") each in the Company to his Self-Invested Personal Pension (SIPP) at a price of 3.25 pence per share.

As a result of this transaction Peter Earl's holding remains unchanged at 250,000 Ordinary Shares which represent approximately 0.23% of Rurelec's issued share capital.

The total number of IPSA securities in issue is 107,504,081 for the purpose of voting rights.

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