Financing of proposed acquisition of 2Wire, Inc

1 September 2010

Pace announces signing of definitive documentation in respect of financing of proposed acquisition of 2Wire, Inc.

Further to the announcement of its proposed acquisition of 2Wire, Inc. ("2Wire") on 26 July 2010, Pace plc ("Pace" or the "Company") announces that it has yesterday signed definitive final documentation with HSBC Bank plc and The Royal Bank of Scotland plc in respect of fully underwritten facilities to fund, in part, the Company's proposed acquisition of 2Wire, Inc. ("2Wire").

The facilities consist of a $300 million Term Loan Facility and a $150 million Multicurrency Revolving Credit Facility. Draw down of the facilities is subject to the satisfaction of customary conditions precedent. The acquisition of 2Wire remains conditional on certain conditions including regulatory consents and Pace shareholder approval at a General Meeting, notice of which will be sent to Pace shareholders together with the Circular. The Company has at the same time cancelled the £35m revolving facility with The Royal Bank of Scotland plc.

Terms not defined in this announcement have the same meaning as those in the Company's announcement of 26 July 2010 relating to the Acquisition.