Interim Management Statement

Pace plc: Interim Management Statement

Saltaire, UK, 24 April 2013: Pace plc, a leading global developer of technologies and products for PayTV and broadband service providers, today announces its Interim Management Statement for the 16 week period from 1 January 2013 to 23 April 2013.

At its Annual General Meeting scheduled to take place today, Allan Leighton, Chairman, will say:

"I am pleased to report that Pace has made an encouraging start to the new financial year with strong revenue growth in the period, in line with our expectations. We expect revenue for H1 2013 will be ahead of H1 2012, driven largely by continuing demand for Media Server products in North America and the comparative half being impacted by Hard Disk Drive supply disruption.

Profitability is in line with our expectations and the robust cash flow generation has continued.

We continue to focus on the execution of our Strategic Plan and have made good headway in the period:

·; Transform Core Economics: The transformation of our supply chain continues to progress well with the implementation of a single Product Lifecycle Management system and related engineering processes across the whole business. This will support the transition to two core Electronic Manufacturing Services (EMS) partners that will be completed later in the year.

·; PayTV Hardware Leadership: 

o Liberty Global, a leading international cable operator, has selected Pace to provide Media Server products to a number of their operations in Europe.

o Pace has been selected by Telefonica as the major supplier of High Definition Zapper and PVR devices for their IPTV operations in Latin America as part of their rollout of the Telefonica Global Service Platform. Initial deployments will take place in Brazil and Chile later in the year.

·; Widen out into Software, Services and Integrated Solutions:

o The win rate and pipeline of new business remains strong across all areas of our software and services offerings and we have made good progress in the delivery of the landmark customer projects won in 2012.

o Our Latens business has deployed an integrated product combining Conditional Access (CA) and Digital Rights Management (DRM) for both Broadcast and Over-the-Top (OTT) services, the first deployment of its kind in the industry.

2013 Outlook

The Group has made a good start to the year and management remains confident of achieving the outlook stated on 5 March 2013:

·; Revenues for 2013 expected to be broadly in line with 2012.

·; Operating Margin for 2013 is expected to be c.7.5%.

·; Strong cash flow will continue, and Pace expects to be in a positive cash position at the end of 2013."

The Group will be announcing its half year results for the period ending 30 June 2013 on 30 July 2013.

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For further information please contact:

Andrew Dowler / Charles Chichester Roddy Murray / Chris Mather

RLM Finsbury Pace plc

+44 (0) 207 251 3801 +44 (0) 1274 538 248