Remortgaging of Quadling Quarry

Pan Pacific Aggregates plc

("PPA" or "the Company")

Remortgaging of Quadling Quarry

Pan Pacific Aggregates plc (AIM:PPA), the British Columbia based aggregates company, is pleased to announce the completion of the remortgaging of its Quadling Quarry in the Fraser Valley Regional District.

The Company has now agreed terms with Quadrum Mortgage Corporation of Calgary, Canada for a new loan of CAN$1.67m with a repayment period of 24 months ending on 30 April 2014. The proceeds of the new loan will be used to refinance the previous mortgage on Quadling Quarry which was due to expire on 30 June 2012.

The previous mortgage was also for a principal sum of CAN$1.67m and attracted interest at a rate of 13% per annum, payable monthly, but with no principal repayments. The new mortgage is for the same principal amount but attracts interest at a lower rate of 11.5% per annum, payable monthly, and will have monthly principal repayments which will be calculated at a rate based on the tonnage of product shipped from the Quadling Quarry in the previous month.

Chairman, Lynda Chase-Gardener, comments: "Following the successful placing last month, the remortgaging of our flagship quarry removes further uncertainty and puts PPA finances on a stronger and longer term footing."

For further information please visit the Company's website (www.panagg.com) or contact:

 Notes to Editor

Pan Pacific Aggregates opened Quadling Quarry in the spring of 2010. The Quarry is located adjacent to Highway 1, close to the cities of Abbotsford and Chilliwack, in the Fraser Valley Regional District of British Columbia, Canada.

The Quarry produces a wide range of quality crushed rock meeting MMCD specifications. It supplies crushed aggregate materials to local contractors, developers, the agricultural industry and private home owners throughout the Lower Mainland and Greater Vancouver Area.