Pace Micro Technology plc Market update

Friday, September 14th, 2007
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Pace Micro Technology plc (LSE:PIC), the leading independent developer of digital TV technologies for the global payTV industry, is providing a further update on expected performance.

Pace is continuing to perform well and the Board now expects that the outcome for the shortened 2007 year* will be significantly ahead of its existing expectations. This primarily results from ongoing action to improve business efficiencies, which is delivering results ahead of our expectations across the entire product range. In addition, Pace’s US business is continuing to perform very strongly.

At this early stage the Board’s current expectation is that on an annualised basis revenues in 2008 may not be as strong as 2007, as the current exceptional sales performance in the US adjusts to normal levels. However, Pace continues to make extremely good operational progress and the Board remains confident with its existing expectations for the overall outcome for the 2008 financial year.

* Pace’s shortened financial year commenced 3rd June 2007, following a change to Pace’s accounting year-end, where future financial year-ends will close at the end of the calendar year.