AGM Statement

RNS Number:5491P
Pace Micro Technology PLC
09 September 2003







                                                               09 September 2003



                                 PACE MICRO TECHNOLOGY plc

                                  Annual General Meeting

                                  Chairman's Statement



Sir Michael Bett, Chairman of Pace Micro Technology plc, included the following
update in the Company's AGM today.



"Since Pace's Preliminary Announcement of results for the year ended 31 May 2003
there has been further evidence of some recovery in the digital set-top-box
market.

I would like to update you on the three contracts announced at the end of the
last financial year. Deliveries have now started to Sky Italia, and the product
development work for Foxtel in Australia and Viasat Broadcasting in Scandinavia
is almost complete.  Furthermore, Pace has recently won an order from Premiere
for its first digital contract in Germany with deliveries expected to commence
in early 2004.



Additionally, as reported in the Preliminary Announcement, Pace continues to
make steady progress in the US, the world's largest digital television market.
However, as expected, Pace's US operations will continue to lose money for the
next six months.



Whilst revenues are running at a higher level than previously anticipated,
percentage margins are at the low end of the range of expectations as a result
of strong competition and adverse currency movements. Overheads are down in line
with expectations at the time of the Preliminary Announcement.



The cautious optimism that was referred to in the Preliminary Announcement
remains appropriate."







Contacts for further information:
Pace Micro Technology plc
John Dyson/Helen Kettleborough
01273 538 005 / 07887 634083

Citigate Dewe Rogerson
Ginny Pulbrook
020 7282 2945


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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