Pace Signs Confidentiality Agreement

Business Wire, July 25, 1995

TORONTO, ONTARIO--(BUSINESS WIRE)--JULY 25, 1995--THE PACE CORPORATION (THE CANADIAN DEALING NETWORK: PACL) The Pace Corporation today announced, at the request of regulatory authorities, that it has signed a confidentiality agreement with a prospective joint venture partner which, the Company expects, will result in an agreement beneficial to the Company within six or eight weeks.

The Company made the announcement following a substantial increase in both trading volumes and share price in recent days.

Dr. Jeremy Clapp, President, said that, while the Company has no written assurance that a definitive contract will be signed between the two companies, positive positions have been exchanged orally. He added that the joint venture project will involve activity by both companies to accelerate regulatory approval and marketing for Pace's proprietary cardiac diagnostic marker GPBB. Although the prospective joint venture partner cannot be identified at this time, Dr. Clapp stated that it was one of the world's largest producers and marketers of diagnostic products.

The Pace Corporation is an international company which develops, manufactures, markets and distributes easy to use, accurate and cost effective medical diagnostic and environmental test kits. Its primary areas of interest are the early differential diagnosis of heart damage, North America's number one killer, and the detection and evaluation of lead poisoning in children, the largest environmental issue in the history of the United States.

Shares of The Pace Corporation are traded on the Canadian Dealing Network (PACL).

CONTACT: The Pace Corporation

Dr. Jeremy Clapp, President & C.E.O. (905) 709-1196

or

Kieran and Co. Inc.

Jon W. Kieran, or Cathy Hume, Investor Relations

(416) 868-1079