Pace to Sell Lead Business.

TORONTO--(BUSINESS WIRE)--Sept. 22, 1997-- Pace Corporation(CANADIAN DEALING NETWORK PACL. ) The Pace Corporation, having spent significant time assessing the ongoing evolution of the Lead Testing and Abatement business, has made the decision to exit the industry in the third quarter of 1997. It is expected that Pace s lead testing operation will be taken over by a former distributor, thus ensuring the continued supply of goods to the retail and professional trade.

Dr. Jeremy Clapp, President of The Pace Corporation, said, Stateand Federal governments have diverged in their approaches. Overthe past six months it has become clear that they either would beslow to legislate or would over-legislate, with the result that thereis no solid, quickly growing base of regulatory support to encouragesales of the Company's products. It has become impossible forPace to justify continuing its operations in this area.

This decision results in strategic people and asset rationalizationfor Pace, thus sharply reducing overheads, and substantiallydiminishing overall operating cash outflows.

In order to assure maximum shareholder value throughout this transition, Pace has undertaken aseries of actions to realize the best return possible on its assets. The two most important elements of this effort are:

1. Negotiating a business and inventory transfer of its Lead
Alert lead test to a former distributor in exchange for future
royalties and other considerations from the ongoing business.  To
date, a letter of intent has been signed with WRS and
Associates of Atlanta.

2. Negotiating the transfer of the PaceScan quantitative lead
business through alternative distribution again on an inventory
realization and ongoing royalty basis.

Pace will remain focused on the active development of its other divisions, which include the Medical Diagnostics Division and the Environmental Consulting business. The Diagnostics Division is the centre of significant attention within the Company, particularly following its recent announcement that sales of its HIV-LOGIC (TM) products have begun. A pre-paid order for 100,000 tests has been received from our German distributor, and more orders are expected during the third quarter.

Pace's Cardiologic System, with its capabilities for quantitative measurement of cardiac markers, was launched at the American Association for Clinical Chemists (AACC) on July 22nd in Atlanta, Georgia. Sales of the system are expected to begin in the fourth quarter of 1997, and Pace expects to make further announcements regarding additional distributors and continued sales of both Cardiologic and HIV products.

The management of Pace agrees that the decision to exit the lead business and sharpen focus on the growing medical diagnostics industry will ultimately prove to be in the best interests of all shareholders. The Company will continue to report on this new direction.

The Pace Corporation is an international company that develops, manufactures, markets, and distributes easy-to-use, accurate, and cost-effective medical diagnostic test kits. Its current areas of expertise are the early differential diagnosis of heart damage (North America s number one killer) and rapid, accurate, and economical tests for HIV-1 and HIV-2.

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

CONTACT: Pace Corporation

Dr. Jeremy Clapp, 905/709-1196