Tulip Holdings Limited
14 June 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR 
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE 
RELEVANT LAWS OF SUCH JURISDICTION

Tulip Holdings Limited
14 June 2007


                        Tulip Holdings Limited ('Tulip')
                  Revised Offer for Trace Group plc ('Trace')
                            Irrevocable Commitments

Further to the announcement on 13 June 2007 regarding the Tulip Revised Offer
for Trace at a cash price of 156p per Trace Share, Tulip is now pleased to
announce it has received a further irrevocable undertaking to vote in favour of
the Tulip Revised Offer.

An irrevocable undertaking has been given by Herald Investment Management
Limited totalling 1,127,880 Trace shares, representing approximately 7.92 per
cent. of Trace Shares which falls away in the event of an offer of not less than
180p per Trace Share.

In aggregate, Tulip currently now holds the following irrevocable undertakings
in respect of a cash offer for Trace:

Type of Irrevocable Undertaking            Number of Trace  Shares to which   Percentage of Trace Shares
                                         the irrevocable undertakings apply

Irrevocable undertakings that do not                              1,493,939                       10.48%
fall away in the event of a higher
offer but do not include a standstill
agreement giving rise to a concert
party.

Irrevocable undertakings that do not                              5,485,773                       38.50%
fall away in the event of a higher
offer and include a standstill
agreement for a period of 12 months
from 14 May 2007

Irrevocable undertakings which fall                                  55,392                        0.39%
away in the event of an offer of not
less than 200p per Trace Share

Irrevocable undertakings which fall                               1,127,880                        7.92%
away in the event of an offer of not
less than 180p per Trace Share

Totals                                                            8,162,984                       57.29%

Terms used in this announcement shall have the same meaning as set out in the
Rule 2.5 Announcement announced on 13 June 2007.

Enquiries:

Tulip Holdings Limited                           Telephone: +44 (0) 20 7825 1000
Richard Wolfe
Peter Stolerman

Charles Stanley Securities                       Telephone: +44 (0) 20 7149 6000
(Financial adviser to Tulip)
Russell Cook
Henry Fitzgerald-O'Connor

This Announcement does not, and is not intended to, constitute or form part of
any offer to sell, or an invitation to purchase, any securities or the
solicitation of any vote or approval in any jurisdiction.  The Revised Offer
will be made solely by means of the Tulip Offer Document, which will contain the
full terms and conditions of the Revised Offer. Trace Shareholders are advised
to read carefully the formal documentation in relation to the Revised Offer once
it has been despatched.

The availability of the Revised Offer and the release, publication or
distribution of this Announcement to persons who are not resident in the United
Kingdom may be affected by the laws of the relevant jurisdictions in which they
are located.  Persons who are not resident in the United Kingdom should inform
themselves of, and observe, any applicable requirements. Any failure to comply
with such applicable requirements may constitute a violation of the securities
laws of any such jurisdictions.  This Announcement has been prepared for the
purposes of complying with English law and the City Code and the information
disclosed may not be the same as that which would have been disclosed if this
Announcement had been prepared in accordance with the laws of jurisdictions
outside the United Kingdom.

The Revised Offer will not be made in or into any jurisdiction where to do so
would constitute a violation of the relevant laws of such jurisdiction.
Custodians, nominees and trustees should observe these restrictions and should
not send or distribute the document in or into any jurisdiction where to do so
would constitute a violation of the relevant laws of such jurisdiction.

Charles Stanley, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Tulip and no one else in
connection with the Revised Offer and will not be responsible to anyone other
than Tulip for providing the protections afforded to clients of Charles Stanley
nor for providing advice in relation to the Revised Offer, the content of this
Announcement or any matter referred to herein.

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