Tulip Holdings Limited
10 July 2007


Tulip Holdings Limited


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

10 July 2007

                            TULIP HOLDINGS LIMITED

                           Revised Final Cash Offer

                        by Tulip Holdings plc ('Tulip')

           for the entire issued and to be issued share capital of

                           Trace Group plc ('Trace')

                             Offer Document Posted

Further to the announcement on 13 June 2007 by Tulip regarding its revised cash
offer at a price of 156 pence per Trace Share, the Board of Tulip announces that
the Offer Document will be published and  posted to Trace Shareholders today.

The Board of Tulip also announces that the revised cash offer is Tulip's final
offer and will not be increased further.

To accept the Offer in respect of Trace Shares held in certificated form (that
is, not through CREST), Trace Shareholders should complete, sign and return the
BLUE Form of Acceptance (which has been posted to Trace Shareholders along with
the Offer Document) in accordance with the instructions thereon and the
instructions in the Offer Document as soon as possible and, in any event, so as
to be received by Computershare Investor Services PLC by no later than 3.00 p.m.
London time on 31 July  2007. To accept the Offer in respect of Trace Shares
held in uncertificated form (that is, through CREST), Trace Shareholders should
submit a TTE instruction in accordance with the instructions in the Offer
Document for settlement as soon as possible.

The Offer Document along with the BLUE Form of Acceptance (for use by holders of
Trace Shares in certificated form only) will be available for inspection during
normal business hours on any weekday (public holidays excepted) at the offices
of Bevan Brittan LLP at Fleet Place House, 2 Fleet Place, Holborn Viaduct,
London, EC4M 7RF until the end of the Offer Period.

Capitalised terms used but not defined in this announcement have the same
meaning as given to them in the Offer Document.






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