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Island Pacific Announcement at NRF

From: ASAP

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Island Pacific, a division of SVI Solutions, Inc. (AMEX: SVI), announced today at the National Retail Federation (NRF) 92nd Annual Convention and Expo at Jacob Javits Convention Center in New York City the signing of a license and services agreement with Group USA, a woman’s clothing, shoes and accessories retailer with 22 stores in 13 states and Puerto Rico.

Group USA’s license agreement covers Island Pacific’s Merchandise Management system including the Merchandising, The Eye™, Financials, Sales Audit, Warehouse, Ticketing and Events modules running on the IBM iSeries. “Island Pacific’s Merchandise Management System will be the foundation of our new corporate-wide merchandise management information system,” said Raffi Alleverdian, Chief Financial Officer of Group USA. “This system will enhance our merchandise planning capabilities, give us greater inventory control, and improve the process of distributing goods to our stores. The visibility and control that we will gain over merchandising transactions will positively impact the financial success at Group USA.”

Island Pacific’s president, Steve Beck, commented, “We offer the best solution for the growing retailer hands down. We provide high functionality at a price that makes sense for their size and needs. And most importantly, our solution will grow with Group USA to 25, 50, 100, or 1,000 stores. It is a foundation that will support them no matter what the future holds for them.”

About Group USA Group USA offers the latest styles in women’ clothing, shoes and accessories in 22 stores from coast to coast and in Puerto Rico. They offer women, as well as the young and contemporary customers, quality, fashion and value. Their Special Occasion Department offers an exciting and extensive selection of evening dresses. The Bridal Salon at Group USA, the bride-to-be, as well as her wedding party, can make their dream wedding come true. The current Group USA expansion into their new Camille La Vie concept stores will offer the best of their collections in an updated and upscale environment. More information can be obtained on their web site at www.GroupUSA.com.

About Island Pacific Island Pacific provides retailers with a fully integrated suite of software to manage the spectrum of merchandising activities and create success for single and multi-channel businesses. Partnering with our customers, our products deliver the tools retailers need to effectively increase revenues and profits – assuring merchandise desired by customers is in retailers' stores priced competitively. To complement the spectrum of success provided by our software products, we also offer a breadth of professional services including consulting, implementation, technical and project management. Headquartered in Irvine, California, Island Pacific has offices in the United States and the United Kingdom. Its worldwide customer base includes major retailers such as American Eagle Outfitters, Chick’s Sporting Goods, The Limited, Nike, Signet, Timberland, and Vans, Inc. More information about Island Pacific can be obtained on our website at www.islandpacific.com

About SVI Headquartered in Carlsbad, CA, SVI provides multi-channel technology solutions to retailers. The company’s suite of offerings includes store systems as well as enterprise management, merchandising and direct-to-consumer solutions sold under the Island Pacific brand. Complementing these offerings, the Company provides an expansive menu of professional services including consulting and implementation services, as well as technical and project management services. SVI maintains offices in the United States and the United Kingdom. SVI’s subsidiary, SVI Training Products, is a leading provider of state-of-the- art PC courseware, customization tools and skills assessment software for educational institutions and government entities. More information about SVI can be obtained on their website at www.svisolutions.com.

Certain statements contained in this news release regarding matters that are not historical facts are forward-looking statements. These statements relate to future events or the Company’s future performance. These statements are only predictions. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed in the Company’s Form 10-K (as amended) for the fiscal year ended March 31, 2002 and other risk factors identified from time to time in the Company’s filings with the Securities and Exchange Commission. SVI undertakes no obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events.

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