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Island Pacific Signs License Agreement with Pacific

From: ASAP

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Island Pacific, a division of SVI Solutions, Inc. (AMEX: SVI), announced today the signing of an unrestricted license agreement with Pacific Sunwear (NASDAQ: PSUN), a leading mall-based specialty retailer of everyday casual apparel, accessories and footwear designed to meet the lifestyle needs of active teens and young adults. The license agreement covers Island Pacific’s Merchandise Management system including Trends, a dynamic replenishment solution and IP Integrator, an embedded integration solution. “Our core processes are built around the Island Pacific Merchandise Management system,” said Ron Ehlers, vice president of information systems, Pacific Sunwear. “As our company has evolved, our information needs have grown dramatically – and Island Pacific’s merchandising solution has grown right along with us. This unrestricted license agreement and two new IP solutions will give us the flexibility and tools to continue to support our rapid growth.”

Island Pacific joined Pacific Sunwear on its rapid ascent when just 23 stores were in operation. Today Pacific Sunwear has over 800 stores in 48 states and Puerto Rico. “We’ve proven our solutions are functional, reliable, and scalable with one of the hottest retailers in the country,” said Steve Beck, president of Island Pacific. “If any retailer questions our ability to support their needs today or in the future, they should look at our track record.” Beck continued, “But the past only tells half the story. They should then turn to Island Pacific’s new management team for the other half. Quality and reliability may have been good enough for the 20th century, but we recognize that business today requires something more. We have committed the company to being the most valuable resource to retailers, to work tirelessly to provide holistic solutions, and to offer applications, services, and advice appropriate to their business and their budget. We’re ready to prove ourselves all over again.”

About Island Pacific With more than 130 customers worldwide, representing 31,000+ stores, Island Pacific has taken the most widely used, most highly scalable, and most reliable retail enterprise software, and in concert with client and partner companies, crafted the most creative and affordable software and services solutions for retailers. InFocus and InVision are the company’s core products and operate on IBM iSeries and AS/400 platforms. Founded in 1978, Island Pacific is headquartered in Irvine, California, and has offices in the United States and the United Kingdom. Additional information about Island Pacific can be obtained at www.islandpacific.com or [email protected]

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. 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 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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