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Island Pacific Inks Array of New Contracts

From: ASAP


Island Pacific, a division of SVI Solutions, Inc. (AMEX: SVI), announced today that it completed a number of recent sales contracts. Customers included Big 5 Sporting Goods, Brookstone, Citi Trends, Christopher & Banks, Hibbetts Sporting Goods, Jos. A. Bank Clothiers, Lily Pulitzer, Nautica, Nike and Urban Outfitters.

“Our customers appreciate the diversity of our products, giving them a solid foundation for aggressive growth,” said Steve Beck, Island Pacific president and chief operating officer. “We are thrilled to provide such great value to our customers, while also fostering their continued partnership with Island Pacific.”

“Our ability to secure ongoing customer commitments – both contractual and financial -- demonstrates the trust we have been able to build,” added Harvey Braun, CEO of Island Pacific. “I believe our customers will deeply value the capabilities we have added and will be adding in the months and years to come. Our strategic direction to become the high value, low cost provider continues to be validated by our customers as they embrace our alliance partner products.”

Island Pacific continues to be an industry leader and will continue to form strategic alliances to quickly diversify the solutions offered to its customers.

“We are shopping the world for products and services that will be beneficial to our marketplace and integrating them into our solutions set,” said Beck. “Our solutions will remain relevant because we will be proactive in anticipating the need of retailers as the market evolves.”

About Island Pacific For more than 25 years, Island Pacific has developed a reputation for delivering high-quality, high-reliability software to the retail industry. Recently, the company has transformed itself into the low-cost, high-value provider of retail enterprise solutions by developing breakthrough technologies, and by partnering with leading consulting organizations to provide next-generation services. In addition, Island Pacific leverages its years of experience with emerging and established retailers to craft creative solutions tailored for each customer’s needs. As a result, Island Pacific is the definitive resource for scalable, flexible and affordable solutions for retailers around the world.

With nearly 200 customers, Island Pacific and its solutions are represented in more than 30,000 stores worldwide, and manage more than 1.5 billion transactions annually. Island Pacific is a division of SVI Solutions, Inc. (AMEX: SVI). Founded in 1978, the company is headquartered in Irvine, California, and has offices in the United States and the United Kingdom. For more information, please visit www.islandpacific.com.

SVI’s name will be changing to Island Pacific with a new ticker symbol of AMEX: IPI. It is anticipated that the change will be completed by mid-July.

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. 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 for the fiscal year ended March 31, 2003 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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