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Island Pacific Signs Contract with A/X Armani Exchange; Innovative Apparel Retailer Opts for Unrestricted License Agreement
Business Wire - March 02, 2004 11:39

IRVINE, Calif., Mar 2, 2004 (BUSINESS WIRE) -- Island Pacific (AMEX:IPI) announced today the signing of a contract with A/X Armani Exchange, an innovative apparel retailer that acts as an incubator for Giorgio Armani's new ideas. The contract includes an unrestricted license agreement for Island Pacific's IPMS Merchandise Management System running on the IBM iSeries platform.

IPMS provides a comprehensive solution for management of core retail processes and supports all operational areas of the supply chain and has been employed by A/X Armani Exchange since 1995. "We are pleased that A/X Armani Exchange has chosen to continue our relationship through this agreement," said Harvey Braun, chief executive officer of Island Pacific. "This is a retailer that is on the cutting edge of fashion. We are committed to keeping them on the cutting edge of technology as well."

A/X Armani Exchange

A/X Armani Exchange is an apparel retailer with 39 store locations in the United States offering an innovative, interchangeable mix of edgy separates for men and women. Launched in 1991, A/X Armani Exchange is the voice of urban youth, a fashion conscience, an incubator for Giorgio Armani's new ideas and the street barometer of fashion direction.

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. 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.

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 (SVI) Form 10-KA 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. IPI 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.

Editor's note: Contact Ken Sgro, CEOcast, at 212/732-4300 or Ron Both, Liolios Group, at 949/574-3860 for investor relations information.