Based on Advanced Systems Concepts' successful SEQUEL product suite, IP ViewPoint features an easy-to-use graphical user interface, which enables retailers to develop custom reports and data views on the fly. By giving retailers the ability to design and instantly distribute information throughout the enterprise, IP ViewPoint eliminates expensive custom programming requirements. As a result, retailers can develop targeted reports, such as sales summaries, purchase orders and inventory status, for a fraction of the cost. In addition, IP ViewPoint is fully integrated with Island Pacific's merchandising system, so Island Pacific's customers can be productive immediately.

"Until now, the powerful, customized reporting offered by IP ViewPoint has cost many retailers well over $100,000 per year in programming fees," said Steve Beck, Island Pacific president and chief operating officer. "IP ViewPoint eliminates virtually all of this expense by providing retailers with an easy-to-use tool for creating and distributing custom views and reports. Unlike other query and reporting products, this is a feature-rich, flexible tool designed to support a retailer's wide range of iSeries and AS/400 data requirements."

Brookstone, an Island Pacific customer and SEQUEL product user, is a strong advocate of IP ViewPoint, which will extend SEQUEL's success. "We have used SEQUEL to write many utility tools to allow business users to be able to do their job more efficiently," said Rick Kazanjian, product support manager of the information systems department at Brookstone. "SEQUEL's many features, both the modules I use and the non-module related features make me fall more in love with this product every day."

"Thousands of sites around the world are using SEQUEL to 'unlock' information held in their iSeries and AS/400 databases," said Rob Peterson, vice president of marketing, Advanced Systems Concepts. "Integrated with Island Pacific's merchandising system and repackaged as IP ViewPoint, this suite of data access tools goes far beyond the capabilities of IBM's Query/400, SQL/400 or other products."

About Advanced Systems Concepts

Advanced Systems Concepts (ASC) has been a provider of software tools for IBM midrange systems since 1982. The company's Data Access, Operations and Programmer tools have won numerous awards and are used at thousands of sites worldwide. ASC is dedicated to the AS/400 and iSeries user communities and continues to develop and offer tools that help IBM midrange users save time and be more productive. For more information, visit .

About Micro Electronics

Headquartered in Hilliard, Ohio in suburban Columbus, Micro Electronics was founded in 1979 at the emergence of the personal computer industry. Today, the multi-channel retailer operates 20 store locations across the United States under the Micro Center name as well as a virtual store, Micro Center On-line. The Micro Electronics family also includes WinBook Corp., Redemtech and PowerSpec. For more information, visit .

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, Calif., and has offices in the United States and the United Kingdom. For more information, visit .

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.

Stock is holding steady. I'm in this one at 2.24, and did well yesterday. Should this news push things later today? Or did the rise take place yesterday in anticipation? Thanks