Agreement With Leeds United Football Club

Embargoed: 0700hrs, 21 March 2005

                         International Brand Licensing                         

                           ('IBL' or the 'Company')                            

                   Agreement with Leeds United Football Club                   

International Brand Licensing plc, ('IBL') owner of the Admiral sports brand,
today announces that Leeds United Football Club will wear exclusively Admiral
playing and training kit for all representative games for a period of five
years commencing with the 2005/06 season.

Under the arrangement Leeds will control the supply and distribution of the
replica merchandise, which will be sold through club outlets, sports retail,
and selected Asda stores, IBL's exclusive retail partner in the UK.

This renews a relationship initially established in 1973 when Admiral and Leeds
launched the first ever dual branded football shirts, and this was rekindled in
the early 1990's when Leeds were the last champions of the former First
Division. In recognition of this a range of

Admiral Leeds retro shirts will also be launched next season, enabling fans to
buy authentic styles from a bygone age.

Tony Hutchinson, Chief Executive of IBL plc, comments: 'We are delighted to
once again associate Admiral with one of the most famous football clubs in the
world. Leeds United and Admiral pioneered the replica market in the early
1970's, and this new agreement will significantly enhance Admiral's visibility
both nationally and internationally, and bring substantial benefits to both
parties.'

For further details contact:

Tony Hutchinson at International Brand Licensing plc on 0207 823 1733

Adam Reynolds at Hansard Communications on 0207 245 1100