Re Contract

Embargoed: 0700hrs 19 April 2004

                         INTERNATIONAL BRAND LICENSING                         

                                    ('IBL')                                    

ENGLAND AND WALES CRICKET BOARD RENEW ADMIRAL KIT SPONSORSHIP OF ENGLAND
CRICKET TEAMS UNTIL MARCH 2010

International Brand Licensing is delighted to announce the conclusion of an
agreement with the England and Wales Cricket Board ('ECB') to extend the kit
sponsorship of the England cricket teams by its Admiral brand until March 2010.

IBL views the brand awareness created by this arrangement as a cornerstone in
its objective in ensuring Admiral retains its position as one of the UK's most
well-known sports brands.

ASDA, appointed in autumn 2003 as the exclusive UK retail partner of Admiral,
are due to launch the ranges of Admiral / England branded cricket replica items
in over 100 stores in the spring of this year. This launch also coincides with
the release of the new England One-Day International kit and sales generated
through ASDA stores will significantly increase the national distribution of
these products to supplement sales generated through the Test and County
Cricket Grounds and the general sports retail trade.

Admiral have also agreed with the ECB to join their family of sponsors of the
Twenty20 Cup which was launched in 2003 and proved to be a resounding success.

Mark Sibley, ECB Commercial Director, said: 'Admiral have been associated with
the England teams for some time and we're really pleased that they have
extended their association with the game to county cricket. The Twenty20 Cup
saw massive crowds last year, with a young and carnival atmosphere at matches,
and it's no surprise that strong brands like Admiral want to associate
themselves with a rejuvenated county game'.

In addition to the above ASDA will be launching an exclusive Admiral apparel
range for Euro 2004 and ranges of Admiral branded footwear and other sporting
goods throughout their stores in the second quarter of this year.

Francis Surtees, Menswear Buying Manager at GEORGE for ASDA, added: 'The
opportunity to re-establish such a historic brand has been tremendously
exciting for the whole team. Having the freedom to establish the breadth of the
offer has been the key to developing an exclusive range of retro inspired
sports and leisurewear to cater for the varied needs of the ASDA customer.'

With the heritage, tradition and brand visibility of the Admiral brand, coupled
with the value for money ethic adopted by ASDA for all their Admiral products,
IBL are confident that the partnership with ASDA will prove to be a great
success.

                                    -ends-                                     

For further information please contact,

Adam Reynolds / Ben Simons

Hansard Communications

Tel. [phone]