Distribution Agreement Update

Immediate release: 10 May 2004

                       International Brand Licensing PLC                       

                                    ('IBL')                                    

International Brand Licensing, the owner of the Admiral brand, is delighted to
announce that ASDA is today officially launching its Admiral range of
sportswear in 240 stores across the United Kingdom.

At today's launch 30 styles of apparel and footwear will go on sale and further
comprehensive ranges will be introduced throughout the year to include
additional collections of Admiral branded clothing, footwear and sports
equipment for adults and children.

ASDA are supporting the introduction of these ranges with a national
advertising campaign entitled: 'Admiral Exclusively Designed By George.'

IBL believe that this licensing partnership with ASDA will significantly grow
Admiral to become one of the leading sportswear brands within the United
Kingdom, as well as providing a platform upon which further substantial growth
can be secured across a number of international markets.

For further information please contact:

Andrew Tan

Hansard Communications

Tel. [phone]