GLOBE INTERNATIONAL LIMITED — Board/Management Information 2003

Jul 28, 2003

MEDIA RELEASE AND ASX ANNOUNCEMENT

29 July 2003

GLOBE APPOINTS NEW CEO AND CFO

Mr Paul Isherwood, Chairman of youth action sportswear company Globe International, today announced the appointment of Mr Michael Sonand as Chief Executive Officer and Mr Stephen Kelly as Chief Financial Officer of the company.

Both appointments are effective from 1 August 2003.

"The Board is delighted that Mr Sonand and Mr Kelly have accepted our offers of appointment," Mr Isherwood said today.

"Mr Sonand has been acting in the position of CEO since March 2003 and during this time he has personally overseen a significant structural review of the business, focused very strongly on aggressive cost management and has taken the hard decisions that were necessary with our North American operations.

"Mr Sonand brings a wealth of retail, financial and strategic experience with him to this role having held senior positions within the industry. Mr Sonand joined the group as CFO in January 2002," Mr Isherwood said.

"Mr Kelly has been employed by the company since April this year and has been intricately involved in the restructuring efforts that are currently taking place within Globe. In the position of CFO, Mr Kelly will draw heavily on his international and varied industry experience gained in senior financial management positions.

"The Board is confident that the drive, enthusiasm and knowledge that Mr Sonand and Mr Kelly will bring to their respective tasks will be a powerful force in the process of the restoration of shareholder value," Mr Isherwood said.

ENDS

Further information:

Chris Oldfield 0419 309 303