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GLOBE INTERNATIONAL LIMITED M&A Activity 2006

Oct 17, 2006

64990_rns_2006-10-17_bbadc7e2-9102-49ca-9428-3420900ca23d.pdf

M&A Activity

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18 October 2006

ASX/NZX Joint Announcement

Pacific Brands negotiating an agreement to acquire Streetwear Division of Globe International

Pacific Brands Limited (Pacific Brands) (ASX/NZX: PBG) today announced that it has been undertaking negotiations to acquire the Australian and New Zealand Streetwear Division of Globe International (Globe) (ASX: GLB). A conditional agreement is expected to be signed today.

Media speculation over price is very inaccurate.

Further details will be released once the agreement has been signed.

For further information contact:

Pacific Brands

Katherine Cooper on +61 3 9947 4926 or +61 408 773 312