Aussie Apparel acquires brands

Friday, 08 June 2007

Aussie Apparel Group, Ltd., on Thursday announced that the closing
documents were signed, pertaining to AAPG's acquisition of the Hot Tuna
(surf/wakeboarding), Xisle (surf/skate), Piranha Boy and Piranha Girl
brands (children's surf) from Federation Group. The definitive
acquisition agreement is valued at approximately 7.5 million USD.

The fall 2003 product lines have been designed and developed by
Federation out of Australia. AAPG will design and develop its first line
for all three brands for Spring 2004 delivery. Simultaneously, AAPG will
proceed to set up International distribution.

January 24, 2003