Sun Ice Announces Completion of Joint Venture Agreements for its North American Golf Business.

CALGARY, ALBERTA--(BUSINESS WIRE)--Feb. 24, 1997--Sun Ice (Alberta Stock Exchange, TSE SIH.) Sylvia Rempel, Chairman, President and Chief Executive Officer of Sun Ice Limited, announced today that the previously announced agreements for the transfer of the sales, marketing, distribution and sourcing activities of its remaining North American golf business consisting of Aureus menswear and Sun Ice rainwear to GlenGate Apparel, Inc. in the United States and all of its Canadian golf businesses consisting of Jean Bell ladies wear, Sun Ice Club menswear and Sun Ice rainwear to Almec Leisure Group, Ltd. have been completed.

Ms. Rempel indicated that the consummation of these transactions will complete the repositioning of Sun Ice's North American golf business that the joint venture partners have the management teams financial ability and industry knowledge to not only better serve the market and our customers, but to maximize the potential value of these businesses for Sun Ice shareholders.

To complete the repositioning of its business, Sun Ice is actively exploring joint venture possibilities for its North American Outerwear businesses, consisting of Sun Ice, XTG and Sun Ice Kids, with several well qualified potential partners.

CONTACT: Sun Ice Limited

Ms. Sylvia Rempel, 403/ 261-4780

403/ 266-7494 (FAX)

or

Sun Ice Limited

Mr. Alan J. Glazer, 203/ 256-5656

203/ 256-5670 (FAX)

or

GlenGate Apparel, Inc.

Mr. Peter Culbertson, 908/ 518-0006 (ext. 27)

908/ 518-0255 (FAX)

or

Almec Leisure Group, Ltd.

Mr. Allan Fletcher, 514/ 341-6767

514/ 341-7237 (FAX)