PacSun Reports An October Same-Store Sales Decrease Of 1.1 Percent.

Pacific Sunwear of California today reported total sales of $42.0 million for October, an increase of 19.9 percent over sales of $35.0 million for October of fiscal 2000.

Fiscal 2001 is a 52-week year as compared with fiscal 2000, which was a 53-week year. On a proforma basis, total sales also increased 19.9 percent, comparing the 13-week period ending Nov. 4, 2001, with the 13-week period ending Nov. 5, 2000.

Company same store sales decreased 1.1 percent for the comparable four-week period ended Nov. 4, 2001 with PacSun same store sales down 1.2 percent and d.e.m.o. same store sales down 1.0 percent.

For more detailed information on October sales results, you can call 714/701-4210 to listen to a recorded commentary.

The company will hold its third quarter 2001 conference call on Monday, November12 at 1:30 p.m. Pacific Time and 4:30 p.m. Eastern Time. Pacific Sunwear will webcast their third quarter conference call live.

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The call can be accessed at the company’s Web site at www.pacsun.com at the company/investor relations area or www.streetevents.com. The call will also be archived at the above two sites for replay.

In addition, the call will be available at Yahoo! Finance. Anyone unable to listen to the Web “live” or archive of the webcast, can access a telephone replay for 48 hours following the call at 800/642-1687, ID No. 2174837.

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Total sales for the third quarter (13 weeks) of fiscal 2001 were $183.0 million, an increase of 11.8% over sales of $163.7 million for the third quarter (13 weeks) of fiscal 2000. On a proforma basis, comparing the 13-week period ending Nov. 4, 2001 with the 13-week period ending Nov. 5, 2000, the increase in total sales would have been 17.3%.

Company same store sales decreased 2.2% for the third quarter of fiscal 2001 with PacSun same store sales down 2.5% and d.e.m.o. same store sales up 1.0%.

Total sales for the first nine months (39 weeks) of fiscal 2001 were $477.2 million, an increase of 16.9% over sales of $408.3 million for the first nine months (39 weeks) of fiscal 2000.

On a proforma basis, comparing the 39-week period ending Nov. 4, 2001 with the 39-week period ending Nov. 5, 2000, the increase in total sales would have been 16.2%.

Company same store sales decreased 4.2% for the first nine months of fiscal 2001 with PacSun same store sales down 4.7% and d.e.m.o. same store sales up 2.1%.

Pacific Sunwear is a leading specialty retailer of everyday casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. As of Nov. 4, 2001, the company operated 544 PacSun stores, 67 PacSun outlet stores and 97 d.e.m.o. stores for a total of 708 stores in 48 states and Puerto Rico. PacSun’s Web site address is www.pacsun.com.

This news release may contain forward-looking statements that involve risks and uncertainties, including changes in consumer demands and preferences, fluctuations or decreases in same store sales performance, competition from other retailers and uncertainties generally associated with apparel retailing. The historical results achieved are not necessarily indicative of future prospects of the company.

More information on factors that could affect forward looking statements and the company’s financial results is included in the company’s Report on Form 10-K for the year ended Feb. 4, 2001 and subsequent periodic reports filed with the Securities and Exchange Commission.