OTHER NEWS - Jan. 23, 1992

Ocean Pacific May Be Sold: Ocean Pacific Sunwear Ltd., a licenser and manufacturer of surf wear, said that it has agreed to sell the company to a West Coast investment group. Financial terms of the deal and the identity of the buyer were not disclosed. The agreement, which is conditional, is not expected to close for another month, said Mike Balmages, senior executive vice president for Tustin-based Ocean Pacific. OP has annual sales of about $300 million under the brands Ocean Pacific, Newport Blue, Jimmy ‘Z and Hydrolight.