PSUN

Pacific Sunwear of California, Inc.

Pacific Sunwear of California, Inc. is a leading lifestyle specialty retailer rooted in the youth culture and fashion vibe of Southern California. We operate a nationwide, primarily mall-based chain of retail stores under the names “Pacific Sunwear” and “PacSun.”

The Company, a California corporation, was incorporated in August 1982. As of January 31, 2009, we leased and operated 932 stores among all 50 states and Puerto Rico, comprised of 3,587,683 square feet. At the beginning of fiscal 2008, we had operated 153 demo stores which specialized in fashion-focused streetwear apparel. On February 3, 2008, we began inventory liquidation sales in these stores and closed all our demo stores by the end of our first quarter of fiscal 2008 ended May 3, 2008. The general discussion of our business that follows focuses on our go-forward PacSun business.

At the end of fiscal 2008 and after giving effect to the cost reduction actions we announced on January 28, 2009, we had approximately 11,000 employees, of whom approximately 7,500 were part-time. Of the total employees, approximately 600 were employed at our corporate headquarters and distribution centers. A significant number of seasonal employees are hired during peak selling periods. None of our employees are represented by a labor union, and we believe that our relationships with our employees are good.

Our executive offices are located at 3450 East Miraloma Avenue, Anaheim, California, 92806; the telephone number is (714) 414-4000; and our internet address is www.pacsun.com. Through our website, we make available free of charge, as soon as reasonably practicable after such information has been filed or furnished to the Securities and Exchange Commission, our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).