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                                                                   EXHIBIT 10.29

                                SECOND AMENDMENT


         THIS SECOND AMENDMENT (this "Amendment") is entered into as of March
14, 2003 by and among SVI SOLUTIONS, INC., a Delaware corporation (the
"Company"), KOYAH LEVERAGE PARTNERS, L.P., a Delaware limited partnership
("Koyah Leverage"), KOYAH PARTNERS, L.P., a Delaware limited partnership
("Koyah") and RAVEN PARTNERS, L.P., a Delaware limited partnership ("Raven").

         WHEREAS, pursuant to the Amendment Agreement dated as of July 15, 2002
by and among the Company, Koyah Leverage, Koyah, Raven and certain other parties
(the "Amendment Agreement"), (i) the Company made a Convertible Promissory Note
dated July 19, 2002 in the principal amount $937,500 in favor of Koyah Leverage,
a Convertible Promissory Note dated July 19, 2002 in the principal amount of
$187,500 in favor of Koyah and a Convertible Promissory Note dated July 19, 2002
in the principal amount of $125,000 in favor of Raven (collectively, the
"Original Notes") and (ii) the Company entered into an Investors' Rights
Agreement dated as of July 19, 2002 with Koyah Leverage, Koyah, Raven and
certain other parties (the "Original Investors' Rights Agreement");

         WHEREAS, pursuant to the First Amendment dated as of December 5, 2002
among the Company, Koyah Leverage, Koyah and Raven, the Company was granted
certain extensions under the Notes and the Investors' Rights Agreement (the
Original Notes and the Original Investors' Rights Agreement, as so amended,
being referred to herein as the "Notes" and the "Investors' Rights Agreement");

         WHEREAS, the Company has requested that Koyah Leverage, Koyah and Raven
grant the Company certain further extensions under the Notes and the Investors'
Rights Agreement;

         WHEREAS, in connection therewith, the parties desire to make certain
amendments to the Notes and Investors' Rights Agreement on the terms and
conditions set forth herein;

         WHEREAS, the Investors' Rights Agreement may be amended with the
consent of the Company and the holders of 50% of the Registrable Securities (as
defined in the Investors' Rights Agreement) under Section 3.07 of the Investors'
Rights Agreement and Koyah Leverage, Koyah and Raven are holders of more than
50% of the Registrable Securities;

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
of the parties, the parties do hereby agree as follows:

         1. EXTENSION OF REGISTRATION STATEMENT EFFECTIVE DATE UNDER THE NOTES.
The date contained in Section 13(d) of each Note for effectiveness of the
registration statement contemplated by Section 1.3 of the Investors' Rights
Agreement hereby is extended to March 31, 2003.

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         2. EXTENSION OF REGISTRATION STATEMENT FILING DATE UNDER THE INVESTORS'
RIGHTS AGREEMENT. The date contained in Section 1.3(a) of the Investors' Rights
Agreement for filing of the registration statement contemplated by Section 1.3
of the Investors' Rights Agreement hereby is extended to an indefinite date,
subject however to such registration statement becoming effective by the date
set forth below in Section 3 of this Amendment.

         3. EXTENSION OF REGISTRATION STATEMENT EFFECTIVE DATE UNDER THE
INVESTORS' RIGHTS AGREEMENT. The date contained in Section 1.3(c) of the
Investors' Rights Agreement for effectiveness of the registration statement
contemplated by Section 1.3 of the Investors' Rights Agreement hereby is
extended to March 31, 2003.

         4. EXTENSION OF RELATED DATES UNDER THE INVESTORS' RIGHTS AGREEMENT.
The dates contained in Section 1.3(d) and (e) of the Investors' Rights Agreement
for effectiveness of the registration statement contemplated by Section 1.3 of
the Investors' Rights Agreement hereby are correspondingly extended as a result
of the extension set forth above in Section 3 of this Amendment.

         5. EXPENSES. Promptly upon request, the Company shall pay the legal
fees and expenses of Paine, Hamblen, Coffin, Brooke & Miller LLP as counsel for
ICM (as defined in the Amendment Agreement) incurred in connection with the
preparation and negotiation of this Amendment.

         6. CONTINUED FORCE AND EFFECT. Except as specifically amended or
modified by this Amendment, the Notes and the Investors' Rights Agreement shall
remain unchanged. The Notes and the Investors' Rights Agreement, as amended or
modified by this Amendment, shall remain in full force and effect.

         7. ENTIRE AGREEMENT. This Amendment contains the entire agreement of
the parties with respect to the subject matter hereof and supersedes all prior
negotiations, understandings, agreements or arrangements with respect to such
subject matter.




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                  ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND
                  CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE
                  NOT ENFORCEABLE UNDER WASHINGTON LAW.

         IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed by their respective officers or agents thereinto duly authorized, as of
the date first above written.

                                    "COMPANY"

                                    SVI HOLDINGS, INC.

                                    By:
                                             -----------------------------------
                                    Name:    Barry Schechter
                                    Title:   Chief Executive Officer


                                    "INVESTORS"

                                    KOYAH LEVERAGE PARTNERS, L.P.

                                    By:  Koyah Ventures LLC, its general partner

                                    By:
                                             -----------------------------------
                                    Name:
                                             -----------------------------------
                                    Title:
                                             -----------------------------------


                                    KOYAH PARTNERS, L.P.

                                    By:  Koyah Ventures LLC, its general partner

                                    By:
                                             -----------------------------------
                                    Name:
                                             -----------------------------------
                                    Title:
                                             -----------------------------------


                                    RAVEN PARTNERS, L.P.

                                    By:  Koyah Ventures LLC, its general partner

                                    By:
                                             -----------------------------------
                                    Name:
                                             -----------------------------------
                                    Title:
                                             -----------------------------------

                      [Signature Page to Second Amendment]


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