Subscription by the Solidarity Fund QFL to an Unsecured Debenture of Groupe Bikini Village Inc. for an Amount of $2,000,000

Market Wire, October, 2008

Groupe Bikini Village inc. (TSX: GBV) (the "Corporation") announces today the subscription by the Solidarity Fund QFL (the "Fund") to an unsecured convertible debenture in the nominal amount of $2,000,000. This subscription is in addition to the $2,500,000 subscribed by the Fund on May 25, 2007 to an unsecured convertible debenture. It is made under the same terms and conditions and completes the $4,500,000 commitment made by the Fund on May 25, 2007.

This debenture must be bought back by the Corporation in 60 equal monthly payments, starting July 1, 2009. As of June 1, 2009, the Fund may convert them into common shares of the Corporation, at the conversion rate of $0.20 per share. In case of default or change of control of the Corporation, the Fund may convert them at a possibly more advantageous rate.

This additional investment will allow the Corporation to finance its ongoing expansion and renovation plan as well as its working capital needs, and will also give it the capacity of seizing opportunities that may arise. "We are proud of relying on the confidence shown by the Solidarity Fund QFL in the implementation of our strategic plan" said Yves Simard, President and Chief Executive Officer of the Corporation.

ABOUT THE SOLIDARITY FUND QFL

With net assets of over $7.3 billion, the Solidarity Fund QFL is a development capital company that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Quebec's economic growth. The Fund is a partner, either directly or through its network members, in 1,881 companies. It currently has nearly 575,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and support over 126,000 jobs. For more information, visit www.fondsftq.com

ABOUT GROUPE BIKINI VILLAGE INC.

Groupe Bikini Village inc., serving Canadians for almost a quarter-century, is a leading swimwear retailer with a network of new and renovated boutiques across Eastern Canada. In its bright and inviting stores with comfortable change rooms and knowledgeable staff, Groupe Bikini Village inc. helps its customers choose from among Canada's widest selection of swimsuits, beach accessories, and cruisewear, in the most popular brands the industry has to offer and styles to suit every figure. Headquartered in Ste-Julie, Quebec, Groupe Bikini Village inc. operates 59 stores and employs approximately 500 people; its securities trade on the Toronto Stock Exchange under the stock symbol GBV. For more information about Groupe Bikini Village inc., please visit our website at www.bikinivillage.com .

Forward-looking statements

This news release contains certain forward-looking statements concerning Groupe Bikini Village inc.'s future operations, economic performance, financial conditions and financing plans. These statements are based on certain assumptions and analyses made by management in light of their experience and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate under the circumstances. However, whether actual results and developments will conform to management's expectations and predictions is subject to a number of risks, uncertainties and assumptions. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by management will be realized or, even if substantially realized, that they will have the expected consequences or effects on the Company. Management undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable law.

Contacts: Groupe Bikini Village inc. Yves Simard President and Chief Executive Officer 450-449-1310 ext 4797 ysimard@bikinivillage.com