PacSun board rejects Adrenalina offer

I'm dashing off to a meeting, but here's the press release from PacSun rejecting the offer...I'll bring you other developments today as warranted.

Pacific Sunwear of California Rejects Adrenalina's Unsolicited Proposal
Tuesday October 21, 12:15 pm ET

ANAHEIM, Calif., Oct. 21, 2008 (GLOBE NEWSWIRE) -- Pacific Sunwear of California, Inc. (NasdaqGS:PSUN - News), announced today that its board of directors has determined that the unsolicited proposal received from Adrenalina (OTC BB:AENA.OB - News), a retail-entertainment company currently operating three stores in Florida, to purchase all of the issued and outstanding shares of common stock of Pacific Sunwear is not in the best interests of the Company's shareholders.