Wallace did not want to discuss financial details, but said it would be a raise over his last contract, which paid him a base salary of $210,000 per season.

Wallace said his agent, New York-based Jordan Bazant, handled the negotiations.

"I liked what he showed me and so I agreed to it," said Wallace, 63. "You never know what can happen after that, but I'll be 65 in two years, and we'll see how I feel then."

Wallace's current three-year contract will expire at the end of this month.

He has been the head coach of the Rainbow Warriors for the past 18 seasons. His career record at UH is 299-241. No other men's basketball coach in UH history has more than 112 victories.

Wallace's UH teams have finished with winning records in 14 of his 18 seasons, including a 16-13 record last season.

Several potential recruits are expected to visit Wallace and UH over the next two weeks. Today is the first day of the "late" period for new recruits to sign national letters of intent.

Hiram Thompson, a 6-foot-4 point guard at Oak Ridge High (Calif.), already has made an oral commitment to sign with Hawai'i, and is expected to send his letter of intent to UH this week. Wallace said he would like to add three more recruits to the roster.

Among the top players returning next season are Julian Sensley, "Little Matt" Gibson, "Big Matt" Gipson, Chris Botez and Bobby Nash.

The team's annual awards banquet will be held tomorrow night at the Hawai'i Prince Hotel. For ticket information, call 956-6501.