Fay Ray were sometimes lazily compared to Siouxsie and the Banshees, another British new wave band with a female lead singer. However, they sounded quite different from Siouxsie, with a strong pop sense folded into their new wave sound. This could have made them quite successful, had things broken their way a bit more.
The band released their debut album, Contact You, in 1982, but it did not chart. They did make a couple of videos, and even picked up a bit of airplay on MTV. However, Elektra/Warner dropped the band after the recording of their second LP, and refused to release the master tapes (!). Fay Ray broke up soon afterwards, although they have re-formed in the early 2000's and are still occasionally active as of this writing.
"Modern Lovers" was off Contact You, and is a great driving new wave song with a cheap and colorful video to boot. File this one under rare and really good.