Finalisation of Acquisition of Pagonia Holding AG

3 March 2011

Global Brands S.A. ("Global Brands" or "the Company")

Finalisation of the Acquisition of

Pagonia Holding AG ("Pagonia")

Further to the announcement on 31 December 2010, Global Brands announces that the Vendors of Pagonia ("the Vendors") have failed to meet the deadline of 28 February 2011 to deliver a new location for the Liestal sub-franchise. Consequently, there will be no further payment over the value that was paid to Vendors on completion (31 December 2010), namely:

CHF 488,800 paid in cash

6,380,800 shares issued to the Vendors

It was a condition that a new and improved location for the Liestal sub-franchisee would be secured and ready for trading before the end of February 2011. Accordingly, the Company and the Vendors agreed that the Company would retain 20% of the consideration until 28 February 2011, with final payment being subject to the delivery of the new location. Had the new location been delivered the Company would have made a further payment to the Vendors of:

CHF 122,200 in cash

The issue of a further 1,595,200 shares to the Vendors

As the Vendors have failed to meet the deadline, this final payment will now not be made.

As a result, the Board is currently reviewing the options for this franchisee and will make a decision in due course.

Bruce Vandenberg, CEO said:

"Finding a new location in Liestal was always an important condition of the agreement for us. It is essential to trade from good locations and we always want to ensure that we set ourselves and our franchisees up for success. We intentionally retained 20% of the consideration in order to protect shareholder value in the event that a new suitable location was not found. We will take the necessary time to evaluate the opportunities in Liestal with our franchisee, now that the vendors failed to provide a location.

"It is worth noting that the acquisition of these sub-franchise stores, rather than incremental growth on a store-by-store basis, has ensured that we are ready to support multiple sub-franchisees in a much shorter time frame. We are now operationally prepared to add additional sub-franchisees at a rapid rate. I am confident that we will add at least 6 new sub-franchise stores in 2011. This is well on our way to achieving our target of 50 stores by the end of 2014."

ENDS

For further information:

Global Brands S.A.

Simon Bentley, Chairman Tel: (0) 20 7317 8022

www.globalbrands.ch

Libertas Capital Tel: (0) 20 7569 9650

Thilo Hoffmann www.libertascapitalpartners.com

Alexander David Securities Ltd

Bill Sharp Tel: (0) 20 7448 9820

Fiona Kinghorn Tel: (0) 20 7448 9832

www.ad-securities.com

Financial Dynamics

Jonathon Brill Tel: (0)20 7831 3113

Caroline Stewart www.fd.com

Notes to Editors:

Global Brands is a public company incorporated under the laws of Luxembourg and established in 1999. The company has been admitted to trading on the AIM of the London Stock Exchange since 2005.

The Company is the owner and operator of the exclusive master franchise of Domino's Pizza in Switzerland, Luxembourg and Liechtenstein. Domino's Pizza is the world's leading pizza delivery brand, with over 9,100 stores in 64 markets.

Global Brands SA's stated strategy is to add additional international brands to its portfolio.