Trading Statement

18 October 2010

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

Trading Update

Global Brands S.A., an international business developing branded food operations in Europe, including being the master franchise owner for Domino's Pizza in Switzerland, Luxembourg and Liechtenstein, is pleased to announce a trading update for the third quarter ended 30th September 2010.

Revenues have continued to show strong growth. Compared to the same months last year, like-for-like sales in the three months to 30th September 2010 were up:

July + 25.9%

August + 27.6%

September + 26.3%

As a result, like-for-like sales for the third quarter were up 26.6% compared to the same period last year. For the nine months from January to September, like-for-like sales were up 19% on the same period in 2009.

In addition, the Company's cost containment programme is starting to be reflected in the overall financial performance and the Company has moved significantly closer to being cash generative. On a quarterly basis, the EBITDA loss has improved from CHF 583.1k in Q2 to a loss of CHF 425k in Q3. On a monthly basis, the EBITDA loss has improved from a loss of CHF 238k in February 2010 to a loss of CHF 197k in July, followed by a loss of CHF 131k in August 2010 and a loss of CHF 97k in September 2010.

Bruce Vandenberg, CEO said:

"We are delighted to be able to report a strong and continued improvement in our performance. Over the last eighteen months, the entire team has put an enormous amount of effort into turning the business around, and the results are starting to reflect this. We are confident of further improvements in our core business, particularly as we implement our sub-franchising strategy".

ENDS

For further information:

Global Brands S.A.

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

Bruce Vandenberg, CEO www.globalbrands.ch

ZAI Corporate Finance Ltd

Marc Cramsie Tel: (0) 20 7060 2220

www.zaicf.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 http://www.fd.com