For immediate release                            

Global Brands S.A.(the 'Company')

Results of General Meeting

At the duly convened General Meeting held yesterday at the registered office of the Company the resolution to dismiss Mr. Yair Hasson and Mr. Amir Hasson from the Board of the Company was passed by a majority of the votes cast. Accordingly, Mr Yair Hasson and Mr Amir Hasson are no longer Directors of the Company.

The Directors wish to announce that, following an internal re-organisation, the name of the Company's nominated adviser has changed from Zimmerman Adams International Limited to ZAI Corporate Finance Ltd with immediate effect.

For further information contact:

Global Brands S.A.

Simon Bentley, Senior Non-Executive Director        Tel: (0)20 7726 7010

                                                                                                       www.globalbrands.ch

ZAI Corporate Finance Ltd

Thilo Hoffman                                                                         Tel: (0)20 7060 1760

Charity Walmsley                                                                  Tel: (0)20 7060 1760

                                                                                                       www.zimmint.com

Alexander David Securities Ltd

David Scott                                                                               Tel: (0)20 7448 9830

                                                                                                       www.ad-securities.com