21 October 2009

Global Brands S.A. (the "Company")

Holdings in Company

City Equities Limited acquired 8,333,333 ordinary shares in the Company ('Ordinary Shares'), pursuant to the placing announced to the market on 15 October 2009. This holding represented 9.37% of the total number of shares in issue and 9.37% of the total voting rights in the Company. On 20 October 2009, City Equities Limited notified the Company that it had sold 8,333,333 ordinary shares to certain clients with City Equities Limited acting as Principal. City Equities Limited no longer holds any Ordinary Shares and therefore no longer holds a notifiable interest in the Company.

The total number of voting rights of the Company are 88,946,550 ordinary shares.

For further information contact:

Global Brands S.A.

Simon Bentley, Senior Non-Executive Director        Tel: (0) 20 7317 8022 
                                                                                    www.globalbrands.ch

ZAI Corporate Finance Ltd

David Newton                                                               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
Nick Bealer                                                                    Tel: (0) 20 7448 9820