PNGB Panglobal Brands Inc (CE)

Panglobal Brands, Inc. (OTCBB:PNGB) has appointed Charles Lesser as Chief Financial Officer. From September 2003 to September, 2007, Charles Lesser was the Chief Financial Officer and a consultant to True Religion Apparel, Inc. and its wholly-owned subsidiary, Guru Denim Inc. While at True Religion Apparel, Inc., he helped grow the premium jeans manufacturer from a start-up venture to $140 million in sales revenue and a $500 million market capitalization. Mr. Lesser was CFO for True Religion from its initial merger with a public shell company through to a NASDAQ national market listing. He assisted True Religion to establish an independent board of directors and implement required corporate governance standards. By the time he left True Religion, Mr. Lesser had created an investor relations program, organized extensive road shows, both in the U.S. and in Europe, and presented at investor conferences resulting in over one hundred institutional shareholders and a series of Wall Street firm�s analysts providing research coverage on the company. Prior to True Religion Apparel, Mr.�Lesser was Acting President and a Director of Alpha Virtual Inc., a software development company listed on the OTCBB and Chief Financial Officer and a Director of CBCom, Inc., an internet service provider listed on the OTCBB. Mr. Lesser noted, �I have been at PNGB for six months and believe that our strategy of having a series of diversified apparel brands is beginning to create revenue opportunities for us within each of our product lines. Initially, our brands consist mainly of women�s apparel, but we have expertise to be able to grow into men�s and kid�s apparel.� �Charles has terrific experience helping True Religion Apparel grow from a start-up apparel venture into a highly-successful Nasdaq company. We are excited to have him as a part of our management team at Panglobal Brands, Inc.�, said Stephen Soller, Chief Executive Officer. About Panglobal Brands Inc. Panglobal Brands, Inc. is committed to building a diverse stable of apparel brands, capitalizing on opportunities to participate in the hottest fashion trends as they happen. Our business strategy is to create a balance with dynamic branded products and the traditionally more stable private label apparel business by selling branded products through specialty retailers and by running a private label division catering to department store chains. Our current brands include: Mynk, a high-end, high-fashion denim brand selling at specialty retailers and Saks 5th Avenue; Nela, an upscale contemporary print dress label; Tea & Honey, a casual ladies wear collection that�s ready to burst onto the scene later this year; and, So Sik, which represents affordable fashions for the burgeoning junior market. This strategy plus a management team with significant apparel industry experience, enables Panglobal Brands to bring eye-popping product lines to market at competitive price points. Forward-Looking Statements This news release contains �forward-looking statements.� Statements in this press release, which are not purely historical, are forward-looking statements and include statements concerning the Company�s business outlook or future economic performance, anticipated revenues, expenses or other financial items; product introductions and plans and objectives related thereto; and assumptions or expectations relating to any future events, conditions, performance or other matters. Such forward-looking statements include, among others, that: we are building a diverse stable of apparel brands, capitalizing on opportunities to participate in the hottest fashion trends as they happen; that we can create a balance with dynamic branded products and the traditionally more stable private label apparel business through specialty retailers and by running a private label division catering to department store chains; and that we will be able to grow into men�s and kid�s apparel. Forward-looking statements are subject to risks, uncertainties and factors include, but are not limited to, the nature of the apparel industry, including changing customer demand and tastes, seasonality, customer acceptance of new products, the impact of competitive products and pricing, dependence on existing management, general economic condition. We may not be able to offer fashion that sells to intended customers; we may not be able to access sufficient capital to carry out our business plan; we may not be able to grow into men�s and kid�s apparel; we may not be able to attract and retain key employees; and our industry is extremely competitive and can change at any time. Readers should also refer to the risk disclosures outlined in the Company�s quarterly reports on Form 10-QSB, annual reports on Form 10-KSB and the Company�s other disclosure documents filed from time-to-time with the Securities and Exchange Commission available at www.sec.gov. The Company assumes no obligation to update the information in this release.