2008-03-16 21:10:08 -

- Global Wear, Ltd. (OTC:GLBW) announced today that it has ceased its clothing and apparel business, restructured its capital, changed its name to reflect current business operations, replaced management and has acquired a mobile marketing company.

Global Wear is disposing of its clothing and apparel business and has changed its name to Sovereign Wealth Corp. effective immediately. Sovereign Wealth

Corp. (OTC:SOVW) will position itself as an investment holding company with the main aim of providing long term growth for its investors through strategic acquisitions and partnerships, as well as, through strong organic growth in the mobile marketing field. The company's goal is to become an international growth story by providing strategy and corporate advice to its subsidiaries and to encourage profitable growth led by the strong management of each subsidiary.

Outgoing CEO, Zirk Engelbrecht, will be replaced by Michael Levinsohn, Sovereign Wealth Corp.'s incoming CEO. Mr. Engelbrecht and Mr. Levinsohn have both been appointed to the board of Sovereign Wealth Corp. Michael Levinsohn will also take up the position as Chairman of the Board.

Michael Levinsohn is a co-founder of Digital Vouchers (Pty) Ltd, a web and mobile phone based customer relationship management and loyalty program. He is also the founder of 121 Marketing (Pty) Ltd, a leading South African CRM and loyalty program solutions provider. His company's clients include some of the top brand owners in the leisure, lifestyle and entertainment industry. Prior to starting 121 Marketing (Pty) Ltd, Levinsohn was a co-founder of the company which owned the Infinity loyalty program in South Africa. Infinity was the largest privately owned program in the country and developed leading edge technology between 1999 and 2006. Mr. Levinsohn also has extensive experience at running publicly held corporations having served as CEO of three quoted companies on the Johannesburg Stock Exchange over a twenty year period. Mr. Levinsohn is also the Chief Executive Officer of Satellite Security Corporation, a mobile digital marketing company capitalizing on the fast growing cellular telephone industry, with its main operating entity being recently acquired AIMMS Co Ltd of Korea (now renamed Mobicom Korea)

Sovereign Wealth Corp. has completed the acquisition of Digital Vouchers (Pty) Ltd. in a stock for stock transaction. Sovereign Wealth Corp. acquired 100% of the outstanding shares in Digital Vouchers (Pty) Ltd for 350 Convertible Preferred shares of Sovereign Wealth Corp. The owners of the Convertible Preferred shares have the right to convert each share into 50,000 common shares. If all preferred shares are converted, the current shareholders of Digital Vouchers (Pty) Ltd will receive 17,500,000 common shares of Sovereign Wealth Corp.

Brand owners worldwide are looking for ways to measure the success of their various advertising campaigns and they are looking for ways to quantify a return on their investment. Traditional media does not enable this because there is no means of measurement. The only way that an ad campaign can be measured is through an online or mobile phone based initiative. Digital Vouchers (Pty) Ltd makes use of the Internet as an electronic brochure which communicates information about current and interesting offers. Consumers select which offer they wish to take up and a digital voucher is then delivered to their mobile phone in the form of a secure number. This number is then entered into the retailer's point of sale device when the customer wishes to take up the offer. In this way the brand owner and the retailer can track the levels of uptake of different offers, they can see which areas geographically respond better to which offers and they simultaneously build up a database of information about their clients.

According to Mr. Levinsohn, "There are many online sites that offer some form of coupon, but Digital Vouchers is a strategic marketing company that provides a platform for its clients to use, and not simply an Internet site. The value chain in the sales cycle consists of various participants, from the ad agency to the brand owner, to the retailer and to the end user, the consumer. The Digital Vouchers platform provides all of these participants with value in the form of either information or price benefits. Digital Vouchers is also unique in that the platform enables multiple brands to participate by cross selling products and services to anybody who has registered on the Digital Vouchers site. Typically leading brands in each market segment are selected in order to prevent competitive brands from having access to one another's data and or clients."

Sovereign Wealth Corp. has executed a 10 for 1 reverse stock split in accordance with the terms of the acquisition and overall restructuring. The effective date for the reverse split is March 12, 2008. There are 989,059 shares of Sovereign Wealth Corp post split and up to 18,489,059 fully diluted shares of Sovereign Wealth Corp. issued and outstanding after the Digital Vouchers acquisition and conversion of preferred for common shares.

About Sovereign Wealth Corp.

Sovereign Wealth intends providing management support to the businesses which it acquires in order to leverage the products and services of these businesses through cross selling opportunities. By identifying key components of the value chain in the mobile marketing sector, Sovereign Wealth will be able to build a portfolio of investments covering SMS and MMS services, mobile content, mobile technology, payment solutions and related electronic distribution platforms. Sovereign Wealth will also look to license technology from international companies who have established a proven business model for mobile products and services.

The market for so called 3G mobile phone products and services is expected to remain buoyant for the foreseeable future. Revenue from voice traffic is flat in many countries and Average Revenue Per User has declined significantly as penetration levels reach saturation point. It is anticipated that the majority of traffic on mobile phone networks will soon be data as opposed to voice and mobile phone networks are investing in high speed services in order to capture market share. Sovereign Wealth intends building a capital base through which it can fund investments in companies which can partner with the mobile phone networks and brand owners in order to leverage the market for these 3G products and services.

FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the digital marketing industry, grow as anticipated; the positioning of Sovereign Wealth Corp. products in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Sovereign Wealth Corp. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Neither Sovereign Wealth Corp. nor any company mentioned in this release undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Corporate Inquiries:
Sovereign Wealth Corp
Michael Levinsohn, CEO
949-554-5505
mlevinsohn@gmail.com