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GT Legend Automotive: GT Legend Automotive Announces Signing Binding Memorandum of Understanding to Acquire Sovereign Card Serv

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^{Published in Business and Finance on Friday, September 11th 2009 at 13:32 GMT by Market Wire}  

FULLERTON, CA--(Marketwire - September 11, 2009) - GT Legend Automotive Holdings Inc. (PINKSHEETS: [ GTLA ]) announces that it has signed a binding letter of intent to acquire Sovereign Transfer Services Corporation, trading as Sovereign Card Services. Sir Michael Burton-Prateley, Executive Chairman of Sovereign, will join the GTLA board with immediate effect.

A Director of GTLA said, "We are pleased to announce that we have signed a binding Memorandum of Understanding to acquire Sovereign Transfer Services Corporation. We will now work to complete the acquisition in a timely manner and look forward to building the Sovereign business worldwide."

Sir Michael Burton-Prateley, Executive Chairman of Sovereign, said, "We are delighted to announce the signing of this Binding Memorandum of Understanding and look forward to working with the GTLA management team to roll out our business development strategy. Sovereign's suit of products and services addresses a very substantial domestic and international market, which we intend to fully address."

About GT Legend Automotive Holdings Inc.

GT Legend Automotive Holdings Inc. is a Nevada corporation developed to meet the growing needs of the ever-changing automobile after market and to introduce a patent pending "Green Energy" conversion for cars and trucks, that is expected to increase mileage while adding horsepower and reducing emissions. With a combined 40 plus years in the industry, the management of the company are forward thinkers who see the challenges within the industry and have not only kept up with the changes but are on the cutting edge of technology and innovation.

About Sovereign Card Services Inc.

Sovereign Card Services provides both VISA and MasterCard, secure, full service debit cards, providing cardholders with ready access to cash at millions of ATMs worldwide and which enable cardholders to conveniently pay for purchases at retailers everywhere. In addition Sovereign cards provide secure, low cost, convenient transfer of funds to relatives and loved ones through Sovereign's "Companion Card" program. Sovereign Debit Cards are easy to load, whether by cash, direct deposit, wire transfer or money order. For more information, visit [ www.sovereigncardservices.com ].