Lifetime Brands Announces WearEver Accepts Higher Bid

WESTBURY, N.Y.--(BUSINESS WIRE)--Aug. 7, 2006--Lifetime Brands, Inc. (Nasdaq: LCUT), a leading designer, developer and marketer of a broad range of nationally branded consumer products used in the home, today announced that it was not the successful bidder in the auction to acquire certain assets comprising the WearEver cookware and bakeware businesses of Global Home Products LLC. A higher bid was accepted.

Lifetime is a leading designer, marketer and distributor of kitchenware, cutlery & cutting boards, bakeware & cookware, pantryware & spices, tabletop, home decor, picture frames and bath accessories, marketing its products under various trade names, including Farberware(R), KitchenAid(R), Pfaltzgraff(R), Calvin Klein(R), Cuisinart(R), Hoffritz(R), Sabatier(R), Nautica(R), Joseph Abboud Environments(R), Roshco(R), Baker's Advantage(R), Kamenstein(R), CasaModa(TM), :USE(R), Pedrini(R), International Silver(R), Towle(R), Tuttle(R), Wallace(R), Melannco(R), Rochard(R) and Kenneth Cole Reaction(R). Lifetime's products are distributed through almost every major retailer in the United States.

    CONTACT: Lifetime Brands, Inc.
             Robert McNally, 516-683-6000
             or
             Lippert/Heilshorn & Associates, Inc.
             Investor Relations:
             Harriet Fried, 212-838-3777
             hfried@lhai.com

    SOURCE: Lifetime Brands, Inc.