Lifetime Brands Plans Expansion in Pantryware through Acquisition of Pomerantz and Design for Living Brands

GARDEN CITY, N.Y.--(BUSINESS WIRE)--March 8, 2007--Lifetime Brands, Inc. (Nasdaq: LCUT), a leading designer, developer and marketer of nationally branded consumer products for the home, today announced it has entered into a letter of intent to acquire the Pomerantz(R) brand and certain related assets from JP Products, LLC. JP Products, LLC will continue in its existing furniture business. In a separate transaction, Lifetime has entered into a letter of intent to acquire the Design for Living(R) brand and certain assets from Design for Living LLC.

Jeffrey Siegel, Chairman, President and Chief Executive Officer, commented, "Pantryware has been an attractive area for Lifetime since we entered the category in 2000 through our acquisition of M. Kamenstein, Inc. Pomerantz has long been respected in the trade as a highly regarded innovator and marketer. Design for Living is a relatively new company with several advanced design housewares products featuring exciting new technologies. Both companies will help us expand our presence by bringing more innovative products to market under brands that consumers know and value. In addition, we are pleased that two key employees will be joining Lifetime to help us take full advantage of the opportunities these acquisitions offer.

Terms of the acquisitions were not announced. Lifetime expects both acquisitions to close by the end of the month and to be nominally accretive for 2007.

Lifetime Brands is a leading designer, developer and marketer of kitchenware, cutlery & cutting boards, bakeware & cookware, pantryware & spices, tabletop, home decor, picture frames and bath accessories. The Company markets its products under some of the country's best known brands, including Farberware(R), KitchenAid(R), Pfaltzgraff(R), Cuisinart(R), Block(R) China and Crystal, Calvin Klein(R), CasaModa(R), Cuisine de France(R), Hoffritz(R), International Silver(R), Joseph Abboud(R), Kamenstein(R), Melannco(R), Nautica(R), Pedrini(R), Rochard(R), Roshco(R), Sabatier(R), Sasaki(R), Towle(R) Silversmiths, Tuttle(R), Wallace(R), and :USE(R). Lifetime's products are distributed through almost every major retailer in the United States.

The information herein contains certain forward-looking statements including statements concerning the Company's future prospects. These statements involve risks and uncertainties, including risks relating to general economic conditions and risks relating to the Company's operations, such as the risk of loss of major customers and risks relating to changes in demand for the Company's products, as detailed from time to time in the Company's filings with the Securities and Exchange Commission.

CONTACT:
Lifetime Brands, Inc.
Christian G. Kasper, 617-568-8148
Senior Vice President
chris.kasper@lifetimebrands.com
or
Investor Relations:
Lippert/Heilshorn & Associates, Inc.
Harriet Fried, 212-838-3777
hfried@lhai.com

SOURCE: Lifetime Brands, Inc.