Lifetime Hoan Acquires Gemco Ware

WESTBURY, N.Y., Dec 1, 2003 (BUSINESS WIRE) -- LIFETIME HOAN CORPORATION (Nasdaq:LCUT), a leading marketer of housewares, today announced it has acquired the assets of Gemco Ware, Inc., a provider of glassware products for storing and dispensing food and condiments.

Jeffrey Siegel, chairman and chief executive officer, commented, "Gemco's well-established customer base and strong product line provide an excellent opportunity for Lifetime Hoan to expand our business with our largest customers. Equally important, our purchase of Gemco's assets will enable Gemco Ware to continue to ship its principal customers on a timely basis."

"Looking forward," Mr. Siegel continued, "we expect Lifetime Hoan's highly regarded in-house product design capability to establish Gemco as a leading resource for innovative glassware products."

Gemco Ware filed for bankruptcy protection under Chapter 7 in November 2003.

Lifetime Hoan Corporation is a leading designer, marketer and distributor of household cutlery, kitchenware, cutting boards, pantryware and bakeware, marketing its products under various trade names including Farberware(R) and Hoffritz(R). Through the use of various brand names, Lifetime Hoan's products are distributed through almost every major retailer in the U.S.

Gemco Ware is a 55-year-old supplier of glassware and housewares located in Hauppauge, New York. The Gemco name has long been associated with classic-style oil and vinegar cruets, sugar dispensers, pourers, salt and pepper shakers and related products.

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.

SOURCE: Lifetime Hoan Corporation

Lifetime Hoan Corporation
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