Lifetime Brands Amends Credit Agreement

GARDEN CITY, N.Y.--(BUSINESS WIRE)--Mar. 31, 2009-- Lifetime Brands, Inc. (NASDAQ: LCUT), North America's leading resource for nationally branded kitchenware, tabletop and home décor products, today announced it successfully completed an amendment to its bank credit facility.

The amendment will be included as an exhibit to the Company's Annual Report on Form 10-K, which will be filed later today.

Jeffrey Siegel, Chairman, President and Chief Executive Officer, commented, “We expect economic conditions to remain challenging during all of 2009; however, we remain optimistic that the initiatives we have undertaken to increase market share, cut expenses and consolidate distribution centers should enable us to operate profitably in 2009. Our portfolio of well-known and respected brands, together with our commitment to innovation, should position the Company for a strong recovery when the economy improves.”

The Company will hold a conference call on Thursday, May 7, 2009, following the release of its first quarter financial results. Details regarding the conference call will be provided prior to the event.

Forward-Looking Statements

In this press release, the use of the words "expect," "will," "may," "would," "could," "should," "position" or similar expressions is intended to identify forward-looking statements that represent the Company’s current judgment about possible future events. The Company believes these judgments are reasonable, but these statements are not guarantees of any events or financial results, and actual results may differ materially due to a variety of important factors. Such factors might include, among others, the Company’s ability to maintain adequate liquidity and financing sources and an appropriate level of debt; changes in general economic conditions which could affect customer payment practices or consumer spending; the impact of changes in general economic conditions on the Company’s customers; changes in demand for the Company’s products; shortages of and price volatility for certain commodities; significant changes in the competitive environment and the effect of competition on the Company’s markets, including on the Company’s pricing policies, financing sources and an appropriate level of debt.

Lifetime Brands, Inc.

Lifetime Brands is North America’s leading resource for nationally branded kitchenware, tabletop and home décor products. The Company markets its products under many of the industry’s best known brands, including Farberware®, KitchenAid®, Pfaltzgraff®, Mikasa®, Cuisinart®, Block®, Calvin Klein®, CasaModa®, Cuisine de France®, Gorham®, Hoffritz®, International® Silver, Joseph Abboud™, Kamenstein®, Kirk Stieff®, Melannco®, Nautica®, Pedrini®, Roshco®, Sabatier®, Sasaki®, Towle® Silversmiths, Tuttle®, Wallace® and Vasconia®. Lifetime’s products are distributed through most major retailers in North America.

Source: Lifetime Brands, Inc.

Lifetime Brands, Inc.
Laurence Winoker, 516-203-3590
Chief Financial Officer
investor.relations@lifetimebrands.com
or
Lippert/Heilshorn & Assoc.
Harriet Fried, 212-838-3777
Vice President
hfried@lhai.com