Lifetime Hoan Announces License Agreement With KitchenAid Home Appliances

WESTBURY, N.Y.--(BUSINESS WIRE)--Oct. 16, 2000--LIFETIME HOAN CORPORATION (NASDAQ NM:LCUT): a leading marketer of housewares, today announced it has signed a licensing agreement with KitchenAid(R), a division of the Whirlpool Corporation (NYSE:WHR), to design, manufacture and market an extensive range of kitchen utensils under the KitchenAid brand name. The new line of products will be unveiled in Chicago in January 2001 at the International Housewares Show.

Jeffrey Siegel, President of Lifetime Hoan Corporation, commented, "We are very proud that KitchenAid has selected Lifetime Hoan as its exclusive licensee for kitchen utensils. Our proven track record in leveraging well-known brand names joined with KitchenAid's stellar reputation will be a powerful combination."

Mr. Siegel continued, "As we have done so successfully with Lifetime Hoan's existing brands, we will augment the KitchenAid product line with innovative designs featuring new technologies and new materials. Our plan is to add 60-100 KitchenAid SKU's to our product mix beginning in January 2001, with the ultimate goal of offering more than 300 SKU's. The line will set a new standard for the industry and will be an outstanding complement to our other premium brands, which include Farberware(R) and Hoffritz(R)."

"By combining new manufacturing technologies and materials with distinctive KitchenAid design, these new gadgets and utensils will offer unprecedented functionality and style," said Brian Maynard, Director of Integrated Marketing Communications for KitchenAid. "Like our kitchen appliances, cookware and cutlery, these newest KitchenAid products are designed, first and foremost, to help those with a passion for cooking achieve great results."

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., including Bed Bath & Beyond, Wal-Mart, Kmart, Target, Macy's and Dayton Hudson.

Established in 1919 with the introduction of its legendary stand mixer, KitchenAid offers a range of beautifully designed products for the kitchen and home, including premium major appliances for cooking, refrigeration, kitchen clean-up and laundry, a full line of stylish countertop appliances, and professional quality cookware and cutlery.

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.

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