Lifetime Hoan Announces Strategic Alliance with Fackelmann

WESTBURY, N.Y.--(BUSINESS WIRE)--Nov. 15, 2002--Lifetime Hoan Corporation (Nasdaq NM: LCUT), a leading marketer of housewares, today announced a strategic alliance with Fackelmann GmbH + Co. KG, a European-based manufacturer of household goods, to augment each of their product portfolios and to jointly develop and source products.

The two firms will also work together on marketing initiatives to global accounts and will share best marketing practices to maximize their businesses at the retail level.

Jeffrey Siegel, president and chief executive officer, commented, "Our strategic alliance with Fackelmann opens up many new areas of opportunity for Lifetime. By collaborating on product design, we will be better able to develop products that are suitable for both the European and the American markets. By sourcing products jointly, we will enable our subcontractors to improve production efficiencies and thus reduce our product acquisition costs.

"Under the terms of our alliance, Lifetime will have distribution rights in North America, while Fackelmann will have distribution rights in continental Europe. Our two firms will coordinate our marketing efforts to global accounts, which, in today's world, constitute a growing number of customers. This will help us market our products to these important customers more effectively. We will also work together to determine best practices, including advanced electronic plannogramming, store servicing disciplines, and efficient retail displays. The application of these practices will enable us to improve our operations and maximize our business at retail."

Mr. Siegel concluded, "Fackelmann's strengths and interests coincide closely with those of Lifetime Hoan. We look forward to the many benefits this multi-faceted agreement can offer both our companies."

Lifetime Hoan Corporation is a leading designer, marketer, manufacturer, and distributor of household cutlery, kitchenware, cutting boards, pantryware, spices, 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.

Founded in 1949 by Sebastian Fackelmann, Fackelmann GmbH + Co. KG is a leading manufacturer of household goods and bathroom furniture worldwide. Headquartered in Hersbruck, Germany, the company employs approximately 1,000 people in 16 locations in Germany, France, Italy, Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Bulgaria, Turkey and China. Annual sales total approximately $170 million.

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.