Lifetime Brands Acquires Tabletop Assets from Salton; Acquisition Adds Premium Brands and Extends Lifetime's Distribution to Fine China and Crystal

WESTBURY, N.Y., Sep 19, 2005 (BUSINESS WIRE) -- LIFETIME BRANDS, INC. (NASDAQ NM: LCUT), a leading designer, marketer and distributor of nationally branded consumer products for the home, today announced that it had acquired certain tabletop assets from Salton, Inc. (NYSE:SFP). The purchase price was approximately $14.2 million.

The assets include Salton's Block(R) and Sasaki(R) brands, licenses to market Calvin Klein(R) and NapaStyle(TM) tabletop products and distribution of upscale crystal products under the Atlantis(R) brand. In addition, Lifetime entered into a new license with Salton to market tabletop products under the Stiffel(R) brand. Net sales related to the acquired assets were approximately $20 million for the twelve months ended June 30, 2005.

Starting with its acquisition of certain assets from Excel Importing Corp. in July 2004, Lifetime Brands has become a key resource within the tabletop product category. This strategy was further augmented by its acquisition of certain assets of The Pfaltzgraff Co. in July 2005. This latest purchase extends Lifetime's distribution to the fine china and crystal categories.

Jeffrey Siegel, Lifetime's Chairman, President and Chief Executive Officer, stated, "We are very excited about the potential that these well-known tabletop names bring to Lifetime's powerful portfolio of brands. This acquisition is an important step in our plan to elevate our tabletop division to a preeminent position within the industry."

"The Calvin Klein(R) and Atlantis(R) brands give Lifetime a prestigious presence in the better tabletop business," added Mr. Siegel. "In addition, Block(R), Sasaki(R) and Stiffel(R) complement our centerpiece Pfaltzgraff(R) brand in the broad housewares segment of the tabletop business."

Steven Lizak, formerly Senior Vice President of Sales and Marketing at Mikasa/Arc International, joined Lifetime as President of the Company's tabletop division in 2004.

The combined businesses will give Lifetime a powerful portfolio of nationally recognized tabletop brands, including Atlantis(R), Block(R), Calvin Klein(R), Farberware(R), Joseph Abboud Environments(R), Kathy Ireland(R), NapaStyle(TM), Nautica(R), Pfaltzgraff(R), PFZ(TM), Retroneu(R), Sabatier(R), Sasaki(R) and Stiffel(R).

Lifetime expects the acquisition to contribute approximately $6 million in revenues in 2005 and to be nominally profitable for the year. Lifetime funded the transaction through its credit facility.

Lifetime Brands is a leading designer, marketer and distributor of kitchenware, cutlery & cutting boards, bakeware & cookware, pantryware & spices, tabletop and bath accessories, marketing its products under various trade names, including Farberware(R), KitchenAid(R), Cuisinart(R), DBK(TM)-Daniel Boulud Kitchen, Joseph Abboud Environments(R), Kathy Ireland(R), Baker's Advantage(R), CasaModa(TM), Hoffritz(R), Kamenstein(R), Nautica(R), Pfaltzgraff(R), PFZ(TM), Retroneu(R), Roshco(R), Sabatier(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.

SOURCE: Lifetime Brands, Inc.

Lifetime Brands, Inc.
Robert McNally, 516-683-6000
or
Investor Relations:
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Harriet Fried, 212-838-3777
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