Lifetime Brands, Inc. Announces Filing of Registration Statement for the Public Offering of 2,500,000 Shares of Common Stock

WESTBURY, N.Y.--(BUSINESS WIRE)--Oct. 31, 2005--Lifetime Brands, Inc. (NASDAQ: LCUT) announced today that it has filed a registration statement with the Securities and Exchange Commission in connection with a proposed public offering of 2,500,000 shares of common stock, consisting of 1,500,000 primary shares and 1,000,000 secondary shares. Lifetime intends to use the proceeds from the primary share offering to pay down debt outstanding under its revolving credit facility. A majority of the secondary shares are anticipated to be sold by Lifetime's retired former Chairman and co-founder, Milton Cohen, and his family. Lifetime will not receive any proceeds from the sale of the secondary shares. In addition, it is anticipated that Lifetime and certain selling shareholders will grant an option to sell up to 375,000 shares of their common stock to cover over-allotments, if any.

Citigroup Corporate and Investment Banking will act as the sole book-runner for the offering and Adams Harkness, Inc. will act as a co-manager for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state. When available, copies of the preliminary prospectus may be obtained from Citigroup, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 (tel: 718-765-6732; fax: 718-765-6734).

About Lifetime Brands, Inc.

Lifetime is a leading designer, marketer and distributor of kitchenware, tabletop accessories, cutlery and cutting boards, bakeware, and pantryware and spices, marketing its products under various trade names, including Pfaltzgraff(R), KitchenAid(R), Farberware(R), Cuisinart(R), Sabatier(R), Calvin Klein(R) and Hoffritz(R). Lifetime's products are distributed through most major retailers in the United States.

CONTACT: Lifetime Brands, Inc.
Robert McNally, 516-683-6000
or
Lippert/Heilshorn & Assoc.
Investor Relations:
Harriet Fried, 212-838-3777

SOURCE: Lifetime Brands, Inc.