Azurel Ltd. Acquires Assets of Ben Rickert, Inc.

NEW YORK--(BUSINESS WIRE)--August 5, 1998--Azurel Ltd. (NASDAQ: AZUR) announced today it has acquired the assets of Ben Rickert, Inc., a 23-year old cosmetic company, from Summit Bank for a combination of $1.5 million in cash and a short term note.

Ben Rickert, which had 1997 sales of $13 million, was one of the pioneers in the bath, body and gift business and is an extremely well-known and respected brand. Ben Rickert distributes its soaps and lotion products to most major retail stores including J.C. Penney, Walmark, K-Mart and most drug chains. The company's upscale line of fragrance, "Privilege," is a successful entry into the large fragrance market.

The acquisition of Ben Rickert will help Azurel more than double its core annualized business.

In announcing the acquisition, Gerard Semhon, Chairman and Chief Executive Officer of Azurel said, "Ben Rickert has a strong, viable reputation with a high degree of creativity in the marketing of their products. This acquisition will allow Azurel to enjoy a number of advantages, including the transfer of a great portion of Ben Rickert out source manufacturing to Azurel's Private Label Cosmetics (PLC) division. We will also reduce overhead by combining key departments such as purchasing, marketing and accounting."

In addition, Mr. Semhon said, "We have also acquired, in the transaction, two soap making machines which will allow us to enter the soap manufacturing business. The acquisition allows Azurel additional clout with `key accounts' retailers for other Azurel product lines."

Azurel Ltd. is a vertically integrated cosmetics, skin care products and fragrance company uniquely positioned to offer its clients a complete range of services, from concept, product development, manufacturing, marketing and distribution both domestically and internationally. The Company has its own manufacturing plant and currently distributes its own proprietary brands worldwide.

Disclosure: This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service, demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks defined in this document and in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

This release is available on the KCSA Worldwide website at www.kcsa.com

    CONTACT: AZUREL LTD.
              Frank DeSimone, Executive VP & CFO
              Diane Papas, VP of Sales & Corporate Communications
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              KCSA
              Joseph A. Mansi/Sarah Shepard
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