CoolBrands International Inc. Enters U.K. With Tropicana Frozen Novelties.

Business Editors

MARKHAM, Ontario--(BUSINESS WIRE)--March 7, 2002

CoolBrands International Inc. (TSE: COB.A) announced today that it has entered into an agreement with Brand Innovations LTD, of Brockenhurst, England, to launch a line of Tropicana(R) branded frozen fruit juice bar novelties in the United Kingdom. CoolBrands is the exclusive marketer of Tropicana(R) frozen desserts under a long-term license from Tropicana Products, Inc. of Bradenton, Florida.

The agreement announced today provides that Brand Innovations will distribute Tropicana(R) branded frozen novelties throughout the United Kingdom under sublicense from CoolBrands beginning with the 2002 selling season. The products will be manufactured in Europe using Tropicana Pure Premium(R) orange juice as the main ingredient.

The launch of Tropicana(R) frozen novelties in the United Kingdom follows the successful European introduction of the Tropicana(R) frozen novelty product line in France and Belgium in 2001. CoolBrands began marketing Tropicana(R) frozen novelties in the United States and Canada in 1997 and 1999, respectively. The entry into the United Kingdom coincides with the growing dominance of Tropicana(R) Pure Premium(R) as the leading fresh juice brand there and in a host of other European countries.

"Tropicana Pure Premium(R) is the third largest branded food product in the U.S. and the fourth largest in Canada, and is fast achieving similar dominance in Europe and throughout the world," said CoolBrands' President and Co-CEO David J. Stein. "CoolBrands is delighted to share in this growth by developing the Tropicana(R) brand in the frozen dessert category in important markets around the world."

Coolbrands markets Eskimo Pie(R) branded frozen novelties and frozen dessert products. Eskimo Pie(R) created the frozen novelty industry in 1921 when its founder, Christian K. Nelson, invented the chocolate-coated ice cream bar. Today, more than 80 years later, Eskimo Pie(R) remains one of the best-known and most widely distributed of all frozen novelty brands. The Company also markets a broad range of frozen novelties and frozen dessert products under the Tropicana(R), Welch's(R), Weight Watchers(R) Smart Ones(R), Betty Crocker(R), Trix(R), Yoplait(R), Colombo(R) and Yoo Hoo(R) brand names pursuant to long-term licensing agreements. In addition, Coolbrands franchises and licenses frozen dessert outlets operated under a Family of Brands including Yogen Fruz(R), I Can't Believe It's Yogurt(R), Bresler's(R), Swensen's(R), Golden Swirl(R), Ice Cream Churn(R), and Java Coast(R) Fine Coffees, with company-owned, franchised and non-traditional partnership locations in approximately 80 countries around the world. Coolbrands' Foodservice Division is a leading manufacturer and supplier of premium soft serve ice cream, frozen yogurt, custard and smoothies to the foodservice industry. The Company also manufactures and sells a full line of quality flavors, chocolate coatings, fudge sauces, powders for chocolate milk, egg nog bases and other ingredients and flexible packaging products for use in private label dairy products in addition to the Company's brands.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:Information in this release relating to the Company's future plans and performance are "forward looking statements" and, as such, involve certain risks and uncertainties that could cause actual results to vary materially. Potential risks and uncertainties include, but are not limited to: (1) the highly competitive nature of the frozen dessert market and the level of consumer interest in the Company's products, (2) product costing, (3) the weather, (4) the performance of management, including management's ability to implement its plans as contemplated, (5) the Company's relationships with its customers, franchisees, licensees and licensors, and (6) government regulation.