CoolBrands International Inc. Reports Launch of Tropicana Frozen Novelties in France and Belgium.

Business Editors

MARKHAM, Ontario--(BUSINESS WIRE)--May 2, 2001

CoolBrands International Inc. (TSE:COB.A) announced today that it has entered into an agreement with Rolland, S.A. of Landerneau Cedex, France to launch a line of Tropicana(R) branded frozen fruit juice bar novelties in France and Belgium.

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 Rolland will manufacture Tropicana(R) branded frozen novelties at its plant located in Brest, France and distribute them throughout France and Belgium under sublicense from CoolBrands. All major French and Belgian retailers have agreed to list the products, and distribution is set to begin immediately.

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

"Tropicana Pure Premium 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 brand in the frozen dessert category. Rolland, S.A. is a major European manufacturer and marketer of frozen desserts, and the alliance announced today establishes a platform for future expansion into additional European markets."

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, 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) Ice Cream and Premium Frozen Yogurt, Swensen's(R) Ice Cream, 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. Eskimo Pie(R) Foodservice 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.