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May 1, 2002

CANADA: CoolBrands “extremely optimistic” of strong growth in Q3 and Q4

Markham, Ontario-based CoolBrands International has said that the initial results from its 2002 new consumer products rollout point to continued strong growth for its Q3 and Q4. The company is introducing new products in the US under the Weight Watchers® Smart Ones® brand, including Big Round Low Fat Ice Cream Sandwiches, Giant Sundaes and Giant Fudge Bars. Initial takeaway by consumers at major retailers has exceeded expectations and CoolBrands is currently bringing on additional manufacturing capacity in order to meet demand for these products.

Markham, Ontario-based CoolBrands International has said that the initial results from its 2002 new consumer products rollout point to continued strong growth for its Q3 and Q4.

The company is introducing new products in the US under the Weight Watchers® Smart Ones® brand, including Big Round Low Fat Ice Cream Sandwiches, Giant Sundaes and Giant Fudge Bars. Initial takeaway by consumers at major retailers has exceeded expectations and CoolBrands is currently bringing on additional manufacturing capacity in order to meet demand for these products.

David J. Stein, president and co-CEO, stated: “Our consumer products division is the largest part of our business, accounting for roughly 60% of the company’s revenues and earnings, and it is the fastest growing segment. Consumer products revenues are up by 42% for the first six weeks of the Q3.

“This leads us to be extremely optimistic regarding continued strong growth in revenues and earnings during the Q3 and Q4, which constitute our prime selling season.”

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