CoolBrands International Launches National Foodservice Program With New 1 Point Weight Watchers Smart Ones Soft Ice Cream

Business Wire, April 23, 2002

Business Editors

MARKHAM, Ontario--(BUSINESS WIRE)--April 23, 2002

Rich, creamy, sensible, and with only 1 POINT(R) per serving,

New Weight Watchers(R) Smart Ones(R) Soft Ice Cream leads a bold

initiative by CoolBrands to gain share in the foodservice market

CoolBrands International Inc. (TSE: COB.A) - New Weight Watchers Smart Ones Soft Ice Cream heads an exciting line-up of frozen dessert products under the Weight Watchers Smart Ones brand intended for distribution to foodservice outlets throughout the U.S. CoolBrands will launch these products as part of a comprehensive program targeting the foodservice industry to be unveiled at the National Restaurant Show in Chicago beginning on May 18, 2002.

Weight Watchers Smart Ones Soft Ice Cream offers an indulgent and sensible alternative to soft frozen yogurt at a time when many consumers are looking for the creamier, less tart taste of traditional ice cream. Weight Watchers Smart Ones Soft Ice Cream delivers that traditional creamier ice cream taste and will be available initially in Vanilla and Chocolate flavors. Each 4 fl. oz. serving is fat free and equates to just 1 POINT under the Weight Watchers Winning Points(R) Weight-loss System. Weight Watchers Smart Ones Soft Ice Cream mix is manufactured by CoolBrands' Foodservice Division at its factory in Russellville, Arkansas.

CoolBrands will feature other Weight Watchers Smart Ones ice cream novelties in their new foodservice program including the highly successful Round Vanilla Low Fat Ice Cream Sandwiches and Giant Sundae Cups each with only 2 POINTS per serving, as well as the new 1 POINT Giant Fudge Bars, portion-controlled and specially packaged for single serve sale.

CoolBrands will support the launch of these new foodservice products with an aggressive national advertising campaign and merchandizing program using soft serve equipment and counter-top novelty freezers that prominently bear the distinctive Weight Watchers Smart Ones logo and distinctive red trade dress. CoolBrands will lease the equipment to major foodservice operators, including Host International, Sedexho, Aramark, Compass Group and Volume Services America, through an equipment-leasing subsidiary formed as a new profit center for the Company.

"This new initiative aims to extend the phenomenal success of our Weight Watchers Smart Ones frozen novelties in grocery outlets to the vast foodservice

market," stated CoolBrands' President and Co-CEO, David J. Stein. "Foodservice operators are looking for new indulgent products which cater to the needs of their customers. Weight Watchers Smart Ones Soft Ice Cream is perfect for them, since it features a rich ice cream taste that is smoother, creamier, and less tart than frozen yogurt. And with only 1 POINT per serving, as compared to most nonfat frozen yogurts, which are at least 2 POINTS for the same serving size, Weight Watchers Smart Ones Soft Ice Cream not only delivers an incredible eating experience, it also fits nicely into the Weight Watchers Winning Points Weight-Loss System."

Weight Watchers members follow the Weight Watchers Winning Points System, which combines the calories, fat, and fiber content of a particular food serving into an equivalent POINTS value. Members track the POINTS they consume each day according to their daily-allotted POINTS Range.

CoolBrands is the exclusive licensee for Weight Watchers Smart Ones frozen novelties and soft serve frozen desserts in the U.S. CoolBrands also markets Eskimo Pie(R) branded frozen novelties and frozen dessert products, and a broad range of frozen novelties and frozen dessert products under the Tropicana(R), Welch's(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) (ICBY), 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. 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, sherbet bases and other ingredients and printed flexible packaging products for use in private label dairy products in addition to the Company's brands.

WEIGHT WATCHERS on food and beverages is the registered trademark of WW Foods LLC. SMART ONES is the registered trademark of H.J. Heinz Company. WEIGHT WATCHERS for services, WINNING POINTS and POINTS are registered service marks of Weight Watchers International, Inc.

"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.