Lifetime Brands Acquires Mikasa

GARDEN CITY, N.Y.--(Business Wire)--
Lifetime Brands, Inc. (Nasdaq NM: LCUT), North America's leading
resource for nationally branded kitchenware, tabletop and home decor
products, today announced that it had acquired the business and
certain assets of Mikasa, Inc. from Arc International SA.

Mikasa is a leading provider of dinnerware, crystal stemware,
barware, flatware and decorative accessories. Mikasa's products are
distributed through department stores, specialty stores and big box
chains, as well as on the Internet at www.mikasaandcompany.com.

Jeffrey Siegel, Lifetime's Chairman, President and Chief Executive
Officer, commented, "We are very pleased to add the Mikasa family of
brands, including Mikasa(R), Celebrations by Mikasa(TM) and Gourmet
Basics(R) by Mikasa, to our portfolio of distinctive tabletop brands.
We expect that the annual revenue of our wholesale tabletop business
should exceed $150 million in 2009."

The terms of the transaction were not announced. Lifetime intends
to update its financial guidance for 2008 to include the effect of the
acquisition, which is expected to be accretive to earnings beginning
in 2008, when it reports its results for the three and six month
periods ended June 30, 2008.

Arc International SA was advised in the transaction by Morgan
Joseph & Co. Inc.

About Lifetime Brands, Inc.

Lifetime Brands is North America's leading resource for nationally
branded kitchenware, tabletop and home decor products. The Company
markets its products under many of the industry's best known brands,
including Farberware(R), KitchenAid(R), Pfaltzgraff(R), Mikasa(R),
Pfaltzgraff(R) Cuisinart(R), Block(R) China and Crystal, Calvin
Klein(R), CasaModa(R), Cuisine de France(R), Gorham(R), Hoffritz(R),
International(R) Silver, Joseph Abboud(TM), Kamenstein(R), Kirk
Stieff(R), Melannco(R), Nautica(R), Pedrini(R), Roshco(R),
Sabatier(R), Sasaki(R), Towle(R) Silversmiths, Tuttle(R), Wallace(R)
and Vasconia(R). Lifetime's products are distributed through most
major retailers in North America.

The information herein contains certain forward-looking statements
including statements concerning the Company's future prospects. These
statements involve risks and uncertainties, including risks relating
to general economic conditions and risks relating to the Company's
operations, such as the risk of loss of major customers and risks
relating to changes in demand for the Company's products, as detailed
from time to time in the Company's filings with the Securities and
Exchange Commission.

Lifetime Brands, Inc.
Christian G. Kasper, 516-203-3590
Senior Vice President
chris.kasper@lifetimebrands.com
or
Investor Relations
Lippert/Heilshorn & Assoc.
Harriet Fried, 212-838-3777
hfried@lhai.com

Copyright Business Wire 2008