September 8, 2006

Hanson Bridgett Represents CoolBrands International in $10-million Sale of its Value America Division

San Francisco (September 8, 2006) – Hanson Bridgett LLP represented CoolBrands International Inc. (TSX: COB.A) in the US$10 million sale of its Value America flavors and ingredients division. The deal between Eskimo Pie Corp., an indirect subsidiary of CoolBrands, and an undisclosed buyer is expected to close this month.

Net proceeds from the sale will be used to repay a portion of the company's debt which includes $17.9 million in long-term debt and $3.2 million in currently maturing long-term debt.

Hanson Bridgett's team on the deal was lead by Partner Vicki Randall and assisted by Associate Anita Zerounian with paralegal support from Linda Turner.

Hanson Bridgett Public Relations:
P: 415-995-5192, F: 415-541-9366

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