NexCen Brands Announces Expansion of Shoebox New York into Kuwait

NEW YORK--(BUSINESS WIRE)--NexCen Brands, Inc. (PINK SHEETS: NEXC.PK) today announced that it has signed a master franchise agreement for the expansion of its Shoebox New York franchised stores into Kuwait. This agreement, following the previously announced development agreements for South Korea and Vietnam, marks the third international agreement for Shoebox New York and further strengthens the platform for the franchised stores to be opened across international markets. In November 2008, the Company opened its first international Shoebox New York franchised store in Hanoi, Vietnam.

The master franchise agreement calls for the development of at least three Shoebox New York franchised stores in Kuwait over a 10-year term. The principals of the master developer under this agreement also are the principals of the master developer in Kuwait for The Athlete’s Foot (TAF), another brand in NexCen’s portfolio of seven franchise brands. Pursuant to the TAF development agreement, 11 TAF franchised stores have been opened since 1997, with one TAF Kids store under development for 2009.

Kenneth J. Hall, Chief Executive Officer of NexCen Brands, stated, “We continue to leverage our NexCen franchising platform to expand our brands and drive revenue growth. Importantly, our platform allows us to cross-sell additional franchised brands to proven franchise partners, as well as to identify co-branding opportunities.”

Chris Dull, President of NexCen Franchise Management, Inc. the franchising subsidiary of NexCen Brands, stated, “I am proud of our team’s efforts to secure new domestic and international franchise agreements. We believe the Middle East is a very attractive market for all of our brands. We look forward to growing our relationship with existing developers to introduce Shoebox New York to consumers in Kuwait.”

About Shoebox New York

The Shoebox New York concept had its genesis from Shoebox, one of New York's premier women's multi-brand retailers for luxury footwear, handbags and accessories. Established in 1954 and known for its vast product assortment and trend-setting styles from top European and American designers, Shoebox garnered a dedicated following of sophisticated women. Shoebox New York continues this tradition by offering high-quality, high-fashion shoes and accessories in franchised stores in the U.S. in New York and Florida and internationally in Vietnam.

About NexCen Brands

NexCen Brands, Inc. is a strategic brand management company with a focus on franchising. It owns a portfolio of franchise brands that includes two retail franchises: The Athlete's Foot® and Shoebox New York®, as well as five quick service restaurant (QSR) franchises: Great American Cookies®, MaggieMoo's®, Marble Slab Creamery®, Pretzelmaker® and Pretzel Time®. The brands are managed by NexCen Franchise Management, Inc., a subsidiary of NexCen Brands.

Forward-Looking Statement Disclosure

This press release contains “forward−looking statements,” as such term is used in the Securities Exchange Act of 1934, as amended. Such forward−looking statements include those regarding expected cost savings, expectations for the future performance of our brands or expectations regarding the impact of recent developments on our business. When used herein, the words “anticipate,” “believe,” “estimate,” “intend,” “may,” “will,” “expect” and similar expressions as they relate to the Company or its management are intended to identify such forward−looking statements. Forward−looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties. They are not guarantees of future performance or results. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward−looking statements. Factors that could cause or contribute to such differences include: (1) international development agreements may not result in the actual opening of the stores provided for under those agreements, which could negatively impact anticipated franchise fees, store opening fees and monthly royalty payments over the life of the agreements; (2) economic conditions may deteriorate in international and domestic markets, which could negatively impact the sale or operations of new and existing franchise stores; (3) we depend on the success of our franchisees to develop and grow our franchise systems both domestically and internationally; (4) we and/or our franchisees may not be successful in operating or expanding our brands or integrating them into an efficient overall business strategy, (5) our marketing, licensing and franchising concepts and programs may not result in increased revenues, expansion of our franchise network or increased value for our trademarks and franchised brands, (6) other factors discussed in our filings with the Securities and Exchange Commission. . The Company undertakes no obligation to update or revise any forward−looking statements, whether as a result of new information, future events or otherwise.

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Leigh Parrish/Stephanie Rich, 212-850-5600