NexCen Brands, Inc. Announces Agreement to Manufacture and Distribute Licensed Branded Apparel for The Athlete's Foot(R)

NEW YORK, Sept. 6 /PRNewswire-FirstCall/ -- NexCen Brands, Inc. (Nasdaq: NEXC) announced today that it has entered into an agreement with Li & Fung USA, a world leader in sourcing, distribution and retailing. Under the terms of the agreement, Li & Fung USA, a subsidiary of Li & Fung Trading, Ltd., will manufacture and distribute branded apparel under The Athlete's Foot (TAF) brand. NexCen publicly announced in June its intention to launch the TAF line of branded apparel. Financial terms of the agreement were not disclosed.

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"NexCen Brands is committed to building relationships with world-class partners in order to build value for our portfolio of brands. When we conceived the TAF branded apparel line, we were determined to find a premier, global licensee with a proven track record in developing quality consumer products," commented Robert W. D'Loren, President and CEO of NexCen Brands, Inc. "Li & Fung offers us a comprehensive solution to our needs - from product design through production."

The first two collections in the TAF line are performance athletic attire, known as taftec(TM), and Track & Field, a "classic athletic" collection that takes inspiration from retro and collegiate sport styles. NexCen led the design initiatives for taftec(TM) product that will be available in stores during the first quarter of 2008 and Track & Field product to be available shortly thereafter.

Additionally, Li & Fung USA will manage the supply chain from the development stage through distribution for the TAF branded apparel lines. Categories of product in the line include: shirts, running bras, shorts, pants and tights, sweat suits, outerwear and accessories.

"NexCen has created for TAF a premier collection of athletic attire and accessories that provides our TAF franchise owners with the added bonus of attractive margins. We expect that loyal TAF consumers, everyday athletes in search of lifestyle gear to help them perform at their highest level, will be pleased to have this type of superior product available to them at their local TAF store," commented Mr. D'Loren.

About The Athlete's Foot (www.theathletesfoot.com)

The Athlete's Foot(R) is the world's first franchisor of athletic footwear stores and is recognized today as the world leader in athletic footwear franchising. Robert and David Lando opened the first The Athlete's Foot store in 1971 in Pittsburgh, Pennsylvania. It was the first athletic footwear specialty store of its kind in the United States. Soon thereafter, The Athlete's Foot began franchising domestically, with the first franchise store opening in Oshkosh, Wisconsin. The first international franchise store opened in 1978 in Adelaide, Australia, the beginning of The Athlete's Foot expansion into over 45 countries with over 600 franchised stores.

About NexCen Brands, Inc. (www.nexcenbrands.com)

NexCen Brands, Inc. (Nasdaq: NEXC) is the premier 21st century brand acquisition and management company focused on assembling a diversified portfolio of intellectual property (IP) centric companies operating in the consumer branded products and franchise industries. The Company owns, licenses, franchises and markets a growing portfolio of consumer and franchise brands including The Athlete's Foot(R), Bill Blass(R), MaggieMoo's(R), Marble Slab Creamery(R), Pretzel Time(R), Pretzelmaker(R) and Waverly(R). The Company licenses and franchises its brands to a network of leading retailers, manufacturers and franchisees that touch every major segment of retail distribution from the luxury market to the mass market in the U.S. and in over 50 countries around the world, and consists of more than 1,500 franchised stores. NexCen, through its information technology (IT) and franchisee support systems and advertising, marketing and public relations team, markets its brands to continually drive greater consumer awareness and brand equity for each of its brands. NexCen touches nearly every aspect of a consumer's lifestyle from the food they eat to the furnishings in their homes and the clothes and footwear they purchase.

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 expectations for the development of the new IP strategy business, expectations for the performance of The Athlete's Foot. 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, including the estimates and expectations regarding future revenues and operating margins contained in this press release. Factors that could cause or contribute to such differences include: (1) we may not be successful in implementing the new IP strategy, (2) we may not be successful in operating or expanding The Athlete's Foot or integrating the acquisitions into our IP business strategy, (3) risks associated with marketing and franchising our acquired trademarks and with successfully developing, marketing, licensing or franchising new products or concepts particularly in light of rapidly changing market trends (4) risks associated with the ability of franchisees to successfully market and sell under the Athlete's Foot trademarks, and (5) other factors discussed in our filings with the Securities and Exchange Commission. NexCen undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information about these transactions, or about NexCen please visit our website at www.nexcenbrands.com.

SOURCE NexCen Brands, Inc.

CONTACT:
Media, Susan Goodell of Warschawski
+1-410-367-2700, ext. 25
for NexCen Brands, Inc.
or
Investors
Jeffrey Goldberger of KCSA Worldwide
+1-212-816-1249
jgoldberger@kcsa.com