CoolBrands International Inc.

TORONTO , ON, Dec. 7 /CNW/ - CoolBrands International Inc. (TSX: COB) ("CoolBrands" or the "Company") advises that management of the Company is not aware of any undisclosed material information that would explain the recent trading activity in shares of CoolBrands.

About CoolBrands International Inc.

CoolBrands International Inc. is a company looking to profit from its current financial holdings by searching out, investigating and investing in enterprises that are expected to provide long-term positive returns for its shareholders.

Forward Looking Statements

This news release may contain "forward-looking" statements within the meaning of applicable securities legislation which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company results, to be materially different from any future results, events, expectations, performance or achievements expressed or implied by such forward-looking statements. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities legislation. Forward-looking statements may include comments with respect to the Company's objectives, strategies to achieve those objectives, expected financial results, and the outlook for the Company's business. Forward-looking statements typically contain such words or phrases such as "may", "outlook", "objective", "intend", "estimate", "anticipate", "should", "could", "would", "will", "expect", "believe", "plan" and other similar terminology suggesting future outcomes or events. These statements reflect current expectations regarding future events and operating performance and are based on information currently available to the Company's management.

Although the forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements and outlook are made as of the date of this news release and, except as required by applicable law, the Company assumes no obligation to update or revise them to reflect new events or circumstances.

For further information: Ken MacKenzie, Telephone: [phone]