Home fashion staple becomes second acquisition in consumer branded products vertical and 5th brand acquisition for Company

NEW YORK, March 13 /PRNewswire-FirstCall/ -- NexCen Brands, Inc. ("NexCen" or the "Company") (NASDAQ:NEXC) is pleased to announce that it has entered into a definitive agreement to acquire the Waverly brand ("Waverly") from F. Schumacher & Co. The Waverly brand is a premier lifestyle authority for ensuring harmonious and tasteful decorating, a mission that it has fulfilled for three-quarters of a century.

Robert W. D'Loren, NexCen's President and Chief Executive Officer, stated: "Waverly provides us with a leading presence in the home design sector." He noted further, "Waverly has an outstanding team of home products designers and licensing professionals that can excel in our operating structure by supporting and growing the Waverly brand. NexCen can build upon their expertise and the current Waverly licensee base to more fully develop our Bill Blass home business and future brands that we intend to acquire."

"As the only authentic home brand rooted in home decorating, Waverly has earned both its legacy and its devoted following," said Gerald W. Puschel, F. Schumacher & Co.'s Chief Executive Officer. "NexCen deeply respects the brand and its storied history, and is committed to safeguarding and managing the brand into the future as we approach Waverly's 85th year. We are proud that Waverly will continue its trajectory with a company so befitting of the brand."

NexCen will pay $36.75 million in cash and issue 50,000 warrants priced at closing to acquire the Waverly brand and cancel an existing right of first refusal. NexCen expects to hire certain design, marketing and licensing personnel to continue the business of Waverly.

NexCen estimates that the Waverly brand will generate approximately $9 million of royalty revenue and approximately $.07 per share of incremental EPS in the first 12 months following the acquisition. Assuming the acquisition is completed by the end of April 2007, NexCen estimates the Waverly brand will contribute approximately $.04 per share of incremental EPS in the 2007 fiscal year.

Conference Call

The Company will host a conference call to discuss this acquisition on March 14, 2007 at 8:00 a.m. EDT. Interested parties may access the call by telephone at (866) 550-6338. Please ask for confirmation code 6564706. Replay of this call will be available until April 13, 2007, by calling (888) 203- 1112, access code 6564706.

NexCen Brands was represented by UCC Capital Corporation.

About the Companies

NexCen Brands, Inc. 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.

Waverly is a premier lifestyle brand and one of the most recognized names in home furnishings. Its signature look is expertly translated into countless classic styles among licensed home furnishings products, including fabrics, wallpapers, paint, bedding, window treatments, decorative accessories and other key products. Launched in 1923 by F. Schumacher & Co., the 118-year-old home furnishings concern, Waverly is available through retailers and interior design showrooms nationwide.

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 our IP business, expectations for the performance of Waverly and NexCen's ability to complete the acquisition of Waverly. When used herein, the words "anticipate," "believe," "estimate," "intend," "may," "will," "expect" and similar expressions often indicate that a statement is a "forward-looking statement." Forward-looking statements are based on current expectations and assumptions, which are subject to risks, uncertainties and other factors. 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) we may not be successful in implementing our IP business, (2) we may not complete the acquisition of Waverly on the negotiated terms or at all, (3) we may not be successful in operating or expanding Waverly or integrating it into our IP business, (4) risks associated with marketing and licensing our acquired trademarks and with successfully developing, marketing and licensing new products particularly in light of rapidly changing fashion and market trends, (5) risks associated with the ability of licensees to successfully market and sell branded products and (6) 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 on these transactions, or about NexCen Brands please visit our website at www.nexcenbrands.com .

Source: NexCen Brands, Inc.

CONTACT: Media: Marjorie Klein of MKlein Communications,
+1-203-938-2553, mklein6@optonline.net; or Investors: David B. Meister of
NexCen Brands, Inc., +1-212-277-1119, investor_relations@nexcenbrands.com

Web site: http://www.nexcenbrands.com/