SOURCE: NexCen Brands, Inc.

September 13, 2007 16:15 ET

NexCen Announces Second Major Area Development Deal for The Athlete's Foot Since Announcing Rebranding Effort

Veteran Apparel Retailer Will Open TAF Stores in Mississippi

NEW YORK, NY--(Marketwire - September 13, 2007) - NexCen Brands, Inc. (NASDAQ: NEXC) ("NexCen") announced today that a veteran apparel retailer has entered into a definitive agreement with NexCen to open twenty of The Athlete's Foot (TAF) franchises throughout the state of Mississippi. These TAF stores will be the first in the state of Mississippi. Financial terms of the agreement were not disclosed, but the arrangement calls for a minimum of 12 new TAF stores to be opened within the next five years. Earlier this month, NexCen announced the closing of a 100-store agreement with a master franchisee. Both major expansion plans resulted from the TAF rebranding effort announced by the parent company this past June at the TAF Global Franchise Convention in Las Vegas.

"We are gratified and enthused that our rebranding effort for TAF has been eagerly embraced by existing and new area developers. We look forward to providing our new area developer with the marketing and operational resources he needs to enable every one of his 20 stores to be the go-to retailer for athletic footwear and apparel within its community," commented Robert W. D'Loren, President & CEO of NexCen Brands, Inc. "NexCen is continuously looking for new opportunities and markets in which to grow the TAF brand globally and domestically, and now we can lay claim to the state of Mississippi."

The entrepreneur inking the deal is an established apparel retailer who seeks to broaden his current business through athletic and fashion footwear. Under the deal, he is granted the exclusive rights to operate premium athletic footwear and apparel stores under the TAF brand, as well as the right to sub-franchise. He is expected to take advantage of this opportunity to expedite TAF store development. The first TAF in Mississippi is expected to open in December of 2007.

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

The Athlete's Foot® (TAF) 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, TAF 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 TAF's expansion into over 45 countries. In June, 2007, NexCen Brands launched a global re-branding effort for TAF. Plans for reinvigorating the 36 year-old brand include an innovative new modular merchandising system, new in-store design, a modernized company logo, and a line of TAF branded apparel.

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

NexCen Brands, Inc. is the premier 21st century brand acquisition and management company focused on assembling a diversified portfolio of intellectual property-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®, Bill Blass®, MaggieMoo's®, Marble Slab Creamery®, Pretzel Time®, Pretzelmaker® and Waverly®. The Company licenses and franchises its brands to a network of leading retailers, manufacturers and franchisees that includes 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 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.

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