EXHIBIT 99.1


                                   NEWS FROM:
                         COOLBRANDS INTERNATIONAL, INC.


8300 Woodbine Avenue, 5th Floor                   Contact: Michael Serruya
Markham, Ontario, Canada, L3R 9Y7                 Telephone: (905) 479-8762


                      FOR IMMEDIATE RELEASE: July 28, 2004


        COOLBRANDS ANNOUNCES PLANS TO CHANGE ITS BETTER FOR YOU PORTFOLIO


CoolBrands International Inc. (TSX: COB.A) announced today that, as a result of
the inability of Weight Watchers International and CoolBrands to conclude an
extension of their existing license agreement on mutually agreeable terms, the
license agreement will end on September 28, 2004. CoolBrands has the right to
continue to market Smart Ones frozen desserts using the Weight Watchers name on
its packaging for approximately the next one year and two months until September
28, 2005. Thereafter, the Company intends to continue marketing its line of low
fat and fat free "better for you" frozen desserts under an alternative brand
licensing arrangement currently under discussion.

About CoolBrands International Inc.:

CoolBrands International is a leader in the consumer products and franchising
segments of the frozen dessert industry, marketing a diverse range of frozen
dessert products under nationally and internationally recognized brand names,
including "better-for-you" offerings such as fat free, non-dairy Whole Fruit
'TM' Sorbet, Weight Watchers'r' Smart Ones'r' low-fat and fat-free frozen
desserts and new Atkins'r' Endulge'TM' controlled carbohydrate super premium ice
cream. CoolBrands also competes in the super premium ice cream category with the
Dreamery'r' Ice Cream and Godiva'r' Ice Cream brands. In addition, CoolBrands
markets a wide variety of "all family" premium ice creams, frozen novelties and
frozen desserts under the Eskimo Pie'r', Chipwich'r', Tropicana'r', Welch's'r',
Yoplait'r', Betty Crocker'r' and Trix'r' brand names.

CoolBrands' subsidiary, Eskimo Pie Frozen Distribution, operates the second
largest "direct store delivery" (DSD) ice cream distribution system in the U.S.,
serving these CoolBrands products and a growing family of Partner Brands to
supermarkets, convenience stores and other retail customers.

CoolBrands' subsidiary, Americana Foods, is a leading U.S. manufacturer and
supplier of soft serve mixes, packaged ice cream, frozen yogurt and sorbet
products and frozen novelties to well known national retailers, food companies
and restaurant chains. Americana Foods also manufactures and sells products for
the foodservice channel, which are extensively used to standardize quality and
reduce labor costs in on-site food preparation.

Coolbrands' Foodservice Division manufactures and sells premium soft serve ice
cream and frozen yogurt to the foodservice industry. CoolBrands also
manufactures and sells a full line of quality flavours, chocolate coatings,
fudge sauces, powders for chocolate milk, egg nog bases and other ingredients
and flexible packaging products for use in private label dairy products in
addition to the Company's brands.

CoolBrands also franchises and licenses frozen dessert outlets operated under a
Family of Brands including








Tropicana'r' Smoothies, Juices & More, Swensen's'r' Ice Cream, I Can't Believe
It's Yogurt'r', Yogen Fruz'r', Bresler's'r' Premium Ice Cream, Golden Swirl'r'
and Ice Cream Churn'r', with company-owned, franchised and non-traditional
partnership locations around the world.

This press release includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 regarding, among
other things, statements relating to goals, plans and projections regarding the
Company's financial position and business strategy. These statements may be
identified by the fact that they use such words as "anticipate," "estimate,"
"expect," "intend," "plan," "believe," and other words and terms of similar
meaning in connection with any discussion of future operating or financial
performance. Such forward-looking statements are based on current expectations
and involve inherent risks and uncertainties, including factors that could
delay, divert or change any of them, and could cause actual outcomes and results
to differ materially from current expectations. These factors include, among
other things, market factors, competitive product development and promotional
activity, the level of consumer interest in the Company's products, product
costing, the weather, the performance of management, including management's
ability to implement its plans as contemplated, the Company's relationship with
its customers, franchisees, licensees and licensors, governmental regulations
and legislation and litigation. The Company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new information,
future events or otherwise.