EXHIBIT 99.1



                                   NEWS FROM:
                          COOLBRANDS INTERNATIONAL INC.


FOR IMMEDIATE RELEASE: August 18, 2004

For More Information Contact:
         Michael Serruya, Co-Chairman
         CoolBrands International Inc.
         Email Address: mserruya@coolbrandsinc.com
         Telephone: (905) 479-8762

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 CRAYOLA COMING SOON TO A FREEZER NEAR YOU

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CoolBrands Teams Up With Binney & Smith To Market Crayola Frozen Treats

Toronto, Canada and Atlanta, GA - CoolBrands International Inc. (TSX:COB.A) and
Nancy Bailey and Associates, Inc. are pleased to announce that Binney & Smith
has entered into a licensing agreement with CoolBrands further expanding Crayola
into the food category. "Food has been a major initiative for us this year, and
we are excited to have CoolBrands join the Crayola family of food licensees,"
said Diane Baldovsky, Associate Manager, Global Licensing at Binney & Smith.

Binney & Smith and CoolBrands have partnered to create an innovative line of
frozen novelties including pops, bars, sandwiches, cups, cones, sundaes and
shakes. In addition, CoolBrands will develop Crayola branded frozen treats in
prepackaged containers ranging from pints to gallons. "CoolBrands has been
developing fun and innovative frozen novelties with some of the best brands in
the industry," says Ilana Wilensky, Account Executive at Nancy Bailey &
Associates. "We felt confident that they would take the Crayola brand equities
and translate them into incredible products."

Crayola Frozen Novelties are fun, colorful and flavorful treats that kids will
love and Moms can feel good about giving to their children. The delicious treats
will have "Better for You" benefits that are consistent with the qualities
parents have come to expect from the









Crayola brand. "CoolBrands is thrilled to partner with Binney & Smith and bring
the Crayola brand alive in ice cream and frozen novelties," said Matthew Smith,
Vice President of Marketing for CoolBrands International Inc. "Crayola is
synonymous with color and fun, making for an exciting line of products that
celebrates the variety of colors and flavors that Moms and kids look for in
frozen snacks." CoolBrands will launch the line early next year.

About Crayola: Since its inception in 1903, the Crayola brand has grown into one
of the most respected and recognizable brands in the consumer marketplace.
Today, consumers equate the brand with color, fun, quality and development, all
the characteristics that are reinforced in its growing product line. Currently
the company makes more than 100 different crayon colors as well as an array of
art materials to stimulate children's creative development - while having fun!

About CoolBrands: CoolBrands International is a leader in the consumer products
and franchising segments of the frozen dessert industry, marketing a diverse
range of ice cream, frozen novelties, and frozen desserts under nationally and
internationally recognized brand names. CoolBrands is the pre-eminent company in
the fast-growing "better-for-you" ice cream category.

About Nancy Bailey & Associates: Founded in 1982, Nancy Bailey & Associates has
been a pioneer and leader in developing and managing licensing programs for many
of America's Fortune 500 companies. The company has over 80 years combined
experience in licensing. The company has offices in Miami, Atlanta, Denver, Iowa
City and Tokyo.

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.