EXHIBIT 99.1


   CoolBrands International Inc. enters into Amendment to Loan Agreements with
                              JP Morgan Chase Bank

Toronto, September 2, 2005 - CoolBrands International Inc. (TSX: COB.SV.A)
today announced that it has entered into an Amendment to its existing credit
facilities with JP Morgan Chase Bank. The Amendment extends the maturity of the
existing facilities from November 1, 2005 until January 3, 2006 and waives
defaults in its financial covenants resulting from the Company's performance for
the quarter ended May 31, 2005. The Amendment eliminates all of the existing
financial covenants from the loan agreements through the remainder of the term.

This is an important step in the process of refinancing the Company's existing
credit facilities on a long term basis. The amendment to the existing credit
facilities gives the Company more time to finalize refinancing options, while
allowing the Company the flexibility to continue conducting its day-to-day
business activities as usual.

In connection with the Amendment, the Company has granted JP Morgan Chase Bank a
security interest in its personal property assets (other than certain excluded
assets relating to its operations at Americana Foods Limited Partnership),
reduced its outstanding indebtedness to the bank by US$10 million to a total of
US$41 million and has agreed to an increase of the interest rate by 200 basis
points on all remaining outstanding balances to 450 basis points over Libor. In
addition, the Amendment requires the Company to maintain US$20 million of cash
balances. As of September 1, 2005 the Company's cash balance was approximately
US$38 million.

For further information:

U.S. and International                  Canada
Jeremy Fielding/Jon Morgan              Robin Sears
Kekst and Company                       Navigator Ltd.
(212) 521 4800                          (416) 642-6437


About CoolBrands International:

CoolBrands International competes 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.
CoolBrands competes in the fast-growing "Better-for-You" ice cream category with
offerings such as fat free, non-dairy Whole Fruit Sorbet and Atkins Endulge
controlled carbohydrate super premium ice cream. New "Better-for-You" offerings
by CoolBrands include No Pudge! Branded frozen snacks and a line of
"Better-for-Kids" frozen snacks sold under the Crayola, Justice League, Snapple,
Care Bears and Trix Pops brands. CoolBrands also competes in the super premium
ice cream category with the Dreamery Ice Cream and Godiva Ice Cream brands. In
addition, CoolBrands markets a wide variety of "all family" premium ice creams
and frozen snacks under brand names including Eskimo Pie, Chipwich, Tropicana,
Welch's, Yoplait and Welch's.

CoolBrands' subsidiary, Eskimo Pie Frozen Distribution, operates a "direct store
door" (DSD) ice cream distribution system in selected markets 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, frozen snacks and other food products to well known national
retailers, food companies and restaurant chains.

CoolBrands' Foodservice Division manufactures and sells premium soft serve ice
cream and frozen yogurt to the foodservice industry. CoolBrands' Dairy
Components Division 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' Franchising Division franchises and licenses frozen dessert outlets
operated under a Family of Brands including Tropicana Smoothies, Juices & More,
Swensen's Ice Cream, I Can't Believe It's Yogurt, Yogen Fruz, Bresler's Premium
Ice Cream, Golden Swirl and Ice Cream Churn, with company owned, franchised and
non-traditional partnership locations around the world.

For more information about CoolBrands, visit www.coolbrandsinc.com.

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.