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Eskimo Pie Merger with CoolBrands International Closed on

  October 6, 2000   Business Editors   TORONTO--(BUSINESS WIRE)--Oct. 6, 2000--CoolBrands International,  Inc. (formerly Yogen Fruz World-Wide, Incorporated)  (TSE:COB.)(TSE:YF.A) and Eskimo Pie Corporation announced today that  the closing of the previously announced merger took place today.   The merger agreement was signed on May 3, 2000 and approved by  Eskimo Pie shareholders at its September 6, 2000 Special Meeting of  Shareholders. Eskimo Pie Corporation is now wholly-owned by  CoolBrands.   Under the merger agreement, Eskimo Pie Corporation shareholders  will receive $10.25 cash for each Eskimo Pie share. Instructions for  submitting share certificates for payment will be mailed to Eskimo Pie  shareholders within three business days.   CoolBrands International, Inc. markets a broad range of frozen  novelties and frozen dessert products under the Tropicana, Betty  Crocker, Trix, Yoplait, Colombo, Lucky Charms, and Yoo Hoo brand  names, pursuant to long-term licensing agreements. In addition,  CoolBrands franchises and licenses outlets operated under a Family of  Brands including Yogen Fruz, I Can't Believe It's Yogurt, Bresler's  Ice Cream and Premium Frozen Yogurt, Swensen's Ice Cream, Golden  Swirl, Paradise, Ice Cream Churn, and Java Coast Fine Coffees, with  company-owned, franchised and non-traditional partnership locations in  82 countries as of May 31, 2000.   Eskimo Pie Corporation, headquartered in Richmond, Virginia,  created the frozen novelty industry in 1921 with the invention of the  Eskimo Pie ice cream bar. Today, the Company markets a broad range of  frozen novelties, ice cream and sorbet products under the Eskimo Pie,  Real Fruit, Welch's, Weight Watchers, Smart Ones, Snackwell's and OREO  brand names. These nationally branded products are generally  manufactured by a select group of licensed dairies who purchase the  necessary flavors, ingredients and packaging directly from the  Company. Eskimo Pie Foodservice is a leading supplier of premium soft  serve ice cream, frozen yogurt, custard and smoothies to the  foodservice industry. The Company also sells a full line of quality  flavors and ingredients for use in private label dairy products in  addition to the brands it licenses.