NexCen Brands, Inc. (Nasdaq: NEXC) (“NexCen”) announced today that it has acquired the Great American Cookie Company (“Great American Cookies”) from Mrs. Fields Famous Brands, LLC (“Mrs. Fields”). The purchase price of the transaction is $93.7 million, and consists of approximately $89.0 million of cash and NexCen common stock valued at approximately $4.7 million. This transaction adds another treat brand to the four brands in NexCen’s quick-service restaurant (QSR) portfolio, which includes: MaggieMoo’s, Marble Slab Creamery, Pretzel Time, and Pretzelmaker. The Great American Cookies acquisition marks the ninth brand added to NexCen Brands portfolio and increases its franchise locations from 1,600 to 1,900 locations worldwide.

NexCen plans to acquire three to five additional foodservice brands this year, according to NexCen President and CEO, Robert D’Loren, who spoke with QSR about the deal this afternoon. “Our plan is to created points of distribution for all our products,” D’Loren said.

To that end, Maggie Moo’s and Marble Slab will sell Great American–branded products, while Great American’s mall stores will sell grab-and-go frozen treats.

Founded in 1977, the Great American Cookie Company sells cookies, cupcakes, brownies, and smoothies to a diverse and loyal customer base. The brand is the No. 1 mall-based cookie system in the United States. As of December 31, 2007, Great American Cookies had nearly 300 franchised units primarily located in the continental United States.

For a portion of the purchase price, NexCen accessed its debt facility with BTMU Capital Corporation, which was increased from $150 million to $181 million.

For the 12 months ended December 31, 2007, aggregate pro forma unaudited revenues and operating income for the Great American Cookie Company were approximately $26 million and $13 million, respectively. NexCen expects this transaction to be accretive beginning in 2008. Forward 12 months revenues and operating income are expected to be $27 million and $14 million, respectively.

NexCen will discuss this transaction in further detail on a conference call scheduled for Wednesday, January 30, 2008 at 8:30 am EST.