LCUT Lifetime Brands Inc

Mill Road Capital is pleased to announce that it sent the following letter to the Board of Directors of Lifetime Brands, Inc. (Nasdaq:LCUT) earlier this afternoon.

  March 13, 2017   Board of Directors Lifetime Brands, Inc. 1000 Stewart Avenue Garden City, NY 11530  

Re: Notice of Acquisition Proposal

Members of the Board:

Mill Road Capital Management LLC and its affiliated funds (“Mill Road”) are long time stockholders of Lifetime Brands, Inc. (the “Company”), first purchasing shares in 2011. As of March 10th, 2017, Mill Road owned in excess of 10% of the Company and had a cost basis of approximately $13.50 per share.

As one of the Company’s largest stockholders, we have always been highly impressed with the Company and its management team. We think Jeff Siegel has done an outstanding job as CEO and leads a strong and deep bench of talented people.

Accordingly, Mill Road is pleased to submit an offer to acquire all shares of the Company’s stock at a cash price of $20.00 per share. This price represents a premium of 37.5% to the closing price on March 10th, 2017, of $14.55, and is a premium to any price at which the stock has closed since 2008.

Mill Road is a private investment firm focused on investing in and partnering with publicly-traded micro-cap companies. Over the last several years, we believe that Mill Road has completed more going private transactions with these companies than any other firm. We know the Company well and are prepared to commence negotiation of definitive agreements and business, financial, and legal due diligence immediately. We expect that with the cooperation of the Company the period required to complete our due diligence will be brief. Needless to say, this offer is not binding on Mill Road; binding legal obligations of Mill Road and the Company will be created only through execution and delivery of definitive agreements.

You may contact me directly at (203) 987-3504 or Justin Jacobs at (203) 987-3505. I look forward to discussing our proposal at your earliest convenience.

Sincerely,

Mill Road Capital Management LLC

By:

Scott Scharfman

Management Committee Director

About Mill Road Capital

Mill Road Capital is a private investment firm focused on investing in and partnering with publicly traded micro-cap companies in the U.S. and Canada. The firm has flexible, long-term capital with the ability to purchase shares in the open market, buy large block positions from existing shareholders, provide capital for growth or acquisition opportunities, or execute going-private transactions. The firm has raised approximately $670 million of aggregate equity capital commitments and has offices in Greenwich, CT and the San Francisco Bay Area. More information can be found at http://www.millroadcapital.com.

This communication is not an offer to purchase or a solicitation of an offer to sell any securities. This communication relates to an acquisition proposal which Mill Road Capital Management LLC (“Mill Road Capital”) has made to acquire Lifetime Brands, Inc. (“Lifetime”). Any such transaction would only be made through documents filed with the U.S. Securities and Exchange Commission (“SEC”). No assurance can be given that any such transaction will occur. If such transaction proceeds and such documents are filed with the SEC, Lifetime stockholders are urged to read such documents carefully in their entirety if and when they become available, as they will contain important information about the proposed transaction. Lifetime stockholders would be able to obtain such documents (when available) free of charge at the SEC's web site, www.sec.gov or from Mill Road Capital at www.millroadcapital.com or at Mill Road Capital Management LLC, 382 Greenwich Avenue, Greenwich, Connecticut 06830.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170313006456/en/

Mill Road CapitalScott Scharfman, (203) 987-3504