FOR IMMEDIATE RELEASE FEBRUARY 25, 2008

Master Franchisee Expands Company's Presence Globally in Asia

February 25, 2008 // Franchising.com // ATLANTA,- Shoebox New York (Shoebox), a top women's multi-brand retailer for luxury footwear, handbags and accessories, and its parent company NexCen Brands, Inc. (Nasdaq: NEXC) announced the signing of a master franchise agreement in South Korea. The Shoebox expansion leads the first entry for this franchise globally. The agreement with Magneato International, Inc. is for a minimum of 20 stores over a 25 year term.

"We are very excited to be the first to sign a global agreement for the Shoebox concept" said Scott Cho, CEO, Magneato International, Inc. "In conjunction with the initial entrance of Shoebox into South Korea, this is a giant step towards the eventual expansion into the other lucrative high-end luxury Asian Markets. We look forward to our continuing relationship with NexCen Brands."

Shoebox (www.shoeboxny.com)

Since 1954, Shoebox has been New York's top women's multi-brand retailer for luxury footwear, handbags and accessories. Known for its vast product assortment and trend-setting styles, Shoebox offers women the latest fashions from top European and American designers such as Jimmy Choo, Stuart Weitzman, D&G, Giuseppe Zanotti, Marc Jacobs, Chloé, Casadei, Salvatore Ferragamo, and Michael Kors.

Shoebox's exceptional product offering coupled with its personalized customer experience, has garnered a dedicated following of sophisticated women worldwide.

NexCen Brands, Inc. (www.nexcenbrands.com)

NexCen Brands, Inc. is a vertically integrated global brand management company focused on assembling a diversified portfolio of intellectual property-centric companies operating in the consumer branded products and franchise industries. The Company owns, licenses, franchises and markets a growing portfolio of consumer and franchise brands including The Athlete's Foot®, Bill Blass®, Great American Cookies®, MaggieMoo's®, Marble Slab Creamery®, Pretzel Time®, Pretzelmaker®, Shoebox New York™ and Waverly®.

The Company licenses and franchises its brands to a network of leading retailers, manufacturers and franchisees that includes every major segment of retail distribution from the luxury market to the mass market in the U.S. and in over 50 countries around the world, and consists of approximately 1,900 franchised stores. NexCen, through its information technology, franchisee support systems and advertising, marketing and public relations team, markets its brands to continually drive greater consumer awareness and brand equity for each of its brands. NexCen touches nearly every aspect of a consumer's lifestyle from the food they eat to the furnishings in their homes and the clothes and footwear they purchase.

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