Leading Proxy Advisory Firm, ISS, Recommends NexCen Brands Shareholders Vote “FOR” Proposed Asset Sale

NexCen Brands, Inc. (PINK SHEETS: NEXC.PK) today announced that RiskMetrics Group’s ISS Proxy Advisory Services (“ISS”), a leading proxy advisory firm, recommends that NexCen Brands’ shareholders vote “FOR” the sale of its franchise business to an affiliate of Levine Leichtman Capital Partners (“LLCP”), as well as “FOR” the additional proposals in the Company’s June 11, 2010 proxy statement to adopt the plan of liquidation for NexCen Brands, reduce the number of shares of the Company’s authorized common stock, and permit adjournment of the Special Meeting (if necessary). The analyses and recommendations of ISS are relied upon by hundreds of major institutional investment firms, mutual funds and fiduciaries throughout the United States.

David S. Oros, Chairman of Board of Directors of NexCen Brands, Inc., stated, “ISS’ recommendation reaffirms our belief that the proposed sale of our business to an affiliate of LLCP represents the most favorable option for all of our stakeholders. This transaction provides for the opportunity to achieve value for our shareholders. We look forward to closing the transaction and urge NexCen Brands’ shareholders to vote “FOR” all four of the proposals.”

In recommending that NexCen shareholders vote “FOR” the asset sale and other proposals on the agenda, ISS concluded its analysis by stating that “non-approval of the liquidation transaction would likely result in foreclosure of NexCen's assets by its creditors or bankruptcy, both of which would wipe out shareholder value. Therefore, the asset sale and liquidation transaction is preferable.”*

As previously announced, under the terms of the sale agreement, LLCP’s affiliate, Global Franchise Group, LLC, will acquire the subsidiaries of NexCen Brands that own the franchise business assets, the Company’s franchise management operations in Norcross, Georgia, and its manufacturing facility in Atlanta, Georgia. As set forth in the Company’s proxy statement, NexCen estimates that, assuming that the asset sale is completed on its current terms and the Company is dissolved, the cash proceeds ultimately available for distribution to the holders of NexCen common stock will be between $0.12 and $0.16 per share of common stock; however, NexCen is unable to predict the exact amount, nature and timing of any distributions to its shareholders. Closing of the sale is subject to various conditions, including approval of the shareholders of NexCen Brands. The transaction is expected to close promptly following the receipt of shareholder approval. Shareholders of record as of the close of business on June 4, 2010 are entitled to vote at the Company’s July 29, 2010 Special Meeting of Stockholders.