Dyer & Berens LLP Files Class Action Lawsuit on Behalf of NexCen Brands Inc. Investors

DENVER, May 29, 2008 (Lawfuel) — Dyer & Berens LLP
(www.DyerBerens.com) today announced that it has filed a class action
lawsuit on behalf of purchasers of the common stock of NexCen Brands,
Inc. (“NexCen” or the “Company”) (Nasdaq:NEXC) between May 10, 2007 and
May 19, 2008 (“Class Period”). The complaint was filed in the United
States District Court for the Southern District of New York and charges
NexCen and certain of its officers and directors with violations of the
Securities Exchange Act of 1934. A copy of the complaint is available
online at www.DyerBerens.com.

If you are a purchaser of NexCen common stock during the Class Period,
you have the legal right to petition the court to be appointed a “lead
plaintiff.” A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. Any such
request must satisfy certain criteria and be made on or before July 28,
2008. If you are a NexCen investor and would like to discuss a
potential lead plaintiff appointment, or your rights and interests with
respect to the lawsuit, you may contact Jeffrey A. Berens, Esq. at
1-888-300-3362, 303-861-1764 or via email at [email protected]

The class action complaint alleges that the defendants misrepresented
and failed to disclose that: NexCen was able to finance a portion of
its Great American Cookies acquisition by agreeing to an
accelerated-redemption feature, which would force the Company to pay
back half of its borrowing by a certain date; the Company was unable to
comply with this accelerated-redemption feature, which would reduce the
amount of cash available to the Company; the Company had no reasonable
basis for its earnings guidance for fiscal 2008; and as a result of the
foregoing, the Company’s ability to continue as a going concern was in
serious doubt.

On May 19, 2008, the Company announced that it expected to amend its
Form 10-K annual report for the year ended December 31, 2007 and that
its prior financial guidance for 2008 was “no longer applicable.” In
response, shares of the Company’s stock fell more than 75%, on heavy
trading volume.

Dyer & Berens LLP specializes in complex class action litigation on
behalf of injured investors throughout the nation. The firm’s extensive
experience in securities litigation, particularly in cases brought
under the Private Securities Litigation Reform Act, has contributed to
the recovery of hundreds of millions of dollars for aggrieved
investors. Its attorneys have served as lead or liaison counsel in many
securities fraud class actions, including: In re Qwest Comm’ns Int’l
Sec. Litig.; Croker v. Carrier Access Corp.; UFCW Local 880-Retail
Employers Joint Pension Fund v. Newmont Mining Corp.; Rasner v.
FirstWorld Comm’ns, Inc.; In re ICG Comm’ns Sec. Litig.; Angres v.
Smallworldwide, PLC; In re Ultimate Electronics, Inc. Sec. Litig.;
Kerns v. SpectraLink Corp.; Queen Uno Ltd. v. Coeur d’Alene Mines
Corp.; Toothman v. One-Stop Wireless of America; Gregg v. Sport-Haley,
Inc.; and In re Tele-Communications, Inc. Sec. Litig.

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