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                       Eskimo Pie: Board Approves Merger

                          NEWS FROM:
                     ESKIMO PIE CORPORATION

901 Moorefield Park Drive         Contact:  Thomas M. Mishoe, Jr.
Richmond, Virginia 23236          Telephone:  (804)-560-8490

               FOR IMMEDIATE RELEASE: May 4, 2000

      ESKIMO PIE BOARD OF DIRECTORS APPROVES MERGER AGREEMENT


     Richmond, Virginia (NASDAQ NNM: EPIE) - Eskimo Pie Corporation announced
today that it has entered into a definitive agreement with CoolBrands
International Corporation (formerly, Yogen Fruz World Wide Incorporated), for
the acquisition of Eskimo Pie Corporation at a purchase price of (U.S.) $10.25
cash per share to shareholders of Eskimo Pie Corporation.  The agreement
provides that, as promptly as practical, Eskimo Pie Corporation will call a
special meeting of shareholders to vote on a merger transaction by which
Eskimo Pie Corporation would become a wholly-owned subsidiary of Yogen Fruz. 
If the proposal is approved by the affirmative vote of at least two-thirds of
Eskimo Pie shares outstanding exclusive of the approximate 17% interest owned
by Yogen Fruz, the merger will be consummated upon satisfaction or waiver of
closing conditions.

     The acquisition agreement also provides that, at the time of the mailing
of proxy material to Eskimo Pie Corporation shareholders for the merger
transaction, Yogen Fruz will commence a tender offer for all shares of Eskimo
Pie Corporation common stock at a price of $10.25 cash per share.  If the
required shareholder vote on the merger transaction is obtained, the tender
offer will be terminated.  If the required merger vote is not obtained, Yogen
Fruz will be obligated to purchase any and all shares of Eskimo Pie stock
tendered, subject to a minimum of approximately 41% of the Eskimo shares not
owned by Yogen Fruz being tendered.  Additionally, the acquisition agreement
provides for a $10.25 cash per share price to be paid to any remaining Eskimo
Pie shareholders in any subsequent merger transaction between Eskimo Pie and
Yogen Fruz or any of its affiliates, the effect of which would be to eliminate
remaining minority shareholders.  Eskimo Pie Corporation said it expected to
call a special meeting of shareholders to be held during the summer to vote on
the Yogen Fruz merger proposal.

     David B. Kewer, president and chief executive officer of Eskimo Pie
Corporation, said that management and the Board of Eskimo Pie believe that
this proposal from Yogen Fruz is in the best interests of Eskimo shareholders.
 Kewer said, "This proposal brings to a successful conclusion what has been an
exhaustive search for a transaction that is in the best interests of our
shareholders."

     Kewer stated that the proposal from Yogen Fruz was subject to customary
closing conditions.  Kewer noted that certain issues that, in the judgment of
Eskimo, had made prior Yogen Fruz proposals impossible to consummate, were no
longer conditions of the acquisition.

     Kewer added, "Eskimo Pie Corporation is a small company in a category
dominated by two global giants, Unilever and Nestle.  Access to additional
financial and strategic resources is important to the success of the Eskimo
Pie brand name, and our partner brands in the frozen novelty category."

     Kewer noted that because of the status of Yogen Fruz under Virginia law
as an "interested shareholder" of Eskimo Pie Corporation, a higher than usual
(or supermajority) vote is required for approval of the merger proposal put
forward by Yogen Fruz.  "Our Board believes the merger proposal is the best
means of effecting an acquisition by Yogen Fruz, and unanimously recommends
approval of the merger.  Nevertheless, we recognize that Virginia law places a
high vote requirement for shareholder approval on a merger with Yogen Fruz. 
Given the tender offer proposal put forward by Yogen Fruz, our Board concluded
the Yogen Fruz concurrent merger proposal and tender offer clearly represents
the best acquisition proposal available."

Eskimo Pie Corporation, headquartered in Richmond, Virginia, created the
frozen novelty industry in 1921 with the invention of the Eskimo Pie ice cream
bar.  Today, the Company markets a broad range of frozen novelties, ice cream
and sorbet products under the Eskimo Pie, Real Fruit, Welch's, Weight Watchers
Smart Ones, SnackWell's and OREO brand names.  These nationally branded
products are generally manufactured by a select group of licensed dairies who
purchase the necessary flavors ingredients and packaging directly from the
Company.  Eskimo Pie Foodservice is a leading supplier of premium soft serve
ice cream, frozen yogurt, custard and smoothies to the foodservice industry.
The Company also sells a full line of quality flavors and ingredients for use
in private label dairy products in addition to the brands it licenses.  




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