Cono Italiano Announces the Acquisition of the North American Distribution, Manufacturing and Licensing Rights to "Pizza Cono"

RED BANK, NJ–(Marketwire – August 20, 2010) –  Cono Italiano, Inc. (OTCBB: CNOZ) announces the acquisition of the North American Distribution, Manufacturing and Licensing Rights for “Pizza Cono,” the developer of a drip-free cone made from proprietary dough designed to be consumed while on the go, from Spuntibreak S.r.l. and Pizza Hands of Milan, Italy. Pizza Hands can be identified worldwide by its trademark “P Group,” with licensees throughout the world and sales in excess of $40M in 2009.

Mitchell Brown, CEO of Cono Italiano, Inc., stated, “We are anxious to introduce Pizza Cono to the North American Market and gain the company’s market share of the $4.4 billion frozen pizza category. Frozen pizza is among the fastest growing categories in supermarkets and convenience stores.”

Cono Italiano and its licensor, Pizza Hands, hold several U.S. and International patents for both the design and microwave preparation of the cone. The microwave patent enables the consumer to cook a frozen filled cone in 3 minutes or less in a microwave, TurboChef® Tornado, or any high speed efficiency oven currently being used in most quick service restaurants (QSRs), fast food chains and convenience stores throughout North America. Mr. Brown went on to say, “The company’s current and future customers have suggested we offer a microwaveable product for their clientele to maximize sales.” This is instrumental in the growth of the company’s sales and revenues, as well as increasing its customer base.

Fast food restaurants represent one of the largest segments of the food industry with over 200,000 restaurants and $120B in sales in the U.S. Convenience store sales for 2009 were $633.9B.

About Cono Italiano, Inc.:

Cono Italiano, Inc. owns the North American distribution and manufacturing rights for Pizza Cono. This Pizza Cone is designed to be a drip-free, spill-free cone-shaped pizza made of proprietary dough and filled with freshly selected ingredients. The Company intends that the Pizza Cone will be distributed through the fast food market. The Pizza Cone will be distributed to quick service restaurants (QSRs), takeaways and leisure locations. These establishments include typical fast food chains, supermarkets, convenience stores, entertainment facilities and sports arenas.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management’s views and assumptions regarding future events. Actual results may differ materially from forward looking statements due to various factors beyond the control of the Company. For further information regarding risks and uncertainties associated with the Company’s business, please refer to the Company’s filings which are publicly available on the website of the U.S. Securities and Exchange Commission.

For further information please visit www.conoitaliano.com.