Exhibit 99.1

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|(LENOX LOGO) | (CLARION LOGO)

February 27, 2009 (New York, NY): Clarion
Capital Partners, LLC Wins Auction for Lenox Group Assets

For Immediate Release

New York, NY  Lenox Group Inc. (Lenox) and Clarion Capital Partners,
LLC (Clarion) announced today that a group led by Clarion has won the
bankruptcy auction to acquire substantially all the assets of Lenox, the
well-known china, tabletop and giftware manufacturer and marketer. Peter
Cameron, previously the CEO of Waterford Wedgwood plc and All-Clad
Metalcrafters LLC will become the new CEO of Lenox as soon as the transaction
closes. While the specifics of the sale are not being released, the
transaction, which includes the Lenox, Dansk, Gorham and Department 56 brands,
is believed to be valued at approximately $100 million inclusive of cash and
assumption of certain liabilities of Lenox. The bankruptcy court approved the
Clarion bid after the bidding process was reopened during a hearing on
Wednesday, February 25, 2009.

Marc Utay, the founder and Managing Partner of Clarion Capital Partners
said, We are delighted to have the opportunity to invest in this truly iconic
American brand. Generations of American families have embraced Lenox both in
their everyday lives and on special holiday occasions when they gather with
family and friends. With Lenox on firm financial footing, the Company can now
devote all of its energies to capitalizing on its rich heritage and developing
designs for the next generation of customers. Also, I am pleased to be working
in partnership with Peter Cameron for the fourth time.

Peter Cameron, Lenoxs incoming CEO commented, Joining Lenox
represents an extraordinary opportunity to work with one of the finest American
brands. Lenox represents the high water mark in fine American china. Its
product design and manufacturing capabilities are unrivaled within the US and
around the world. When a customer purchases a Lenox product, he or she is
purchasing the same quality and design aesthetic that has been used in the
White House by each President since 1918 and is routinely used by the State
Department as a gift from our nation to visiting dignitaries and royalty from
around the world. How could anyone not be excited about the opportunity to work
with such an American treasure?

Marc Pfefferle, Lenoxs current CEO, said, We are pleased that Lenox
has found a home with the Clarion team which has the expertise and capital to
grow our great brands. Certainly, Peter Cameron has the knowledge and
experience to provide the leadership and guidance to develop the full potential
of our brands and our employees.

The
transaction is expected to close in March 2009.

Miller
Buckfire & Co., LLC is acting as investment banker and financial advisor to
the acquisition group and Schulte Roth & Zabel LLP is providing legal counsel.
Berenson & Company is acting as financial advisor to Lenox while Weil,
Gotshal & Manges, LLP is providing legal counsel and Carl Marks Advisory
Group LLC is providing management advice.

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Clarion
Capital Partners, LLC, is a New-York based private
investment firm. The firm invests in consumer products, business services,
healthcare services, specialty financial services, retail and niche media and
entertainment. Previous and current investments by the professionals of Clarion
include All-Clad Metalcrafters (cookware), Hartmann (fine leather and travel
goods), Snapple Beverage Company, The Oceanaire, Inc. (fine dining seafood
restaurants), Strategic Outsourcing Inc. (business services), Great Northwest
Insurance Company, Reliant HealthCare Professionals, Inc. (medical staffing),
Crowe Paradis Services Corporation (insurance outsourcing), Imax Corporation
(movies) and Cross MediaWorks Inc. (media services).

Lenox
Group Inc. is a market leader in high quality
tabletop, giftware and collectible products sold under the Lenox brand founded
in 1889, as well as the Dansk, Gorham and Department 56 brand names. The
company sells it products through wholesale customers who operate gift,
specialty and department store locations in the United States and Canada,
company-operated retail stores and direct to consumer channels.

ContactHampton Carney
Paul Wilmot Communications
212-206-7447
hcarney@greatpress.com

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