Castle Brands Appoints Alejandra Peña Senior Vice President - Marketing

Castle Brands Inc. (NYSE AMEX:ROX), a developer and international marketer of premium beverage alcohol brands, today announced that Ms. Alejandra Peña has joined the Company as Senior Vice President – Marketing and Brand Director of Pallini. As such, she will be responsible for the marketing of all of the Company's brands globally. She will also have direct responsibility for overseeing the marketing of Pallini liqueurs in the United States.

Ms. Peña brings to Castle Brands 15 years experience in strategy, brand development and marketing in the spirits and wine industry. Prior to joining Castle Brands, Ms. Peña most recently served as Marketing Vice President for Liqueurs and Spirits for Remy Cointreau USA, where she was responsible for the marketing of Cointreau Liqueur and Mount Gay Rum in addition to other brands. Earlier in her career, she was employed with Banfi and served as Marketing Director of Italian Estate Wines. Alejandra started her career as a strategic consultant and is fluent in English, Spanish and Italian.

John S. Glover, the Company’s Chief Operating Officer, commented, "We are pleased to welcome Alejandra to Castle Brands. Her skills and experience in important positions in the spirits and wine industry will be invaluable to Castle Brands as the Company looks to expand brand development and marketing initiatives for its exciting portfolio of products.”

About Castle Brands Inc.

Castle Brands is a developer and international marketer of premium beverage alcohol brands including: Gosling's Rum^®, Jefferson's^®, Jefferson's Presidential Select^TM and Jefferson's Reserve^® Bourbon, Boru^® Vodka, Pallini^® Limoncello, Raspicello and Peachcello, Knappogue Castle Whiskey^®, Clontarf^® Irish Whiskey, Betts & Scholl^TM wines, cc: wines^TM, Celtic Crossing^® Liqueur, Brady's^® Irish Cream, A. De Fussigny^® cognacs, Travis Hasse's Original^®Liqueurs and Tierras^TM tequila. Additional information concerning the Company is available on the Company's website, www.castlebrandsinc.com.

Forward Looking Statements

This press release includes statements of our expectations, intentions, plans and beliefs that constitute "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, related to our marketing and brand development. You can identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "expects," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to uncertainties, risks and factors, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed or implied by these forward looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. These risks include our history of losses and expectation of further losses, our ability to expand our operations in both new and existing markets, our ability to develop or acquire new brands, our relationships with distributors, the success of our marketing activities and our cost reduction efforts, the effect of competition in our industry, economic and political conditions generally, including the current recessionary economic environment and concurrent market instability and our ability to regain compliance with the continued listing standard of the NYSE Amex. More information about these and other factors are described under the caption "Risk Factors" in Castle Brands' Annual Report on Form 10-K for the year ended March 31, 2011, and other reports we file with the Securities and Exchange Commission.

When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the documents incorporated by reference. New risks and uncertainties arise from time to time, and we cannot predict those events or how they may affect us. We assume no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.