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Happiness Ltd. is the third studio album, and second major release since signing with Sire Records by Hot Hot Heat. The album was released on September 11, 2007. It is their first album without original member Dante DeCaro.
The song "5 Times Out of 100" originally appeared on Hot Hot Heat's earlier release, Knock Knock Knock. The album was also released as a Deluxe Limited Edition with a bonus DVD containing the fifty-minute "Harmonicas and Tambourines" making-of documentary.