HONG KONG, April 8, 2008 /Xinhua-PRNewswire/ -- Lightscape Technologies
Inc. (OTC Bulletin Board: LTSC), a provider of large scale LED screens and
installations, LED lighting design solutions, and advanced lighting products,
today announced that its joint venture has completed the installation of its
first mega-sized LED outdoor advertising display in Beijing, China, with
another to follow by early May.
The installations are the initial projects launched through the joint
venture agreement between Lightscape Technologies and Beijing Xintong Media &
Cultural Development Co. Ltd. (''Xintong Media'') to build an LED-based
outdoor advertising network in China. The properties where the LED screens
are being installed are owned by Xintong Media's parent the New World Group.
The first LED display was installed on the outside overpass wall of a
shopping mall in the Chongwen District of Beijing. The LED screen, measuring
264 square meters in area (approximately 2,842 square feet), began operating
in early April.
The second LED outdoor advertising display is in the process of being
installed on the outside fa?ade wall of a shopping mall, also in the Chongwen
District of Beijing. Installation of the LED screen, measuring 150 square
meters in area (approximately 1,615 square feet), is scheduled to be completed
by early May.
Bondy Tan, President and CEO of Lightscape Technologies commented, ''We
are very pleased to begin the initial installations of our mega-sized LED
screens in Beijing with our joint venture agreement partner Xintong Media.
These installations represent the first two screens targeted to be installed
under phase one of the joint venture agreement to build a national LED outdoor
advertising network in tier-one cities in China."
Continued Mr. Tan, ''These initial LED displays are being installed on
prominent buildings in high-traffic locations in Beijing. Based on the
internal research of the joint venture management team and supported by an
external research report, a combined average of at least 19 million people per
month are expected to pass by these two screen locations. The joint venture's
ability to place the LED screens in these prime locations, coupled with
Xintong Media's established sales channels with advertising clients, is
expected to enhance the ability to attract top-tier advertisers to display
their content on these mega-sized LED screens.''
The installation work at each site encompasses design and supply of the
LED screens, software and related hardware for the playback of the content to
be displayed on the LED screens.
A minimum of twenty five mega-sized LED outdoor advertising displays are
targeted to be installed to establish a strong advertising network in tier-one
cities in China by the joint venture by the end of calendar year 2009. In
2010 and beyond, the joint venture intends to expand its network of mega-sized
LED outdoor advertising displays to include tier-two cities for the completion
of a unique national advertising network across China.
About Lightscape Technologies
Lightscape Technologies Inc. (OTC Bulletin Board: LTSC) delivers
innovative lighting design solutions and advanced lighting products. The
company designs, markets and sells large scale LED screens and LED-based
lighting systems, operates LED advertising screens, and provides LED screen
rentals. Through a joint venture agreement, Lightscape Technologies is
building an LED-based outdoor advertising network in China focused on
mega-sized LED screens in prime locations. Lightscape Technologies also
manufactures and sells HID (High-Intensity Discharge) lighting products and
Ultra High-Pressure Mercury Lamps. Lightscape Technologies is headquartered
in Hong Kong, and the company has offices in Singapore, China and Macau. For
additional information, please visit http://www.lightscapetech.com.hk .
Cautionary Disclaimer - Forward-Looking Statements
This news release contains ''forward-looking statements", as that term is
defined in Section 27A of the United States Securities Act of 1933, as amended,
and Section 21E of the United States Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, among others, the estimation,
expectation and/or claim, as applicable, that: Lightscape Technologies expects
to formally close its joint venture agreement with Xintong Media; the joint
venture between Lightscape Technologies and Xintong Media intends to build an
LED-based outdoor advertising network in China; the joint venture expects to
install an LED display on the outside facade wall of a shopping mall in the
Chongwen District of Beijing by early May; the joint venture expects to
install a minimum of twenty five large-scale LED screens in tier-one cities in
China by the end of 2009; the traffic at the locations of the two initial LED
screens is expected to be a combined average of at least 19 million people per
month; the joint venture intends to attract top-tier advertisers to display
their content on the initial two LED screens; and in 2010 and beyond, the
joint venture intends to expand its network of
large-scale outdoor advertising displays to include tier-two cities in China.
Actual results could differ from those projected in any forward-looking
statements due to a variety of risks, uncertainties and other factors,
including, but not limited to, delays in the supply of LED screen modules and
other hardware; the joint venture's ability to attract advertisers to display
advertising content on its LED screens; risks of downturns in economic
conditions generally and in China specifically; competition with larger
companies; the availability of timely financing; and the company's ability to
manage growth. These forward-looking statements are made as of the date of
this news release and the company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements. Although the
company believes that the beliefs, plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance
those beliefs, plans, expectations, or intentions will prove to be accurate.
Investors should consider all of the information set forth herein and should
also refer to the risk factors disclosed in the company's periodic reports
filed from time-to-time with the Securities and Exchange Commission and
available at http://www.sec.gov .
SOURCE Lightscape Technologies Inc.