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Lightscape Technologies Joint Venture Installs Mega-sized LED Outdoor Advertising Display in Beijing

2008-04-08 20:07 1260


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 façade 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.
Keywords: Advertising
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