HONG KONG, Feb. 20 /Xinhua-PRNewswire/ -- Lightscape Technologies Inc.
(OTC Bulletin Board: LTSC), a provider of innovative lighting design solutions,
advanced lighting products and customized energy management solutions, today
announced that it has signed a Memorandum of Understanding to develop an
economic information broadcasting system in Hong Kong and China.
The Memorandum of Understanding was signed on February 15, 2008 with
CEInet Data (H.K.) Co., Limited, the Hong Kong branch of the China Economic
Information Network ("CEInet"). Founded in 1996, CEInet is sponsored by the
China State Information Center (SIC), a government think tank affiliated with
the National Development and Reform Commission (NDRC), China's top macro-
economic authority and planner. CEInet is a national information network in
China that produces a broad range of Chinese economic information for use by
governments, financial markets, academic communities, corporations and
overseas investors. CEInet's economic information includes economic statistics,
trends and forecasts, government and regulatory information, industry research
reports and real-time business news.
The Memorandum of Understanding proposes to appoint Lightscape
Technologies Inc. as the exclusive partner of CEInet to broadcast CEInet's
economic information and real-time news in China and Hong Kong through
Lightscape's network of indoor and outdoor LED screens. As part of the
development project, Lightscape would provide banner space on each of its LED
screens to display a variety of economic information and business news
produced by CEInet.
Bondy Tan, President and CEO of Lightscape Technologies commented, "We are
very pleased to sign this memorandum with CEInet. Through CEInet's established
network of 150 data sources, 2000+ field resources, years of business history,
and experienced market research team, we have the opportunity to access an
unparalleled source of economic and business content to display on the network
of LED screens which we are currently establishing throughout China and Hong
Kong. Our ability to form relationships with strong content providers such as
CEInet enhances our ability to secure rental contracts for the placement of
our new media LED screens in premier locations, and also to attract top-tier
advertisers thereby maximizing the advertising revenue generated by our
screens."
Dong Jian Quan, Director of the Hong Kong branch of CEInet commented, "We
are confident in Lightscape's management team and are pleased to establish
relations with them. This agreement provides strong opportunities for CEInet
to extend the distribution of its economic and business information in order
to better serve our existing markets, and to reach new markets. We have always
been supportive of making our information resources accessible through new
channels and technologies, and Lightscape's new media LED screen network is a
perfect example. We look forward to working together with Lightscape for the
mutual benefit of both parties."
Under the terms of the Memorandum of Understanding, the parties have
agreed to apply their best efforts to execute a formal agreement relating to
the establishment of an economic information broadcasting system in Hong Kong
and China before June 30, 2008.
About Lightscape Technologies
Lightscape Technologies Inc. (OTC Bulletin Board: LTSC) delivers
innovative lighting design solutions, advanced lighting products and
customized energy management solutions. Through wholly owned subsidiary
Lightscape Technologies (Greater China) Limited, Lightscape Technologies
designs, markets and sells LED-based lighting systems, licenses proprietary
LED digital controller software, and provides LED screen rentals. Through
subsidiary Beijing Illumination (Hong Kong) Limited, Lightscape Technologies
manufactures and sells HID (High-Intensity Discharge) lighting products and
Ultra High-Pressure Mercury Lamps. Through wholly owned subsidiary Tech Team
Development Limited, Lightscape Technologies provides total energy management
products and solutions which optimize energy consumption, lower costs, and
enhance competitiveness for clients. Our headquarters are in Hong Kong, and we
have 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 intends
to build a network of LED screens throughout China and Hong Kong; Lightscape
Technologies anticipates that it may become the exclusive partner of CEInet to
broadcast CEInet's economic information and real-time news in China and Hong
Kong; Lightscape Technologies intends to secure rental contracts for the
placement of LED screens in premier locations; Lightscape Technologies intends
to attract top-tier advertisers to maximize advertising revenue generated by
its LED screens; and Lightscape Technologies intends to execute a formal
agreement with CEInet relating to the establishment of an economic information
broadcasting system in Hong Kong and China before June 30, 2008. 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, risks in product development and market acceptance of and demand
for the company's products and services; risks of downturns in economic
conditions generally; competition with larger companies; the ability of the
company to manage its relationship with CEInet and convert the Memorandum of
Understanding with CEInet into a formal agreement; 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.