SOURCE: Global Innovative Systems Inc.

June 01, 2005 09:00 ET

Global Innovative Enters Pilot Program With Television Broadcasts Ltd.

HONG KONG -- (MARKET WIRE) -- June 1, 2005 -- Global Innovative Systems Inc. (OTC BB: GBSY) announced today that its wholly owned subsidiary, Tech Team Holdings Limited ("TTH"), has begun a pilot program with Television Broadcasts Ltd. ("TVB") for its facilities in Hong Kong.

The pilot program consists of a purchase order by TVB for 118 units of TTH's T5 High Efficiency Tubular Fluorescent Luminaires for a total purchase price of approximately US$4,100. Through the pilot program, TTH expects to demonstrate its ability to reduce TVB's current energy usage for lighting by a minimum of 28%. Based on the results of the pilot program, TTH intends to engage in further discussions with TVB related to a comprehensive retrofit project in the second half of 2005 for the supply and installation of approximately an additional 10,000 T5 lighting products at TVB's facilities.

"We are very pleased to begin this pilot program with TVB," said Bondy Tan, President and Chief Executive Officer of Global Innovative. "Based on several of our other successful T5 Fluorescent Luminaire retrofit projects, we are confident that we can deliver the expected savings rate to TVB." Continued Mr. Tan, "TVB is a large, well-known company in The Greater China region, and its management is acutely aware of energy cost reduction options available to further enhance profitability. Our establishment of a pilot program with TVB is an important step towards becoming an energy solution provider to TVB, and we look forward to building a long-term relationship with this client."

Television Broadcasts Ltd. is the largest television station in Hong Kong. In 2003, the company occupied its new 110,000 square meter, state-of-the-art US$280 million production and broadcasting campus known as TVB City. TVB, a Hong Kong-listed company (HKSE: 00511), is the largest producer of Chinese language programming in the world, with programs distributed to more than 30 countries and 30 million people on a daily basis. Tracing its roots to 1967, TVB today has a market capitalization of approximately US$2.3 billion and annual sales of approximately US$489 million.

About Global Innovative

Global Innovative Systems Inc. (OTC BB: GBSY) delivers total energy management solutions. Since 1999, over 100 commercial, industrial, government and multi-residential clients have benefited from Global Innovative's solutions. From energy audits, to customized design, supply of leading-edge products and technical consultancy, Global Innovative delivers solutions which optimize energy consumption, lower costs and enhance competitiveness for clients. Global Innovative operates through wholly owned subsidiary Tech Team Holdings Limited. Our headquarters are in Hong Kong, and we have offices in Singapore, China, Macau, Canada and the United States.

Safe Harbor Provision

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Global Innovative's expectations, and Global Innovative expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to, the ability of TTH to demonstrate minimum energy savings rates acceptable to TVB; TTH's ability to negotiate additional purchase orders with TVB; and other factors which may cause the actual results, performance or achievements of the Global Innovative to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Information concerning potential factors that could affect Global Innovative is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.

Contact Information

  • For more information, please contact:
    Global Innovative Systems Inc.
    Investor Relations
    1-888-852-8838
    Website: www.gistt.com
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