SOURCE: Lightscape Technologies Inc.

May 05, 2008 09:17 ET

Lightscape Technologies Forms Strategic Partnership With Major Advertising Agency

Agreement With Ogilvy & Mather Affirms the Breadth of Growing Network of LED Billboards; Royce Yuen, Chairman of Ogilvy & Mather Hong Kong Joins Lightscape's Advisory Board

HONG KONG--(Marketwire - May 5, 2008) - Lightscape Technologies Inc. (OTCBB: LTSC), an operator of outdoor LED billboards and provider of LED solutions, today announced that it has signed an agreement with a unit of Ogilvy & Mather Group, a leading global advertising agency, in order to secure advertising contracts for Lightscape's growing LED media network in China and Hong Kong.

The agreement establishes a framework through which Lightscape will offer its portfolio of large-scale, high-resolution LED billboards to clients of Ogilvy & Mather as they develop their advertising and media-planning strategies. In addition, Ogilvy & Mather will refer suitable new LED billboard locations to Lightscape, which will subsequently be developed by Lightscape to further enhance the breadth of its network. Lightscape's growing network of LED billboards and its full-service LED solutions capability presents a highly attractive advertising channel for global brands that want to reach affluent consumers in Hong Kong and China. To strengthen the commitment of this partnership, Royce Yuen, Chairman of Ogilvy & Mather Group in Hong Kong has become a member of Lightscape's Advisory Board.

Bondy Tan, President and CEO of Lightscape, commented, "We are very pleased to form this relationship with Ogilvy & Mather, a global leader with an impressive client roster of some of the world's most recognizable consumer brands. This agreement is the latest in a series of strategic partnerships that Lightscape has entered to realize its goal of becoming the leading outdoor LED media company in Asia."

Lightscape is rapidly building up its LED billboard media network in prime locations in Hong Kong, and also in China through its joint venture arrangement with a subsidiary of New World TMT Ltd announced in February of this year.

"This partnership with Ogilvy & Mather affirms that Lightscape's growing network of LED billboards has the breadth and reach required to attract top-tier advertisers," continued Tan. "We are well positioned to capture the enormous potential of the outdoor LED advertising market."

Royce Yuen commented, "We're pleased to team up with Lightscape to offer our clients the most cutting-edge media channels to both attract new customers and reaffirm their global positioning. LED panels provide a unique alternative for advertisers to expose their brands in a dynamic and interactive manner in the market. This 360 degree method of customer engagement is indeed what we believe and practice in effective brand management."

Ogilvy & Mather is one of the largest full-service advertising agencies in the world, operating in 125 countries including offices in Hong Kong and all major cities in China. Founded in 1948, the company is a subsidiary of the WPP Group, the world's largest communications services group. Ogilvy & Mather builds brands for a client list which includes major multi-national companies as well as prominent China domestic brands.

New World TMT Ltd. is the parent company of Lightscape's partner in a joint venture agreement to build an outdoor LED billboard network in China. The properties where the LED billboards are being installed by the joint venture are owned by New World TMT Ltd.'s parent the New World Group.

About Lightscape Technologies

Lightscape Technologies Inc. (OTCBB: LTSC) operates outdoor LED billboards and provides LED lighting solutions. The company designs, markets, sells and installs large-scale LED screens and LED lighting systems, operates outdoor LED advertising billboards, and provides LED screen rentals. Through a joint venture agreement, Lightscape is building an outdoor LED media network in China focused on LED billboards in prime locations. Lightscape also manufactures and sells HID (High-Intensity Discharge) lighting products and Ultra High-Pressure Mercury Lamps. Lightscape is headquartered in Hong Kong, and the company has offices in Singapore, China and Macau. For additional information, please visit 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 expects to rapidly build up an LED billboard media network in prime locations in Hong Kong, and in China through its joint venture agreement with a subsidiary of New World TMT Ltd.; Lightscape expects to formally close its joint venture agreement with a subsidiary of New World TMT Ltd.; Ogilvy & Mather will refer suitable new LED billboard locations to Lightscape, which will subsequently be developed by Lightscape to further enhance the breadth of its network; and Lightscape expects to attract top-tier advertisers to display their content on its LED billboard media network. 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; Lightscape's ability to formally close its joint venture agreement with a subsidiary of New World TMT Ltd.; Lightscape's and the joint venture's ability to attract top-tier advertisers to display advertising content on its network of LED billboards; risks of downturns in economic conditions generally and in China and Hong Kong specifically; competition with larger companies with larger, more established digital out-of-home media networks; 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 www.sec.gov.

Contact Information