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COLOR KINETICS COMPLETES MARQUEE INSTALLATIONS IN CHINA
LG Tower, Sands Macao and Grandview Hotel among the latest premiere adopters
of
Color Kinetics' intelligent solid-state lighting systems
Boston, MA - November 3, 2005 - Color Kinetics Incorporated (NASDAQ: CLRK), a leading innovator of intelligent solid-state lighting systems and technologies, today announced a series of newly completed marquee installations in mainland China, reflecting its growing momentum in the region.
Most recently, installation of Color Kinetics' systems was completed at LG Tower, a multi-million dollar construction by LG Building Development Co., Ltd., whose 460-foot towers will be lit by more than 7,600 feet of Color Kinetics' iColor® Accent system.
Additionally, Color Kinetics' systems illuminate Sands Macao and Grandview Hotel in Macau, Garden Hotel in Guangzhou, the China Resource Centre building in Shenzhen, Tianjin (Yi Do Cam) Business Centre in Tianjin, Lilly's Restaurants and Nightclubs in Shanghai, and Chongqing Times Square in Chongqing, among others.
"Color Kinetics' success in mainland China reflects the strength of our technology, depth and quality of our product portfolio, and the timely execution of our on-going expansion in the region. In addition to the resources added this year, we plan to further capitalize on the market's potential in 2006 by increasing our direct sales force, adding new resellers, and extending our partner presence to Shanghai, among other initiatives," said Bill Sims, President and CEO, Color Kinetics.
"With continuing economic growth in the region, we're seeing a major construction boom in business-centric cities like Shanghai, where the number of office buildings is significantly rising, and travel destinations like Macau, where massive casinos and hotels are in development," Sims added. "Moreover, with all the new construction planned for the 2008 Olympic Games and World Expo 2010, we view the Chinese market as a tremendous opportunity to showcase the capabilities of Color Kinetics' technology on a global stage."
According to the China Solid-State Lighting Alliance, China is the world's second largest electricity-generating country, with 12% of its total electricity attributed to lighting. In 2004 the Chinese government selected solid-state lighting as one of ten programs in its next five-year plan to promote energy efficiency. The solid-state lighting program promotes the use of high-efficiency lighting systems in public facilities, hotels, shopping centers, office buildings, and sports venues, as well as in developing automated production facilities. Today many Color Kinetics customers realize energy savings by employing intelligent solid-state lighting in place of conventional sources for colored lighting applications. As LEDs continue to increase in performance while coming down in price, Color Kinetics' systems will become more applicable to general illumination, and therefore allow even greater potential for energy savings on a broad scale.
About Color Kinetics
Color Kinetics Incorporated (NASDAQ: CLRK) is a leading innovator of intelligent solid-state lighting -- enabling light without limits™. The company's award-winning product lines apply the benefits of LEDs to transform the way light is produced, controlled and applied, advancing the adoption of cost- and energy-efficient lighting worldwide. Its systems leverage a patented layer of digital intelligence, called Chromacore®, to generate and control color and white light for use in high-performance lighting and OEM and licensing applications. The company's investment in research and development is reflected by its wide-ranging intellectual property portfolio. Founded in 1997, the company is headquartered in Boston, MA with offices in the UK, China, and Japan. More information can be found at www.colorkinetics.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Color Kinetics Incorporated's business that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements involve risks and uncertainties, are only predictions and may differ materially from actual future events and results. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's Annual Report on Form 10-K for the Twelve Months Ended December 31, 2004, File Number 000-50798, and most recent 10-Q, each as filed with the Securities and Exchange Commission.
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