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COLOR KINETICS AND MARTIN PROFESSIONAL
ANNOUNCE LICENSING AGREEMENT
Respective market leaders align as Martin licenses Color Kinetics'
patent portfolio to enter intelligent LED lighting space
Boston, MA USA and Aarhus, Denmark - May 3, 2006 - Color Kinetics Incorporated (NASDAQ: CLRK) and Martin Professional, respective leaders in LED and automated lighting, today announced that Martin will license Color Kinetics' patent portfolio to enable its entry in the fast-growing global market for intelligent LED lighting.
Martin is a $160 million company and 20-year leader in automated entertainment lighting. Its premier MAC series of moving head lights, among others, is pervasively used to light high-profile world concert tours, television studios and theatrical performances. In recent years Martin has also emerged as a leading provider of dynamic lighting environments for indoor and outdoor architecture. Through the agreement, Martin will have access to Color Kinetics' worldwide patent portfolio to develop and market its first line of multicolor LED-based lighting systems - applying its years of market expertise and distribution channels to the market opportunity for LED lighting.
"This agreement marks an important relationship for Martin as we look to bring our first LED-based products to market this year and help drive adoption of this fast-emerging technology," said Christian Engsted, President and CEO, Martin Professional. "We recognize that LEDs will prominently impact the global lighting market, and believe that leveraging Color Kinetics' developed patent portfolio will strengthen our competitive position in this new and highly anticipated market direction for Martin."
"Martin Professional has long been an industry leader in entertainment lighting, and their decision to work with us reflects another milestone in the validation of Color Kinetics' patent portfolio," said Bill Sims, President and CEO, Color Kinetics. "This agreement underscores our strategy to create a universal foundation for intelligent LED lighting, in part by enabling third-party product development through licensing. We believe this will benefit the industry at large by enabling new market entrants that can further fuel adoption."
Martin's forthcoming line of LED-based systems is scheduled for commercial release in conjunction with the PLASA tradeshow in London this September.
About Color Kinetics
Color Kinetics Incorporated (NASDAQ: CLRK) transforms environments through new, dynamic uses of light. Its award-winning lighting systems and technologies apply the benefits of LEDs as a highly efficient, long lasting, environmentally friendly, and inherently digital source of illumination - reinventing light itself as a highly controllable medium. Color Kinetics also enables widespread adoption of LED lighting through OEM and licensing partnerships in diverse markets. The company is headquartered in Boston, MA with offices in the UK, China, and Japan. More information is available at www.colorkinetics.com.
About Martin Professional
Martin Professional A/S is a producer and distributor of automated lighting, high technology luminaires utilized throughout all sectors of the entertainment industry. Martin also produces Mach speaker systems and Jem smoke machines giving the company the ability to offer a complete entertainment package. Other important areas of application include the growing market for indoor and outdoor architectural and promotional lighting. Martin offers both dedicated exterior luminaires and specialized lights for retail settings. The company is headquartered in Aarhus, Denmark and operates an extensive network of subsidiaries and distributors in over 90 countries around the globe. For more information please visit www.martin.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, 2005, File Number 000-50798, and most recent 10-Q, each as filed with the Securities and Exchange Commission.
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