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COLOR KINETICS AND SPIN MASTER FORGE LICENSING AGREEMENT
FOR COLOR-CHANGING CHILDREN’S PRODUCTS
Boston, MA USA and Toronto, ON, CANADA - August 15, 2006 - Color Kinetics Incorporated (NASDAQ: CLRK) and Spin Master Ltd. today announced a global licensing agreement that will allow innovative new uses of LED technology in the consumer products market. Through the agreement, Spin Master will have access to Color Kinetics’ patent portfolio to develop and market a line of color-changing children’s lifestyle products.
Spin Master is an internationally recognized developer of children’s entertainment products with multiple award-winning brands, as well as licenses to premier third-party brands including Disney, Marvel and Nickelodeon. Its agreement with Color Kinetics will enable the company’s first use of LED technology, taking advantage of the devices’ compact size and inherent intelligence to create new and novel offerings.
“We continually strive to develop first-of-their-kind products that merge new technologies with creativity, and our relationship with Color Kinetics will allow us to pursue the exciting use of LEDs,” said Anton Rabie, President and Co-CEO, Spin Master. “We look forward to delivering an innovative new product line that explores color and light in fun new ways for children.”
“We welcome the opportunity to work with companies like Spin Master, who identify unique market opportunities for LEDs and thereby introduce the technology to new and broader audiences,” said Bill Sims, President and CEO, Color Kinetics. “This agreement gives Spin Master access to our multi-million dollar investment in intellectual property, and validates the depth and breadth of our portfolio across multiple markets.”
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 Spin Master Ltd.
Spin Master™ Ltd. is a multi-category children’s entertainment company that, since 1994, has been designing, developing, manufacturing and marketing consumer products for children around the world. Spin Master™ is ranked among the top 10 North American toy manufacturers and is a dominant leader in the children’s entertainment industry. Spin Master™ is comprised of such best-selling brands as Air Hogs®™, Aquadoodle™, Bella Dancerella, Black Belts, Bounce ‘Round™, 7-11™ Slurpee Maker, and Moon Sand. Most recently Spin Master™ Ltd. has entered the market of children’s room décor. The Marshmallow™ brand consists of licensed and non-licensed children’s furniture. Spin Master™ employs over 300 people with offices in Toronto, New York, Paris, London, Hong Kong and China. For more information, please visit www.spinmaster.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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