Light Management Group Inc. Announces Distribution Contract for South American Subsidiary with Master Distributor Esoluciones S.A.
NORCROSS, Ga.--(BUSINESS WIRE)--March 4, 2002--Light Management Group Inc. (OTCBB:LMGR - news)
Optico Luz SA to Re-Sell NetScreen Technologies Products
Light Management Group Inc. (LMG) (OTCBB:LMGR - news; lmgr.net), developer of new applications in optical and light technologies employing sound waves, today announced that its South American subsidiary, Optico Luz SA, has procured a contract to be a distributor of NetScreen Technologies (Nasdaq:NSCN - news) products for Esoluciones S.A.
According to the terms of the contract, Optico Luz SA will become a VAR (Value-Added Re-seller) for Esoluciones S.A. in the territory of Ecuador. Esoluciones S.A. is a Colombian-based company that distributes software and hardware to clients, along with solutions in remote connectivity, network management, security, internetworking and administration of Computer Science. Esoluciones S.A. is the Master Distributor of NetScreen products throughout the Andean Pact nations of Ecuador, Guyana, Suriname and Venezuela, providing complete infrastructure for support and local service.
NetScreen Technologies develops, markets and sells a broad family of network security systems and appliances that deliver high-performance, cost-effective security for enterprises and service providers. Its security systems and appliances deliver integrated firewall, virtual private network and network traffic management capabilities in a single device using its proprietary application-specific integrated circuit (``GigaScreen ASIC'') and its proprietary security operating system and applications (``ScreenOS'').
Several of NetScreen Technologies' products have won prestigious technology awards. The NetScreen-5XP Operating System, for instance, won the SuperQuest Award for ``Most Promising New Technology'' in the Application Layer Systems and Technology category at the 2001 SuperComm technology exhibition in Atlanta. The SuperQuest Awards are sponsored by SuperComm and CMP Media's tele.com magazine.
Optico Luz SA was launched as a subsidiary of Light Management Group in April, 2001. Its mandate is to enhance and capitalize on the tremendous growth of the fiber optic and telecommunications industries in Latin America. During its first quarter of operation, Optico Luz SA was already in a position of achieving revenue, as announced on July 27, 2001.
``Optico Luz is very proud to re-sell an accomplished internet security product line of such renown and applicability as the NetScreen products,'' said Eduardo Ayala, President, Optico Luz SA. ``Through our new initiative with Esoluciones S.A., Optico Luz will realize revenue as a re-seller of products with tremendous appeal to internet-based businesses and ISPs in a territory with fast-emerging telecommunications concerns.''
Light Management Group Inc. specializes in the development of new applications in optical and light technologies. LMG's breakthrough technology employs sound waves to focus and direct light. LMG has filed for two United States patents in the fiber optics field, both of which could have significant applications in telecommunications, data transmission, and Internet technology. Light Management Group is committed to fulfilling demand for multiple, complex levels of switching within the communications industry.
Cautionary Statement for Purposes of the ``Safe Harbor'' Provisions of the Private Securities Litigation Reform Act of 1995: Statements, other than historical facts, included in the foregoing news release may constitute ``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 statements, which include, but are not limited to, words such as ``expect,'' ``anticipate,'' ``estimate,'' ``plan,'' ``project'' and ``intend'' are based on management's beliefs and assumptions, and on information currently available to management and involve certain known and unknown risks, uncertainties and other factors which may cause these statements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Such factors include, among others, the Company's ability to successfully implement its business plan and integrate any proposed and future business arrangements; potential fluctuations in financial results, dependence on new product development, rapid technological and market change, failure to complete the manufacture of products on schedule and on budget, uncertainties relating to business and economic conditions in markets in which the Company operates and relating to customer plans and commitments; dependence on intellectual property rights; and the competitive environment in which the Company operates and other risks detailed from time to time in the Company's periodic reports filed with the United States Securities and Exchange Commission and other regulatory authorities.