Light Waves Concept, Inc.

Light Waves Concept Announces New LED Factory

February 10, 2006

NEW YORK–(BUSINESS WIRE)–Feb. 9, 2006–Light Waves

Concept, Inc. CEO Joel Slavis unveiled ambitious plans to increase his

company’s share of the light emitting diode (LED) market by launching a new

overseas operation to manufacture several lines of bulbs. The move comes on

the heels of a third quarter which greatly surpassed expected growth.

Slavis credits the 30% rise in sales to the introduction of LEDs

to his internet commerce site. Slavis began designing LEDs in his

Manhattan headquarters and manufacturing them on his production line

in Brooklyn in 2003. He now sells over 800 LED fixtures and bulbs, in

addition to 1700 varieties of track lights.

“Since their widespread introduction a few years ago, LEDs have

leveled the playing field for independent manufacturers like us,” said

Slavis.

Light Waves’ new factory will be tentatively located in Shanghai

with an initial staff of 50 workers. The line will be re-branded

LED*Waves and production will be headed by a Taiwanese physicist- as

yet unnamed due to previous corporate confidentiality agreements- who

will bring in a small team of designers and technicians. U.S.

Production Manager Shih-Wei Liu will coordinate the initial phase of

the expansion.

Light Waves designs LEDs for a myriad of different applications,

including traffic lights, safety evacuation systems and kitchen

cabinet lights. The factory will enable Light Waves to remain on the

cusp of LED technology, which, according to Haitz’s Law, doubles every

twelve to eighteen months while halving in cost, and control inventory

while cutting costs dramatically.

On its Energy Efficiency and Renewable Energy (EERE) site the

Department of Energy stated a goal to decrease energy spending in the

U.S. by 30% by the year 2025 through the use of LEDs in its Building

Technologies Program. The semiconductors use 10% of the energy

expended by standard bulbs and last up to ten years.

“Our 3 watt recessed High-Power LED Cabinet Light, which is 25X

stronger than a standard LED, and our 88 LED Globe- a screw-in light

bulb capable of producing between 30 to 45 watts- will be the first

two models to roll off the new line,” said Slavis. “Within two years

we expect to be manufacturing an LED bright enough to compete with any

bulb on the market.”