BURLINGTON, Ontario, Aug. 31, 2005 (PRIMEZONE) -- Light Management Group, Inc. (Pink Sheets:LMGR) (www.lmgr.net) Chairman and CEO, Barrington L. Simon, today announced the commencement of quarterly corporate updates for shareholders. The first Corporate Update will be released at the end of the current quarter, on September 30, and will focus on the Company's current status, as well as its plans for future growth. Future Corporate Updates will be issued at the end of each subsequent quarter.
"I'm very encouraged by what has been happening recently with Light Management," Mr. Simon said. "Our company has the potential to set the world standard in laser technology applications, and I intend to lead it, with the help of our colleagues, exactly there."
"Our experience in the creation and development of radiological scanners, optical lenses, fiber-optical telecommunication and sensing equipment and acousto-optical projection equipment is, I believe, second to none," he added.
The Corporate Update will highlight and expand several recent initiatives that include:
-- Light Management has engaged the services of Quathemetin
Consultants Limited to assist with the restructuring of the
corporation, and its positioning in the international
marketplace;
-- Light Management has recruited new individuals with
international expertise to its Board of Directors, and will
continue its recruitment drive;
-- Light Management is bringing on board a series of corporate
advisers from the telecommunications industry to ensure its
focus on needs and marketing;
-- Light Management is currently carrying out negotiations
internationally with a Latin American nation for sales in the
telecommunications industry;
-- Light Management is currently carrying out further research
and development in laser and other technologies to ensure the
retention of its premier position in laser technology
applications globally; and
-- Light Management is adding to its web page an "Ask the
Scientist" feature. This page will allow visitors to ask
specific technical questions of the LMGR scientific staff,
and have their answers either posted or emailed to the
participant directly. This will be the subject of a further
press release closer to the time the web page is actually
launched.
David J. Haig, Executive Vice President of Quathemetin Consultants commented, "This is an exciting project for Quathemetin. Light Management has the potential to be a leader in laser and other technologies. We intend to help them achieve their potential."
"We're convinced," commented Mr. Simon, "That with Quathemetin and others on board, Light Management will quickly find its rightful place in the global marketplace."
About Light Management Group, Inc. http://www.lmgr.net
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.
Note: This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by LMG with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in financial results, dependence on new product development, rapid technological and market change, failure to complete the manufacture of network equipment on schedule and on budget, financial risk management and future growth subject to risks, and adverse changes in the regulatory or legislative environment. LMG undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.