FORT WORTH, Texas, Oct. 20, 2005 (PRIMEZONE) -- Catalyst Lighting Group, Inc. (OTCBB:CYSL) announced the signing of a memorandum of understanding for a strategic alliance with Vault Technologies, Inc. Vault Technologies is a solutions provider for both surface and enclosed parking facilities. Vault's focus will be delivery and further development of software and related technologies required for management of pay parking lots. Catalyst's focus will be development and delivery of towers, surveillance technologies and related infrastructure for parking lots and other facilities. The companies will work together to pursue market opportunities for both of their existing clientele, as well as those that are expected to arise from their alliance. They look forward to exploiting their combined capability for mutual advantage and customer service.
"Catalyst is excited to become a strategic partner with Vault Technologies," stated Dennis Depenbusch, Chairman and CEO of Catalyst. "Vault has impressive leadership and experience in the parking industry through Greg Knippel and his staff. I am personally thrilled to return to the technology industry through our arrangement with Vault. We will endeavor to integrate with the existing Vault platform to enhance customer value by delivering a solution through our existing distribution channels."
"Our customers are consistently seeking a comprehensive solution to their parking operations and we feel the alliance with Catalyst leverages our capabilities and will bring a unique solution to an existing need," stated Greg Knippel, Founder and President. "We are excited to distribute our product through the Catalyst marketing network. Combining parking management, towers, security surveillance and lighting technologies together dramatically expands the value proposition to customers."
The companies will seek to expand services to the parking industry with comprehensive management and surveillance solutions, hoping to leverage this technology to become the leader in space management and enhanced security, while improving efficiency and customer profitability.
VAULT TECHNOLOGIES, INC.
Vault Technologies, Inc., is headquartered in Dallas, Texas and Calgary, Canada. Vault's platform, a Sarbanes-Oxley compliant solution, allows parking managers to improve parking operations. Vault's solutions are built by parking professionals for parking professionals, with knowledge and insight gained from decades in the field. Vault Technologies does not just manage parking problems, it seeks to improve the functionality and profitability of parking facilities. More information may be found on the company's Web site, www.vaultpark.com.
CATALYST LIGHTING GROUP, INC.
Catalyst Lighting Group is headquartered in Fort Worth, Texas. It has existing operations through its Whitco subsidiary and, through this arrangement with Vault, seeks to establish its technology development division to work strategically with Vault Technologies to further expand its sales to parking facilities. Whitco Company, LP has manufactured and marketed lighting poles and related infrastructure for over 30 years. The company sells and distributes its products through a network of more than 70 agents stationed throughout the United States. More information about Catalyst Lighting Group, Inc. may be found on the company's Web site, www.catalystlighting.com.
Certain of the above statements contained in this press release contain 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. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including but not limited to, risks associated with Catalyst Lighting Group, Inc.'s future growth and operating results, the uncertainty of market acceptance of the company's products, technological change, competitive factors and general economic conditions. Catalyst Lighting Group, Inc. has no duty and undertakes no obligation to update such statement.
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