Acuity Brands Announces Strategic Alliance with Lighting Science Group to Accelerate the Development and Marketing of LED Products

Business Wire,  May 8, 2008  

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Strategic Alliance will Create LED Lighting for Architectural, Commercial, Industrial, and Infrastructure Sectors

ATLANTA -- Acuity Brands, Inc. (NYSE: AYI) today announced that its wholly-owned subsidiary Acuity Brands Lighting, Inc. ("ABL") has entered into a strategic alliance with Lighting Science Group Corporation ("LSG") (OTC Bulletin Board: LSCG) to develop and launch multiple light emitting diode ("LED") based lighting products. The products will be part of ABL's well-established portfolio, including Lithonia Lighting[R], Holophane[R], Hydrel[R], and Gotham[R].

ABL and LSG will jointly develop selected new products for architectural, commercial, industrial, and public infrastructure use. This alliance is designed to leverage the channel strength, product innovation, delivery capabilities, and brand recognition of ABL in combination with the LED technology know-how, speed of innovation, and rapid design capabilities of LSG.

"This alliance with Lighting Science Group allows Acuity Brands Lighting to enhance its existing LED portfolio using advanced technology," said Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands. "We continue to seek out strong alliances to accelerate our ability to integrate advanced technologies, such as LED, into leading edge fixture design to serve specific customer needs. LSG's patented technology, experienced management team, and expertise in thermal management, driver design, and color control will give us a broader product offering for the growing LED market."

Today, in certain applications, LED light sources surpass traditional technologies in energy efficiency, fixture life, and environmental impact. LEDs consume up to 80 percent less energy than traditional incandescent sources and as much as 50 percent less energy than compact fluorescent lamps. This efficiency translates into a significant reduction in energy costs for the end-user thereby reducing their carbon footprint.

"As one of the largest and most respected lighting fixture providers in the industry, Acuity Brands Lighting has the presence to commercialize breakthrough LED technology broadly to the market in a very meaningful way," said Govi Rao, Chief Executive Officer of Lighting Science Group. "We are proud to be recognized as a trusted partner of such an industry leader. Acuity Brands Lighting's respected brand names will give us access to new global channels and expand the environmental and performance benefits of LED into exciting new areas."

About Acuity Brands

Acuity Brands, Inc. owns and operates Acuity Brands Lighting. With fiscal year 2007 net sales of approximately $2.0 billion, Acuity Brands Lighting is one of the world's leading providers of lighting fixtures and related products and services and includes brands such as Lithonia Lighting[R], Holophane[R], Peerless[R], Mark Architectural Lighting[TM], Hydrel[R], American Electric Lighting[R], Gotham[R], Carandini[R], SpecLight[R], MetalOptics[R], Antique Street Lamps[TM], Synergy[TM], SAERIS[TM] and ROAM[R]. Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 7,000 associates and has operations throughout North America and in Europe and Asia.

About Lighting Science Group

Lighting Science Group Corporation (www.lsgc.com) designs and sells highly energy-efficient and environmentally friendly lighting solutions. Lighting Science Group's patented and patent-pending designs in power management, thermal management, manufacturing processes and other areas seek to reduce energy consumption while delivering environmental benefits and cost savings to the end-user. The company designs and manufactures ready-to-use LED lamps and luminaires, as well as provides customized lighting solutions for architectural and artistic projects worldwide. Lighting Science Group has offices in New York City, California, Florida, Texas, Japan, Netherlands, and the United Kingdom.

About LED Holdings

LED Holdings, LLC, a portfolio company of Pegasus Capital Advisors (www.pcalp.com) holds a majority of the issued and outstanding shares of Common Stock of Lighting Science Group Corporation. Pegasus Capital Advisors is a private equity fund manager with offices in New York, New York and Cos Cob, Connecticut. Founded in 1995, Pegasus provides capital to middle market companies across a wide range of industries, with particular focus on businesses that make a meaningful contribution to society by positively affecting the environment, contributing to sustainability and enabling healthy living.

Forward-Looking Statements

This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that may be considered forward-looking include statements incorporating terms such as "will," "expects," "believes," "intends," "anticipates," "may," and similar terms that relate to future events, performance, or results of the Company and specifically include statements made in this press release regarding development of new products through an alliance with LSG, enhancement of ABL's existing LED portfolio using advanced technology, and giving ABL a broader product offering for the growing LED market. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the expectations or projections expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, customer and supplier relationships and prices; competition; market demand; and economic, political, governmental, and technological factors affecting the Company.

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