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."

Copyright Business Wire 2006

Light Waves Concept, Inc.

Light Waves Concept, Inc.

More from Light Waves Concept, Inc.