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LIGHTING TECHNOLOGIES INTERNATIONAL NAMES BALLANTYNE OF OMAHA EXCLUSIVE DISTRIBUTOR FOR ITS CINEMA AND SPOTLIGHT XENON PRODUCTS
OMAHA, Nebraska and BALDWIN PARK, California (September 21, 2000) -- Lighting Technologies International (LTI), a specialty discharge lighting company that manufactures and markets specialty light sources and related lighting systems, today named Ballantyne of Omaha, Inc. (NYSE: BTN) and its Strong International unit as the exclusive distributor for the sale of its Xenon bulbs to the motion picture and spotlight industries. "This is a stellar opportunity for a quality U.S. equipment manufacturer to join forces with the Xenon light industrys pre-eminent supplier," said John P. Wilmers, Chief Executive Officer and President of Ballantyne. "With the worldwide cinema and digital projection bulb replacement market approaching $60 million annually, LTIs products have the potential to become a significant new razorblade product for our replacement parts business." Ray Boegner, Vice President of Sales & Marketing for Ballantyne agreed, saying, "Having relied on several different manufacturers for our Xenon components over the years, this agreement lets us source our bulbs from a single supplier, creating efficiencies for our theater and specialty lighting product lines and better serving our customers with the highest caliber Xenon products in the world." Ballantyne is a leading manufacturer of motion picture projection and specialty lighting equipment. The distribution agreement covers the cinema Xenon and spotlight markets in both North and South America. LTI President and Chief Executive Officer Ken Luttio added, "We are thrilled to have the opportunity to work with Ballantyne in this capacity. Together we will offer the highest quality, U.S. manufactured lamps and lighting equipment available on the market today." Ana Simonian, LTIs Director of Sales, added, "This agreement further strengthens our commitment to our customers with a powerful combination of LTIs and Ballantynes excellent service and industry expertise." LTI designs and manufactures a complete line of specialty lighting products including Xenon, mercury-Xenon and metal halide lamps for cinema and digital cinema, video projection, special venue lighting, photo exposure, solar simulation, architectural lighting and entertainment, as well as many other applications. More information is available at http://www.ltilamps.com. Ballantyne of Omaha is the leading U.S. supplier of commercial motion picture projection equipment utilized by major theater chains including AMC, Loews Cineplex and Regal Cinemas, and specialty projection equipment used by location-based entertainment providers such as The Walt Disney Co., Universal Studios and others. Ballantyne also manufactures, rents and leases specialty entertainment lighting products used at top arenas, television and motion picture production studios, theme parks and architectural sites around the world. More information is available at http://www.ballantyne-omaha.com. Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including but not limited to, quarterly fluctuations in results; customer demand for the Companys products; the development of new technology for alternate means of motion picture presentation; domestic and international economic conditions; the management of growth; and, other risks detailed from time to time in the Companys Securities and Exchange Commission filings. Actual results may differ materially from management expectations. |