re: ++ two istanbul signs + +
ANNOUNCEMENT 21 OCTOBER 2003
Two large LumaPanel signs are destined for the heart of one of the world's most historic and vibrant cities, the immortal Istanbul. Australian technology/ media company Lumacom, in conjunction with its American partners, Totius Media, LLC, have signed a lucrative joint venture agreement with the large New York based, international construction and property conglomerate, the Kiska Group.
The agreement includes an up-front order to provide the prestigious Marmara Istanbul Hotel with two strategically placed signs valued at US $780,000 (A$ 1.1million) of which Kiska will contribute half. All recurring net advertising revenue will be shared 50/50 between Lumacom and Kiska in line with the joint ownership of the LumaSign. This in accordance with Lumacom’s joint advertising, revenue sharing model.
The Marmara Istanbul is one of the most prominent hotel buildings in the city on the ancient crossroads of the world between Asia and Europe. With views as far as the eye can see the LumaPanel signs with a total 260 square metres will become the visual centrepiece to one of the greatest business and cultural centres of the region and home to twelve million people.
The signs are expected to be the first of many for the region with the Kiska group signing a Joint Venture representative agreement for the Turkey region. The agreement is a performance-based agreement developed by Totius in conjunction with Lumacom.
The tripartite agreement was signed off at a meeting held at the Kiska Group’s New York Marmara Hotel, not far from Lumacom’s 4 Times Square project.
The Kiska Group is known from New York to Baghdad for its many construction activities including tunnels, airports, residential and commercial complexes valued at more than US $5 billion. Along with its many commercial arms the group is known for its luxurious hotel chain and resorts.
Totius, Lumacom’s joint venture partners in North America, first introduced its leading edge technology to their colleagues at Kiska this past summer, realizing that it represented a perfect fit to many of Kiska’s operations in the US and abroad.
Kiska is keen to incorporate Lumacom’s technology (LumaPanel and LumaPole) into many of their other high profile locations. They are teaming with Totius Media under the agreement to strategically place several multinational advertisers at this strategic and high impact Istanbul location and other sites throughout the region.
FOR FURTHER INFORMATION ON LUMACOM, refer to www.lumacom.com.au Authorised by: Rodd Sala Managing Director - Lumacom Ltd Ph: 61 8 9228 8577 Fax: 61 8 9228 8677 ++++++++++++++++++++++++++++++++++++
