announcement re barcelona

LUMACOM LIMITED 2003-05-16 ASX-SIGNAL-G

HOMEX - Perth

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West Australian based Lumacom --- announced today that the first of
its large full-colour video screens, forming part of an advertising
network across Europe, had been officially switched on and is now
fully operational.

It was announced last month that the Barcelona screen located at the
Maremagnum waterfront complex had been contracted to major
international brand advertisers. The one sign is expected to net an
income revenue stream to Lumacom in the order of $A800,000 per
annum.

The Spanish screen represents not only the first installed in Europe
but a launch pad for a network of screens carrying advertising from
high profile international advertisers.

A number of other high profile iconic sites across Europe are being
negotiated for conversion to Lumacom sign systems under similar
arrangements to that of the Barcelona screen.

Lumacom plans to install a network of screens across the ECU in
cooperation with the Mega Profile Limited Group - Europe's largest
outdoor advertising group.

The Mega Group list of advertisers include the likes of Coca Cola,
American Airlines, American Express, Easy Jet, Ikea, Ericsson, Ford,
Motorola, Mercedes, Nike, Orange, Virgin, Volkswagen and Warner
Brothers, among many impressive international brands.

The Managing Director of Lumacom, Mr. Rodd Sala, said today that
"having just returned from Europe and having met with a range of
advertising executives I have seen first hand that there are a vast
number of opportunities stretching from the UK through Spain, into
France, Italy and as far East as Moscow."

He added "Lumacom has entered into a very exciting phase, by striking
up an ideal formula between itself, as provider of the unique Lumacom
technology, and the strength and massive client base offered by major
outdoor advertising companies such as The Mega Group."

Mr. Sala said today "It is difficult to project the number of signs
making up the networks at this stage; however, we expect to enter the
2003/04 financial year with a significant number of outdoor
advertising sites secured for LumaSigns. We expect many of these to
be ordered and processed early in the next quarter."

In parallel with the Company's European operations, Lumacom is
progressing well in the North American market, having announced a
similar joint venture arrangement with the Totius Group for that
region. The Company expects to be in a position to announce other
major joint venture projects involving recurring revenue streams very
shortly.

Authorised by Rodd Sala
Managing Director - Lumacom Limited

FOR FURTHER INFORMATION, refer to www.lumacom.com.au.
Tel: (61-8) 9228 8577 Fax: (61-8) 9228 8677