(EMAILWIRE.COM, December 04, 2002 ) -- magink™ display technologies, Inc., a developer of full-color digital ink technologies, on December 4 announced an agreement with Mitsubishi Electric Corporation to create the world's first large-scale, full-color digital ink displays for the outdoor advertising industry. Mitsubishi Electric is a pioneer in large-scale video display equipment and the creator of DIAMOND VISION*. Terms of the agreement, which incorporate technology licensing, product development and marketing, were not disclosed.

By integrating magink™ digital ink technology with Mitsubishi Electric's leadership position in large-scale video display, the companies will offer a cost-effective, flexible and powerful new medium that represents outdoor advertising's next generation. Among its many benefits, the display provides outdoor media companies with new revenue streams, such as the ability to sell space by day-part (an opportunity currently afforded only to broadcast and online advertising); offers advertisers a far more versatile, targeted and high resolution creative canvas; and greatly reduces expenses associated with conventional outdoor advertising such as printing, manpower, and maintenance.

"Utilizing our proprietary digital ink technology, the large-scale digital ink displays manufactured by Mitsubishi Electric will provide genuine revenue-generating and creative opportunities for outdoor media companies, advertisers and advertising agencies," said Ran Poliakine, CEO, magink. "We believe this relationship will help foster a new age of electronic digital outdoor advertising."

For example, a television network could rotate advertisements promoting different programs throughout the day or week, and even have the ability to make changes, such as posting reviews of a brand-new program almost immediately at one location or at every location. All of the changes can be implemented in a matter of minutes from a remote site situated anywhere in the world.

Worldwide, the outdoor advertising market is approximately a $19 billion industry with the U.S. representing $5.2 billion in 2001. The outdoor advertising market includes billboards, stadium and arena signage, transit displays (buses, trains, taxis), and "street furniture" (bus shelters, newsstand/newsrack panels, information kiosks, public telephone panels, etc.).

*DIAMOND VISION is a registered trademark of Mitsubishi Electric Corporation in some countries and areas, including but not limited to the USA and Japan.

About magink™:

magink display technologies, Inc. develops proprietary, full-color, commercially-viable digital ink technologies. The company's mission is to continuously develop revolutionary digital ink core technology and provide highly efficient, variable resolution, full-color, high contrast, low energy and cost effective digital display applications and solutions to a broad array of global industries.

While the company is currently focused on commercializing its digital ink technology for the outdoor advertising market, magink will also be employed with other display applications such as consumer electronic products, in-store point-of-purchase, and promotional displays.

Based in New York City, magink was established in 2000 after a two-year incubation within SixEye Media Technologies Group. Research and development centers are located in the United Kingdom. magink display technologies has attracted a top tier board of advisors, chaired by Don Davidson, former president and CEO of Gannett Outdoor.

About Mitsubishi Electric Corporation:

With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (FTSE: 6503q.l) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. With operations in 35 countries, Mitsubishi Electric Corporation recorded consolidated group sales of 3,649 billion yen (US$27 billion) in the year ended March 31, 2002. Additional information on Mitsubishi Electric Corporation is available at http://www.Global.MitsubishiElectric.com.

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Produced for magink display technologies, Inc.

Contact:

Mike Rosen or Scott Shapiro
Bratskeir & Company
212-679-2233
mrosen@bratskeir.com
sshapiro@bratskeir.com

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Contact Information:
Magink Display Technologies, Inc.
Joseph Nchor
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