Victoria, British Columbia, Canada `March 03, 2008` Carmanah Technologies Corporation (TSX: CMH) today announced a two-year contract to supply the State of New Jersey's Lottery Division with LED edge-lit signage. The contract, valued at up to $500,000, extends from March 1, 2008 until February 28, 2010. Under the terms of the contract, Carmanah will provide custom edge-lit hanging window signs and instant ticket dispenser signs that will be used to help New Jersey Lottery retailers promote the sales of both instant ticket and online lottery tickets throughout the state. This order follows a previous contract from 2006 to supply up to $336,000 in signs, and an order from 2005 for 1,000 edge-lit signs.
As an alternative to traditional signage, Carmanah's edge-lit signs use bright, energy-efficient LEDs (light emitting diodes) for an eye-catching illuminated display that's durable, long lasting and cost effective. Carmanah's edge-lit signs feature a number of technical innovations and competitive advantages that distinguish them from other LED edge-lit products, including a slim versatile design, exceptionally bright illumination, crisp image detail, and durable shatterproof construction.
For nearly forty years, the New Jersey Lottery has helped raise revenue for education and institutions throughout the state. In 2007, the lottery provided $828.3 million in funding for community colleges, Department of Human Services, Department of Military and Veterans Affairs, Department of Agriculture School Nutrition Program, and the Marie Katzenbach School for the Deaf.
In addition to lottery signage, Carmanah provides edge-lit signs for a range of applications, including architectural, point of purchase, gaming, street name and traffic signs. For more information on Carmanah's edge-lit signs, visit www.edgelitsigns.com.
About Carmanah Technologies Corporation
Carmanah is one of the world's premier suppliers of renewable and energy-efficient technologies, including solar-powered LED lighting, solar power systems & equipment and LED illuminated signage. From its global headquarters in Victoria, British Columbia, Canada, Carmanah oversees a network of branch offices and sales representatives across Canada, the United States and the United Kingdom.
Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH" and on the Berlin and Frankfurt Stock Exchanges under the symbol "QCX". For more information, visit www.carmanah.com.
Carmanah Technologies Corporation
Chief Financial Officer
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Public Relations: David Davies
Forward Looking Statements
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in Carmanah's Annual Report for the fiscal year ended December 31, 2006, as filed on SEDAR at www.sedar.com. The risk factors identified in Carmanah's Annual Report are not intended to represent a complete list of factors that could affect Carmanah. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.