News Release

FOR IMMEDIATE RELEASE 

Waterbury, CT, November 8, 2001 - Innovative Technologies Group, USA the parent company of Masonlite   Ltd., Chatham UK and Aristo Grid Lamp Products today announced it has successfully completed the acquisition of the Voltarc Technologies business of PerkinElmer, Inc.  Voltarc provides lighting solutions to the sign, specialty lighting, medium pressure UV and tanning markets.

This acquisition further enhances the company's strategy of broadening its offerings in the niche light sources industry and extends its technology base and served markets on a global scale.  The distinctive competence of the three businesses presents an excellent opportunity to offer customers a more complete range of lighting solutions and services.

Commenting on the acquisition, Vinnie Mehta, Chairman and CEO of Innovative, said: "Bringing together these companies dramatically improves market opportunities in the North American and International markets."

Joseph Laudano, the newly appointed Voltarc President, commented: "the merger of Masonlite, Voltarc and Aristo gives us the strongest engineering, manufacturing, and sales and marketing force in the industry.   We are excited at the opportunities this will bring to our customers."  Ken Horton, Managing Director of Masonlite added "both the product and geographical fit of the companies are ideal, and the combined organization  now has tremendous opportunity for International development."

Transco, Inc. and Voltarc Technologies have integrated their respective sales forces into a unified team.  This sales force will have a combined product package that allows them an opportunity to serve customers with an efficient and value added 'electrical system'.  "Our customers" said Henry Brown, President of Transco," will see a positive effect with this highly focused sales force."