Philips is a diversified Health and Well-being Company and a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products such as flat TV, male shaving and grooming, portable entertainment and oral healthcare.

Philips is committed to reducing its environmental footprint in all aspects of its business: in the products, manufacturing, and procurement, as well as in the communities where the company acts and in the working practices of its employees.

The Philips deal compliments the high caliber tenant roster that includes Knoll, Shell Oil, Glaxo Smith Kline, Baker Daniels, and The Shaw Group. They are expected to move-in early 2010.

Trip Howell and Amy Bowser of Jones Lang LaSalle represented Philips Electronics, while Randell C. Harrell, Executive Vice President, Brokerage Services; CB Richard Ellis represented the owners.

About 1050 K Street

1050 K Street, which is conveniently located near public transportation and the Walter E. Washington Convention Center, was previously a paved parking lot which was replaced with a building capable of retaining its own storm water and that of its site while using the storm water for irrigation of the street planters and the green roof. The collected storm water is distributed on the site by means of a bio-retention system. The building features the latest green technology, efficient water use, fresh indoor air, 100% wind power, and maximized use of daylight. The building reduces tenants' carbon footprint, is 26% more energy efficient than ASHRAE 90.1 standards, saves 2 million gallons of water yearly, removes 85% of airborne pollutants, and replaces 100% of the air every 51 minutes. The design incorporates a heat recovery wheel, which captures embodied energy in the exhaust air, which would normally be wasted, and allows it to be used to pre-treat the incoming supply air. The skin of the building contains a blue glass with high shading co-efficient that gives the building a unique character and differentiates itself from the other transparent glass buildings in the area. The glazed curtainwall and hi-tech glass system assures thermal comfort. Over 67% of the building's materials are sourced locally.

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people's lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs approximately 118,000 employees in more than 60 countries worldwide. With sales of $38 billion in 2008, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. Visit: philips.com/newscenter.

About The Tower Companies

The Tower Companies (towercompanies.com) is a three-generation, award winning, family-owned real estate development company founded in 1947 and headquartered in Rockville, MD. Ranked #16 on EPA's 100% Green Power Purchasers List, The Tower Companies is EPA-certified carbon-neutral and a member of EPA's Climate Leaders and Energy Star programs.

Tower has developed 4.5 million square feet of office buildings, office parks, 1,400 apartments, regional malls, residential communities, lifestyle centers, and hotels within the DC area. Of this total, one million square feet are Green or sustainable projects, and another 2.5 million square feet are in the planning stages. They are the area's leading regional builder of USGBC LEED projects including: 2000 Tower Oaks Boulevard (toweroaks.com), the first LEED Platinum-certified multi-tenant commercial building in the DC area, and the largest commercial application of Fortune-Creating(sm) architecture (fortunecreatingbuildings.com) design principals in the world. Other award-winning projects include: The Tower Building (towerbuilding.com), an ENERGY STAR and LEED Silver building, named 2003 Green Office Building of the Year by the Apartment and Office Building Association (AOBA); Millennium Building, (1909kstreet.com) the only and first commercial multi-tenant building in DC to get LEED EB-certified and the first green office building in Washington, DC; Blair Towns, (blairtowns.com), nationally recognized by the U.S. Green Building Council as America's first LEED-certified multi-family rental housing community in the United States. In 2009, Tower began one of the largest LEED renovations in the U.S., The Blairs, and 1,400 apartment units on a 27-acre live-work-play complex in Maryland.

About The Lenkin Company

Founded in the 1930's, The Lenkin Company (lenkin.com) is a full service management and construction firm that has developed and built over 4.5 million square feet of commercial properties and approximately 2,200 apartment units in the Greater Washington Metropolitan area. 1050 K Street is their first USGBC LEED(R) Gold certified construction.

    Contact:  Elizabeth Oliver-Farrow
              202.494.1977/Direct

SOURCE The Tower Companies

http://www.towercompanies.com

The Dilon 6800 Gamma Camera is a high-resolution, compact gamma camera, optimised to perform Breast-Specific Gamma Imaging (BSGI), a molecular breast imaging procedure that images the metabolic activity of breast lesions through radiotracer uptake.

Philips, a provider of comprehensive diagnostic tools for healthcare professionals in treating women, will display its women's imaging technology, including the Dilon 6800, at the Annual Congress of the European Association of Nuclear Medicine in Barcelona, Spain from 10 October 2009 to 14 October 2008.

Comments on this story may be sent to admin@m2.com

Under the terms of the MoU, Bruker BioSpin intends to develop and manufacture the preclinical MPI scanner at its facilities in Ettlingen, Germany. Both parties intend to co-market the resulting solution.

Deal Type    Partnership
Sub-Category Letter of Intent
Deal Status  Announced: 2009-09-23

Deal Participants

Partner 1 (Company) Bruker Corporation
Partner 2 (Company) Bruker BioSpin GmbH
Partner 3 (Company) Koninklijke Philips Electronics N.V.

The agreement provides that trade in LED lighting products between the companies will be intensified, that LSG takes out a royalty bearing license to the Philips LED based Luminaires and Retrofit Bulbs licensing program, and that Philips will make a limited equity investment in LSG.

According to Lighting Science, the commercial relationship involves mutual sourcing and supplying of LED components and products. The details concerning the commercial arrangement and the patent license agreement are confidential.

The company said that an investment by Phillips of $5 million in LSG will be made in the form of a convertible note that will convert to preferred shares upon a planned rights offering by LSG.

Lighting Science also said the agreement provides for mutual releases for all claims relative to the past, including all intellectual property and commercial claims and all the pending cases between the companies will be dismissed.

Netherlands-based Royal Philips Electronics is engaged in the healthcare, lifestyle and lighting markets and employs around 116,000 employees in more than 60 countries.

Rancho Cordova, California-based Lighting Science Group designs, develops, manufactures and markets LED lighting solutions. LSG offers retrofit LED lamps in form factors that match the form factor of traditional lamps or bulbs and LED luminaires for a range of applications including public and private infrastructure for both indoor and outdoor applications.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

http://www.financialwire.net