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Updated: July 8th, 2008 05:26 PM CDT

Color Kinetics Announces Acquisition by Philips

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Forward-looking statements

This release contains certain forward-looking statements with respect toColor Kinetics and the proposed transaction, the expected timetable forcompleting the transaction, Color Kinetics' financial and operating results,benefits and synergies of the transaction, future opportunities for thecombined company and other statements about Color Kinetics management's futureexpectations, beliefs, goals, plans or prospects. Any statements that are notstatements of historical fact (including statements containing the words"believes," "plans", anticipates," "expects," estimates" and similarexpressions) should also be considered to be forward-looking statements. Thereare a number of important factors that could cause actual results or events todiffer materially from those indicated by such forward-looking statements,including: the Color Kinetics shareholders could fail to approve thetransaction; regulatory approvals might not be obtained; and the other factorsdescribed in Color Kinetics' Annual Report on Form 10-K for the year ended December 31, 2006 and its most recent quarterly report filed with the SEC.Color Kinetics disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date ofthis press release.

IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC

Color Kinetics intends to mail to its stockholders and file with theSecurities and Exchange Commission (the "SEC") a Proxy Statement in connectionwith the proposed transaction, and to file other relevant materials with theSEC. The Proxy Statement and other materials filed with the SEC will containimportant information about Color Kinetics, Philips, the Merger and relatedmatters. Investors and security holders are urged to read the Proxy Statementcarefully when it is available. Investors and security holders will be able toobtain free copies of the Proxy Statement and other documents filed with theSEC by Color Kinetics and Philips through the web site maintained by the SECat www.sec.gov. In addition, investors and security holders will be able toobtain free copies of the Proxy Statement from Color Kinetics by contacting Justine Alonzo , Investor Relations Manager, Color Kinetics Incorporated at617-701-2272 or on Color Kinetics' web site at www.colorkinetics.com.

Color Kinetics is a registered trademark and the Color Kinetics logo is atrademark of Color Kinetics Incorporated. All other trademarks mentioned arethe property of their respective owners.

SOURCE Color Kinetics Incorporated


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