LOWE'S ENTERS SMART HOME MARKET WITH IRIS

Iris will allow customers to monitor and control their homes from anywhere


MOORESVILLE, N.C. - Lowe's, the world's second -largest home improvement retailer, announced it is entering the emerging smart home market, with an affordable, cloud -based home management system: Iris™. Iris gives customers the ability to control and interact with their home from anywhere using their smart phone or computer. Iris will be available in Lowe's stores and on Lowes.com in mid -2012.

"Because of Lowe's partnerships with manufacturers, utilities and service providers, Lowe's has the ability to offer a simple, intuitive home management solution at a great value," said Greg Bridgeford, Lowe's executive vice president of business development. "Lowe's, through Iris, is working to connect the broadest range of products in the industry and deliver the benefits of a smart home solution that were previously only available to the most affluent consumers."

Lowe's portfolio of connected products will enable customers to remotely monitor and control their homes from any mobile device. The new services will allow customers to control thermostats, locks, lighting, and appliances. Customers can also monitor and protect their homes with video cameras and door, motion, and fire sensors. Iris will be a system that will offer simple, scalable solutions at price points attractive to the mass market.

"This is an exciting development in the connected home space," said Stuart Sikes, president of Parks Associates, experts in emerging consumer technology products and services. "While there have been various simple applications such as remote management of HVAC systems that have delivered significant savings, until now, there have been few comprehensive offerings aimed at the mass market. Lowe's new Iris product and service platform has the attributes needed to break down these barriers and reach the consumer with a scalable solution at an affordable price, and it should position the company as a formidable leader in this space."

The launch of Iris affirms Lowe's commitment to constantly improve its customer experience and its business.

About Lowe's
With fiscal year 2010 sales of $48.8 billion, Lowe's Companies, Inc. is a FORTUNE® 50 company that serves approximately 15 million customers a week at more than 1,725 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second -largest home improvement retailer in the world. For more information, visit Lowes.com. To plan and manage all things home, visit Lowes.com/MyLowes.

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