The Opalec newbeam module is one of a couple modifications available for the 2AA Mini M*g. This one has got three regulated white LED's and a red low battery indicator LED. Its runtime is about 10hours full brightness and a lot of more hours with a usefull amount of light.
I use the Opalec Mod a lot for reading at night with a yellow filter in front of it. It eats up my old batteries and with lithium batteries it is a good light for travelling/skiing/hiking etc. in cold enviroments.