Boomerang Tracking Inc.

Boomerang Tracking Inc.

October 23, 2007 11:41 ET

Boomerang Tracking Recovers its 6,000th Stolen Vehicle

Milestone Recovery Brings Total Value of Recovered Assets to $300 Million

MONTREAL, QUEBEC--(Marketwire - Oct. 23, 2007) - Boomerang Tracking Inc., Canada's leader in stolen vehicle recovery, is proud to announce the recovery of its 6,000th stolen vehicle equipped with a Boomerang tracking device. This milestone recovery brings the total value of assets recovered by Boomerang to approximately $300 million, highlighting the company's impact on helping to reduce the vehicle theft epidemic in Canada.

The recovery of the 6,000th vehicle, a 2005 Toyota RAV4, is a powerful example that it is more often popular vehicle models that are targeted by car thieves for the local black-market resale of parts and not necessarily just luxury models, which are usually exported abroad by thieves.

How the 6,000th recovery unfolded:

As the owner of the 2005 Toyota RAV4, Monique Philie, awoke at 5:30 a.m. on August 29th, she quickly realized that her vehicle was no longer parked in front of her Montreal residence as she had left it. She immediately contacted the Boomerang Security Central and in less than one hour, the Boomerang tracking team had recovered the vehicle and advised local law enforcement.

This was Ms. Philie's first experience with vehicle theft. "I was encouraged by my insurance company to have a Boomerang tracking device installed on my Toyota RAV4 since my insurance premium would be significantly reduced", Ms. Philie said. She also shared her thoughts when she had realized her car had been stolen: "If I don't find my vehicle, will I have to buy another one? How will I get to work - I commute more than 100km a day! How much time will I have to spend cataloguing all the valuables that were in my vehicle for my insurance claim?" The Boomerang Security representative on the phone helped allay her concerns. "The agent on the phone reassured me and guided me through all the next steps, which helped me to calm down. And Boomerang Tracking allowed me to get my vehicle back quickly with everything that was inside", said Ms. Philie.

A multi-layered approach is most effective

In the United States, the National Insurance Crime Bureau (NICB) recommends a four layered approach to vehicle theft prevention and recovery, including using common sense, an alarm system, an immobilizer and a vehicle recovery system - an approach that Boomerang Tracking agrees is the best way to keep vehicles in their owners' possession. "It is important that consumers understand the need to not only prevent theft from occurring in the first place, but make sure that their vehicle is able to be recovered quickly if it is stolen. As thieves become increasingly sophisticated, consumers should keep a step ahead", affirmed Craig Armstrong, Boomerang Tracking's General Manager. This multi-layered approach is reinforced by a recent study conducted by Boomerang Tracking, highlighting that 36% of stolen vehicles recovered by Boomerang Tracking have an IBC-approved immobilizer installed. In fact, the 6,000th recovered vehicle was equipped with an IBC-approved immobilizer device, and recovered by Boomerang Tracking.

About Boomerang Tracking Inc.

Founded in 1995, Boomerang Tracking Inc. has quickly become a technological leader in tracking stolen property and offers a seamless solution to the ever-growing concern for the protection and recovery of stolen vehicles and other valuable assets in Canada. As a result of its success, the Company has received the endorsement of members of the insurance industry. The devices are available and installed through a network of authorized dealers in Quebec, Ontario and British Columbia. The Company's head office, research and development center and manufacturing facilities are located in Montreal, Quebec, with regional facilities located in Mississauga, Ontario. In 2004, Boomerang became a wholly-owned subsidiary of LoJack Corporation (NASDAQ:LOJN), the company that invented the stolen vehicle recovery market two decades ago and who remains the undisputed global leader in tracking and recovering valuable mobile assets. Today, Boomerang Tracking markets both the LoJack and Boomerang brand tracking devices in Canada. LoJack is a registered trademark of LoJack Corporation and is used by Boomerang Tracking under license.

Editors Note: A photo for this release will be available on the CP picture wire via Marketwire.

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