Boomerang Tracking Inc.

Boomerang Tracking Inc.

December 17, 2008 11:28 ET

Boomerang Tracking Advocates 'Layered Approach' to Auto Theft Protection

Boomerang Tracking wishes to increase awareness of vehicle recovery solutions as viable, effective solution in reducing auto insurance costs

MONTREAL, QUEBEC--(Marketwire - Dec. 17, 2008) - Boomerang Tracking Inc., Canada's leader in stolen vehicle recovery, wishes to increase awareness of vehicle recovery solutions as an effective means in reducing vehicle theft cost to Canada's insurance industry, and in turn, consumers.

As IBC's recent report on the Top Ten Stolen Vehicles outlines, auto theft remains big business for professional thieves in Canada. Vehicles are being stolen to supply parts to the market, to re-VIN stolen vehicles for resale in the local market and for export to other markets in North America or offshore, as well as to commit other crimes thus putting in danger the life of ordinary citizens. Carjackings and home break-ins are on the rise. The sanctions awarded to car thieves are relatively limited considering the potential payoff.

Installing a vehicle recovery system enables the vehicle to be safely and rapidly recovered, preventing the vehicle from being exported overseas, possible cases of fraud and dangerous car chases. In addition, recovery systems regularly lead law enforcement teams to chop shops, dismantling entire professional theft rings.

Boomerang Tracking advocates a 'layered approach' to protecting vehicles from theft, which includes steps from common sense to installing a vehicle recovery system. Boomerang Tracking recently released "Keeping Track" a consumer booklet outlining the facts, figures and best strategies for consumers to prevent their own car from becoming a statistic. The booklet is available for free download on Boomerang Tracking's website at www.boomerangtracking.com.

The need for an effective, affordable and effective after-theft solution is clear. "As professional theft rings continue to operate across Canada, auto theft - and the associated $600 million in cost to the insurance industry - will continue to be an important problem. The pro-active recognition of recovery devices such as Boomerang can benefit the whole community. Consumers can play a pro-active role in better managing risk and reduce car theft. Insurers can effectively reduce their costs of claims and re-insurance. The insured can have better access to insurance for his participation in vehicle risk management and obtain an economical benefit for doing so", commented Scott Nilson, Boomerang Tracking's General Manager.

To date, the Boomerang Tracking devices have aided in the recovery of over 6,600 vehicles and other assets with an approximate value of over $320 million, including incidentals. In addition, approximately 36% of vehicles recovered by Boomerang Tracking were equipped with an IBC-approved immobilizer device, and were still stolen.

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 stolen vehicle recovery systems in Canada. LoJack is a registered trademark of LoJack Corporation and is used by Boomerang Tracking under license.

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