Cell-Loc Location Technologies Inc.
TSX VENTURE : LTI

Cell-Loc Location Technologies Inc.

July 10, 2007 16:33 ET

Cell-Loc Location Technologies Inc. Provides Update of Its Activity in Sao Paulo

CALGARY, ALBERTA--(Marketwire - July 10, 2007) - Cell-Loc Location Technologies Inc. (TSX VENTURE:LTI), is pleased to report another positive month for installation of its Beacons. During the month of June, LTI's Brazilian subsidiary, X3 Telecomunicacoes e Equipamentos ("X3"), installed 3,773 Beacons in vehicles that are insured by its customer, Itau Seguros. This number exceeds the prior year's July total of 102 and the guidance of 3,700 per month that was provided at the recent annual general meeting. For the quarter ended June 30, X3 has installed 11,074 beacons and billed Itau Seguros for 9,930 (net of churned beacons). Active beacons totaled 23,882 as of June 30.

June also marked an important month in the execution of the Company's business model, as it was the first month for billing of renewal for prior year installations. Under the terms of the customer agreement, X3 automatically bills Itau Seguros for the following year service on the anniversary of the installation. This provides X3 with a revenue annuity with no incremental cost associated with the renewal. There are 5,131 renewals scheduled for the upcoming quarter. In addition, the billing rate per beacon increased by 3.7% in June to reflect the annual inflation rate as provided in the contract.

X3 has also been active in assisting in the recovery of stolen vehicles by Itau Seguros. To date, X3 has assisted in the recovery of 241 customer vehicles. Assuming an average value of $12,000 per vehicle, this represents a savings of $2.9 million for Itau Seguros.

About Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc. (www.cell-loc.com) is the developer of a family of network-based wireless location products that enable location-based services. Located in Calgary, Alberta, Cell-Loc currently develops, markets and supports its patented wireless location technology in North and South America and Asia, with a view to expanding globally. Cell-Loc is listed on the TSX Venture Exchange under the trading symbol: "LTI."

Forward Looking Statements: This news release contains certain information that may constitute forward-looking statements under applicable securities laws. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Actual results achieved may vary from the results anticipated or implied herein and variations may be material. There is no representation by the Company that actual results achieved will be the same in whole or in part as those implied in any forward looking statements.

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The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Cell-Loc Location Technologies Inc.
    Sheldon Reid
    President & CEO
    (403) 569-5700
    or
    Cell-Loc Location Technologies Inc.
    Dave Guebert
    Vice President Finance & CFO
    (403) 569-5700
    Website: www.cell-loc.com