LoJack Exchangeco Canada Inc.

August 27, 2007 16:06 ET

LoJack Exchangeco Canada Inc.: Announcement

MONTREAL, QUEBEC--(Marketwire - Aug. 27, 2007) - LoJack Exchangeco Canada Inc. ("LoJack Exchangeco"), a subsidiary of LoJack Corporation ("LoJack") (NASDAQ:LOJN), announced today that the board of directors of LoJack Exchangeco has resolved to establish October 30, 2007 as the redemption date of LoJack Exchangeco's outstanding exchangeable non-voting shares. The exchangeable non-voting shares of LoJack Exchangeco were issued in conjunction with LoJack's acquisition of Boomerang Tracking Inc. in October 2004 on terms which permitted their redemption upon there remaining less than 100,000 outstanding exchangeable non-voting shares. It was also announced that 6292887 Canada Inc. ("LoJack Callco"), another subsidiary of LoJack, has exercised its overriding right to purchase all of the outstanding exchangeable non-voting shares (other than exchangeable non-voting shares which are held by LoJack and its affiliates) on October 30, 2007, in accordance with the terms of the exchangeable non-voting shares, for purchase consideration of one share of LoJack common stock for each exchangeable non-voting share of LoJack Exchangeco, plus accrued and unpaid dividends, if any. Notice of the redemption date and the exercise by LoJack Callco of its right to purchase the outstanding exchangeable shares on October 30, 2007 will be mailed to registered shareholders on August 27, 2007.

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