R.A.N.K.I.N. Technologies Inc. Breaks Car Theft Ring With Their Boomerang(R) Tracking System |
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| Press Release |
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| R.A.N.K.I.N. Technologies Inc. |
| 9/27/00 |
| MONTREAL, QUEBEC--R.A.N.K.I.N. Technologies Inc. breaks car theft ring using the Boomerang( Tracking System. Last night, the Boomerang(R) Hot Line received a call that a Boomerang(R)-equipped 1995 Porsche 911 Carrera, with an approximate original value of $110,000, had been stolen from the Montreal Dorval airport. The Boomerang(R) Tracking team was immediately dispatched and the vehicle was located in the Cote-des-Neiges neighborhood within forty-five minutes of the call. This recovery led police to a chop shop where six other luxury cars were found, including a BMW, Mercedes and a Jeep Grand Cherokee already partially dismantled in preparation for reselling. Montreal police are further investigating in order to determine the individuals associated with this crime. Organized crime pertaining to vehicle theft is a major problem in Canada, particularly in Montreal. This is why the insurance industry continues to expend a great deal of energy to combat this problem. "Boomerang(R) has led to the break up of numerous crime rings. With a success rate of 95%, insurance companies do not hesitate to recommend the Boomerang(R) and have, in many cases, modified their underwriting guidelines to mandate the device", explains Linda Farha, Director of Marketing, Communications and Investor Relations of R.A.N.K.I.N. Technologies Inc. Every day, approximately 400 vehicles are stolen in Canada. Although the national theft rate has gone down by 7% over the past year, the recovery rate has substantially decreased. In addition, the majority of these thefts are for the purpose of reselling the vehicles and/or parts and not simply for joy riding, making it much more difficult to recover the stolen vehicle. According to a 1998 report from Statistics Canada, 31,211 vehicles were stolen in Montreal in 1996, an alarming rate of 927 vehicles per 100,000. According to statistics available from the Canadian insurance industry, vehicle theft accounts for over $ 1 billion annually in paid claims. The Boomerang(R) Tracking System is playing a major role to help increase the recovery of stolen vehicles and deter theft as a result. This is primarily due to the Boomerang's(R) efficiency and speed in its method of recovery. To date, Boomerang(R) has recovered over 650 stolen vehicles and equipment since its inception, valued at approximately $33 million. About R.A.N.K.I.N. Technologies R.A.N.K.I.N. Technologies Inc. markets and distributes the Boomerang(R), a proprietary product using technology patented by the Company. The Boomerang(R) is the central device in a cellular-based asset tracking system, capable of locating stolen automobiles, heavy equipment and valuable objects utilizing the cellular systems of major regional telecommunications companies. The Company's proven recovery record has received endorsement by members of the Insurance Industry. Boomerang(R) is a registered trademark of R.A.N.K.I.N. Technologies Inc. R.A.N.K.I.N.'s headquarters and production facilities are in Montreal, and its products are sold and distributed in Quebec, Ontario, British Columbia, and most recently, in the Dominican Republic. The shares of R.A.N.K.I.N. Technologies are currently being traded on the Canadian Venture Exchange under the symbol BMG.A. -30- FOR FURTHER INFORMATION PLEASE CONTACT: R.A.N.K.I.N. Technologies Inc. Linda Farha (Source) Director of Marketing, Communications & Investor Relations (514) 234-8722 1-877-777-8722 extension 311 (toll free) [email protected] or BDDS Shandwick Anne-Marie Laurin / Jean-François Lebrun Information (514) 393-1180 The Canadian Venture Exchange (CDNX) neither approves nor disapproves of the information contained herein. |
| Boomerang® is a registered trademark of Boomerang Tracking Inc. It's headquarters are located in Montreal, Quebec. Boomerang products are sold and distributed in the provinces of Quebec, Ontario, British Columbia and in the Dominican Republic. Boomerang Tracking Inc. shares are traded on the Toronto Stock Exchange (TSE) under the trading symbol "BMG". |