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Boomerang Tracking Inc. appoints new vice-president and chief financial officer
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Boomerang Tracking Inc.
Press Release
Serge Laporte
1/18/2001
MONTREAL, Quebec, January 18, 2001 – Boomerang Tracking Inc. is pleased to announce the appointment of Mr. Jacques Deforges to Vice President, CFO and Corporate Secretary. With over 15 years of financial and operational experience in telecommunications-related sectors,
Mr. Deforges brings strong credentials and management skills to the Company’s operations.

Mr. Deforges’ mandate is to direct all financial activities of Boomerang Tracking Inc. including investor relations, financial planning and the treasury as well as the Company’s operations, human resources and legal activities.

Mr. Deforges has a solid background in finance and has enjoyed considerable success at senior management levels during his career. Prior to joining Boomerang Tracking Inc., he served as Vice President and Corporate Treasurer for Teleglobe Inc., a major international telecommunications carrier recently acquired by BCE Inc. During his tenure, he directed the activities of the treasury department, was in charge of corporate finance activities and investor relations. Prior to joining Teleglobe in 1996, he directed the telecommunications sector at one of Canada’s major chartered banks.

A native of France, Mr. Deforges graduated from the École des Hautes Études Commerciales in Paris, France and later obtained an MBA from Concordia University in Montreal.

Mr. Deforges is currently member of the Board of Directors of Le Musée Pointe-à-Callière in Montreal and is President of the 2000-2001 fund raising committee of Le Refuge des Jeunes de Montréal.

“We welcome Mr. Deforges to the Boomerang Tracking management team” said Peter Lashchuk, President of the Company. “His extensive experience in high-level corporate finance and operations makes him a perfect addition to meet the Company’s needs as it continues to expand geographically. I am confident that with his experience in global markets, he will be a great asset to the Company’s leadership requirements as it forges forward to meet its goals.”

About Boomerang Tracking Inc.

Boomerang Tracking Inc. markets and distributes the Boomerang®, a proprietary product using technology patented by the Company. The Boomerang® 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® is a registered trademark of Boomerang Tracking Inc. Boomerang Tracking Inc.’s headquarters and production facilities are in Montreal. The shares of Boomerang Tracking Inc. are currently being traded on the Canadian Venture Exchange under the symbol BMG.A.

This press release contains forward-looking statements, which reflect the Company''s current expectation regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors. Investors should consult the Company''s ongoing quarterly filings, annual reports and proxy solicitation filings for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements and the Company disclaims any obligation to update them.

The Canadian Venture Exchange (CDNX) neither approves nor disapproves of the information contained herein.
Boomerang Tracking Inc. markets and distributes the Boomerang® tracking devices, proprietary products using technology patented by the Company. The Boomerang, Boomerang2™ and GSM-based units are the central devices in a system that uses the wireless networks of major regional telecommunications companies for tracking stolen assets. The Boomerang Tracking System is capable of locating stolen automobiles, heavy equipment and valuable assets. As a result of its success, the Company has received the endorsement of members of the insurance industry. The Boomerang devices are available and installed through a network of authorized dealers in Quebec and Ontario. The Company's head office, research and development centre and manufacturing facilities are located in Montreal, Quebec, with regional facilities located in Mississauga, Ontario and Orange County, California. Boomerang is a registered trademark and Boomerang2 is a trademark of Boomerang Tracking Inc. The shares of Boomerang Tracking Inc. trade on The Toronto Stock Exchange under the symbol BMG.