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Boomerang recovers a record $700,000 in one day
Boomernag Tracking Inc.
Press Release
Serge Laporte
7/24/2001
Boomerang Tracking Inc. (TSE:BMG) recovers over $700,000 in stolen assets in one day with the use of its cellular-based Boomerang Tracking System. These recoveries include three separate thefts, one of a Dodge Dakota 2000 found in Granby, Quebec in a chop shop along with several other vehicles, a trailer with 68 high-end color televisions in Napierville, Quebec and a Land Rover Discovery 1998 in Mascouche, Quebec. All of these tracks resulted in arrests.

“The three calls came in during the course of the day and our tracking teams were immediately dispatched to the nearest cell sites,” commented Peter Lashchuk, president of Boomerang Tracking. “In less than 1 hour, all stolen vehicles were located and local authorities were notified. Upon obtaining a search warrant, the police uncovered both the cargo of stolen 60-inch televisions and the stolen vehicles” he continued.

“Boomerang’s successful recoveries are due primarily to several key factors: the device is hidden in a different location in each vehicle, Boomerang utilizes its own tracking personnel, and installations are made only by certified installers. We are pleased that our organization has provided a solution to the growing problem of vehicle theft. Our intention is to continue to develop value-added services to meet consumer needs”, said Lashchuk.

The Boomerang Tracking System has led to the recovery of over 1,000 vehicles and other valuable assets, valued at approximately $52 million. The system is distributed in Quebec, Ontario and British Columbia and is capable of tracking stolen assets throughout North America.

For further information regarding the Boomerang® Tracking System, contact the Company’s customer service department at 1.877.777.8722 or visit its website at www.boomerangtracking.com.

About Boomerang Tracking Inc.

Boomerang Tracking Inc. assembles, markets and distributes the Boomerang®, a proprietary product using technology patented by the Company. Its head office, research and development, production and corporate installation facilities are located in Montreal, Quebec. The Boomerang is also installed through a network of authorized dealers located throughout the provinces of Quebec, Ontario and British Columbia. 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. The shares of Boomerang Tracking Inc. are currently being traded on the Toronto Stock Exchange under the symbol BMG.

This press release may contain forward-looking statements, which reflect the Company''s current expectations 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 the 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.

No regulatory authority has approved or disapproved of the information contained herein.

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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.