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Boomerang launches second-generation device providing automatic theft notification services
An agreement with wireless service provider Bell Mobility provides the platform for deployment
Boomerang Tracking Inc.
Press Release
Serge Laporte
10/18/2001
Many zealous reporters and members of the insurance industry today experienced the live tracking of a stolen car. This adrenaline- boosting chase was plotted by Boomerang Tracking Inc. (TSE:BMG), Canada’s leading provider of asset protection and recovery technology, who was introducing a second-generation Boomerang – the Boomerang2. This latest development is possible through Boomerang’s service agreement with Bell Mobility, Canada''s leading wireless provider.

“Boomerang2 has been developed to offer automatic response to a theft”, says André Boulay, Vice-President, Technology and co-founder of Boomerang Tracking Inc. “This second generation Boomerang will send a signal to our trackers upon any unauthorized movement of a vehicle and will consequently reduce dramatically the response time of our in-house tracking teams. In fact, Boomerang will now know that a vehicle is stolen before the owner is actually made aware. This is why we have coined this new Boomerang the intelligent vehicle recovery system. As we roll out Boomerang2, we will offer additional telematic services to our customers beyond vehicle tracking.

Boomerang2 is a proprietary device that will only be installed in passenger vehicles and trucks in the first phase of its launch. The owners will be given two Key Fobs for each of their vehicle’s keys. If the vehicle is moved without the a Key Fob on board, Boomerang2 will send a theft signal identifying itself to the Boomerang Tracking team. Immediate steps will then be taken to recover the stolen vehicle. Boomerang2 can locate assets wherever they may be, including those underground or inside a shipping container, within one foot of their location using Boomerang’s own in-house tracking team.

“The original Boomerang Tracking System already boasts an impressive recovery rate and we have been able to maintain this high level of success as the Company continues to grow exponentially. The small percentage of unrecovered vehicles is primarily due to the fact that owners of Boomerang devices must notify our Central should their vehicle be stolen, therefore providing thieves with a head start. It is also the consequence of customer fraud, a problem that insurers are continuously contending with,” says Peter Lashchuk, President and CEO of the Company. “We expect that Boomerang2 will provide a solution to increase our rate of success as we will be able to respond immediately to theft. Business travelers and individuals who leave their vehicles parked in public areas for extended periods of time can now rest assured as they know their property is well protected even when they are away.”

The Boomerang Tracking System is supported in Canada by police and law enforcement representatives and by over 30 insurance companies which, in most cases, either mandate or recommend the installation of the Boomerang tracking device in high-end and high-risk vehicles and equipment, and provide discounts for its installation. To date, the Company has enabled the recovery of over 1,250 vehicles and units of heavy equipment, estimated at a total value of more than CDN $62 million.

Boomerang2 will be sold though authorized and certified dealers in Ontario and Quebec. All activations will be done through the Company’s new e-commerce activation platform which allow authorized retailers to process new orders at the point of sale.
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.