Boomerang Tracking Inc. ranks number one in Canadian Technology Fast 50

Boomerang Tracking Inc. (TSX: BMG) is extremely proud to announce that it has ranked number one in the Deloitte & Touche 2002 Canadian Technology Fast 50 Awards Program. This annual program ranks the 50 fastest growing high technology companies in Canada, based on the highest rates of revenue growth over the last five years (1997-2001). With an impressive growth of 9,064% over this period, Boomerang Tracking became the first Quebec-based company to achieve this prestigious ranking.

�We are honored by this recognition. We believe this represents one of the most significant designations for Boomerang Tracking to date and are truly proud of this accomplishment�, commented Peter Lashchuk, the Company�s President and CEO. �Boomerang Tracking has been on a fast path since day one and has hit many major milestones along the way. The Company now has over 120,000 active Boomerang� subscribers, has recovered almost $100 million in stolen vehicles and is in the final stages of developing its new GSM-Boomerang device for deployment into the United States. These are only some of the Company�s recent notable achievements.�

Continued Mr. Lashchuk: �Over the course of the past year, we maintained a clear focus on our mission: building the foundation for future growth and we did so while maintaining our profitability. While growth and profitability have become a challenge in today�s economy, Boomerang Tracking has not only met this challenge but has done so while maintaining its leadership position in the asset recovery market. By setting new industry standards in vehicle recovery, the Company�s core business, Boomerang Tracking has become a company driven to succeed.�

Boomerang Tracking Inc. assembles, markets and distributes the Boomerang Tracking System, a proprietary product using technology patented by the Company. The Boomerang Tracking System is the central device in a cellular-based asset tracking system utilizing the wireless systems of major regional telecommunications companies. The Boomerang Tracking System is capable of locating stolen automobiles, heavy equipment and valuable objects. The Company’s proven recovery record has received endorsement by members of the insurance industry. The Boomerang Tracking System is installed through a network of authorized dealers located throughout the provinces of Quebec, Ontario and British Columbia. The Company’s head office, research and development, production and corporate installation facilities are located in Montreal, Quebec. Boomerang is a registered trademark of Boomerang Tracking Inc. The shares of Boomerang Tracking Inc. trade on The Toronto Stock Exchange under the symbol BMG.