6/23/2003
Boomerang Tracking Inc. is pleased to announce that Boomerang Tracking Corporation, its wholly-owned subsidiary, has chosen the state of California to launch its new GSM-based Boomerang tracking device.
Boomerang Tracking Corporation will enter the U.S. with the advanced proprietary GSM-based Boomerang device, which recently received FCC (Federal Communications Commission) certification. This will mark the first time the Boomerang� Tracking System will be available over this type of infrastructure, the most widely deployed wireless communications platform in the world.
�With over 210 million registered vehicles and more than 8.7 million new vehicles sold each year in the United States, the U.S. represents an important business opportunity for Boomerang Tracking Corporation,� stated Peter Lashchuk, President and CEO of Boomerang Tracking Inc. �California, in particular, represents the perfect starting point. According to the National Insurance Crime Bureau, three of the top ten U.S. cities with the highest rates of vehicle theft in the United States are in California, representing almost 200,000 vehicles stolen in 2001 alone.�
With the extensive GSM network coverage offered by the second-largest wireless carrier in the U.S., Boomerang Tracking Corporation will be able to market and distribute the tracking device with nominal infrastructure investment. The wireless-based technology employed by this new platform provides significant advantages over other tracking devices employing radio-based technology and satellite global positioning (GPS). These advantages include tracking capabilities even when the vehicle is located underground, precision of up to three feet, automatic theft notification and competitive pricing. In addition, with its in-house tracking team dedicated to tracking stolen vehicles 24/7, Boomerang Tracking Corporation can provide a rapid response to vehicle theft resulting in less chance of damage to the vehicle and the likely return of personal belongings.
Boomerang Tracking Corporation recently opened its head office in Orange County, in Southern California, to support its customers in the region and further expansion throughout California. Boomerang Tracking Corporation is also in the process of developing its distribution network.
�With theft continuing to rise in the United States, this market understands the need for tracking devices. Consumers, corporations, fleets and vehicle insurers are looking for a proven solution. Our GSM-based Boomerang tracking device will clearly be able to address these needs,� concluded Mr. Lashchuk.
Boomerang Tracking Inc. markets and distributes the Boomerang Tracking System, a proprietary product using technology patented by the Company. The Boomerang, Boomerang2 and GSM-based Boomerang devices are the central devices 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 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. More information is available at our website http://www.boomerangtracking.com
