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Boomerang Tracking System Uncovers Over $450,000 in Stolen Vehicles

21 November 2000

R.A.N.K.I.N. Technologies: The Boomerang Tracking System Uncovers Over $450,000 in Stolen Vehicles

    MONTREAL--Nov. 20, 2000--R.A.N.K.I.N. Technologies Inc. (CDNX:BMG.A) uncovered nine stolen luxury vehicles last night with the use of their cellular-based Boomerang(R) Tracking System, two of which were equipped with the Boomerang(R) device.
    Insurance companies continue to reap the benefits of their relationship with Boomerang(R), having saved more than $450,000 thanks to this track alone. Three 4-Runners, a Dodge Durango, a BMW 740i, a Mercedes E430, a Corvette Convertible and a 4x4 Infinity were amongst the vehicles found on Choisy Rd. in St-Leonard, Quebec.
    "Last night's track confirms once again the crucial role that the Boomerang(R) device plays in auto theft prevention. With its success rate of 95%, the Boomerang(R) device has not only led to the recovery of more than 700 vehicles since its launch in the marketplace but has provided savings of over $36.5 million. With its primary goal of countering automobile theft, the Boomerang(R) Tracking System assists law enforcement authorities in the break up of organized crime" explains Linda Farha, Director of Marketing, Communications and Investor Relations at R.A.N.K.I.N.
    Four hundred and forty-two vehicles are stolen every day in Canada, representing 18 thefts per hour. Quebec is ranked as having the highest rate of auto theft among all Canadian provinces. According to the Groupement des assureures automobiles, the cost of automobile theft has increased by 40% or $78 million over the past six years. Needless to say, automobile theft is significant when considering the cost of insurance. For example, in 1999, 34,446 vehicles were stolen in Quebec alone, representing a loss of $271 million to the insurance industry.
    Not only does the Boomerang(R) provide its customers with 24-hour protection, it also provides peace of mind and considerably less inconvenience for the owner in the event of theft. As opposed to Boomerang(R)'s sixty minute average recovery time, a stolen vehicle not protected by a Boomerang(R) can mean a wait of 30 days before insurance companies settle the claim.