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LOJACK'S CARSEARCH SYSTEM TO BE IMPLEMENTED IN CZECHOSLOVAKIA; THE NATIONAL POLICE WILL OPERATE THE STOLEN VEHICLE RECOVERY SYSTEM

 LOJACK'S CARSEARCH SYSTEM TO BE IMPLEMENTED IN CZECHOSLOVAKIA;
 THE NATIONAL POLICE WILL OPERATE THE STOLEN VEHICLE RECOVERY SYSTEM
 BOSTON, Oct. 27 /PRNewswire -- Massachusetts-based LoJack Corp.'s (NASDAQ: LOJN, BSE: LOJ.B) CarSearch System for stolen vehicle recovery would be implemented by law enforcement in Czechoslovakia. Under terms of an agreement between LoJack Corp. and a privately held company in Czechoslovakia, the licensee will purchase CarSearch products and components, all manufactured in the United States, from LoJack over the life of the agreement. LoJack has received an undisclosed initial payment towards the license fee and the company expects to realize minimum initial revenues of approximately $1.5 million during the next six to nine months. The company will also derive ongoing revenues from the sale of CarSearch units in Czechoslovakia.
 The CarSearch System in Czechoslovakia will be operated by the National Police. It is expected to be operational in early 1993.
 The announcement was made at a press conference held today at 1 p.m. by Governor William F. Weld at the State House. C. Michael Daley, president of LoJack Corp., also attended the governor's press conference.
 "LoJack has already shown itself to be a technology leader. With this agreement, LoJack has also shown itself to be an export leader," said Governor Weld, who led a trade mission to Czechoslovakia in September. "All of this is good news for Massachusetts, the state's economy and our ongoing efforts to create jobs."
 Mr. Daley said, "This agreement represents our completion of another CarSearch license agreement, the first being Greece. We view CarSearch as an opportunity to increase revenues and the return on the significant investment in the LoJack technology and know-how developed and produced by our Massachusetts based employees and subcontractors, as well as to expand the use of our stolen vehicle recovery technology in addressing the serious problem of motor vehicle theft in as many other parts of the world as possible. LoJack will incur no investment costs with respect to the implementation and operation of the CarSearch System in Czechoslovakia.
 "Substantially all of the CarSearch components initially being exported to Czechoslovakia will be manufactured in Massachusetts where LoJack's stolen vehicle recovery technology was developed. The sale of LoJack products helps provide jobs in Massachusetts. We are therefore pleased that increased sales abroad as well as continued expansion and growth in our U.S. markets means increased U.S. revenues for LoJack and increased employment opportunities.
 "Since 1989, LoJack's revenues have grown from $3.9 million to an estimated $22 million to $24 million for our fiscal year ending Feb. 28, 1993, and over the same period of time, we have increased our number of employees from 34 to a present level of 165."
 Mr. Daley said that the company is also in negotiations to license the LoJack technology in several other countries during the next year.
 -0- 10/27/92
 /CONTACT: Joseph F. Abely, senior vice president of LoJack, 617-326-4700; or John Swanson of Swanson Communications, 212-683-4890, for LoJack/
 (LOJIN) CO: LoJack Corp. ST: Massachusetts IN: AUT SU: LIC


GK-EE -- NY064 -- 5459 10/27/92 13:30 EST
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Publication:PR Newswire
Date:Oct 27, 1992
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