LoJack Corporation Concludes Discussions With SEC

    DEDHAM, Mass., May 30 LoJack Corporation
reported today that on May 24, 2001, the Securities and Exchange Commission
("SEC") completed its review of the company's revenue recognition for domestic
product sales.  The SEC did not object to the company's current accounting
policy for revenue recognition of domestic LoJack unit sales upon installation
of the unit in customers' vehicles.  These discussions with the SEC had caused
the company to delay reporting its results for fiscal 2001 ended February 28,
2001.  As previously announced, the company is changing its accounting policy
relating to upfront license fees paid by international licensees in accordance
with the guidance provided in SAB 101, "Revenue Recognition in Financial
Statements."

    Revenues for the year were $95,856,000 and net income was $4,528,000 or
$0.27 per share compared to revenues of $90,159,000 and net income of
$9,081,000 or $.52 per share a year earlier.  Net income for fiscal 2001 also
included a one-time charge to defer and amortize revenue previously recognized
on international license fees.  This revenue adjustment, amounting to
$4,883,000 before tax, will be recovered in license fee revenue in future
periods and has no effect on the company's cash flow.  The charge arising from
this change in accounting was effective as of March 1, 2000 and the company's
prior fiscal 2001 quarters will be restated, as required, to reflect the
adoption of SAB 101.

    Revenues for the fourth quarter of fiscal 2001 were $21,251,000 and the
net income was $488,000 or $.03 per share compared to revenues of $21,405,000
and net income of $1,810,000 or $.11 per share for the fourth quarter of
fiscal 2000.  The fourth quarter net income in fiscal 2001 was adversely
impacted by a nonrecurring pre-tax charge of $1,512,000 relating to a
management reorganization.