Tiger Telematics, Inc. Announces Development Plans for a Child Tracker Device
JACKSONVILLE, Fla.--Sept. 6, 2002--Tiger Telematics, Inc. (OTCBB:TIGR) today announced that it is developing a tracking device to help parents locate their children.The device is being created by the company's London based telematics subsidiary for release in Europe. It is a smaller derivative version of one of the company's commercial fleet tracking products.
The child tracker device is in the concept stage of development. The company is working with its technology partners to adapt existing technologies to this new application. Tiger Telematics executives are currently in discussions with a leading consumer brand to take the product to market.
The device will enable parents to locate their children using mobile phones.
The technology will also enable children to be tracked via an Internet portal, which can pinpoint a child's location down to street level.
"The technology can enable parents to view the exact position of their children via a mobile telephone with a positional accuracy of 10-15 metres," said Tiger Telematics Managing Director, Geoff Mitchell.
"Using mobile telephone technology, the child's location can be displayed by street name and postcode. Using a Tiger system telephone, a street level map can be displayed and the child's location can be determined graphically.
"The technology is compatible with existing GSM and GPRS technologies which we use in our products and imminently future (3G) technologies.
"Our fleet products specialize in the provision of pinpointing technology which enables assets to be tracked down to street level.
"Our predominant market interest centres on advanced tracking devices for the commercial fleet industry," he added.
Mr. Mitchell said that Tiger Telematics wanted to accelerate the design, development and manufacture of the child tracker because of intense public interest.
"We had begun the concept of this product earlier this year. We expect to be able to reduce the timescales and we will propose a cooperative development with interested parties," he added.
Tiger Telematics is developing several different versions for differing age groups.
| -- | A passive tracker for children under six |
| -- | An active tracker for five to ten year olds |
| -- | An active teenage tracker for ten to seventeen year olds. |
The product portfolio will range from a low-cost, pager type, passive tracker through to a highly featured active teenage tracker with gaming features, multimedia cards and a panic button.
About Tiger
Tiger Telematics, Inc., provides telematics products and services in Europe and other areas. Tiger's mission is to bridge the gap that exists between the telecommunications, computing and automotive industries by delivering a comprehensive telematics solution and services to the consumer, business and fleet markets.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics, Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms; and those risks discussed in the Company's filings with the SEC.