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LOJACK CORPORATION REPORTS THIRD QUARTER 2002 RESULTS

Westwood, MA, November 4 -LoJack Corporation, (NASDAQ NMS: "LOJN") reported that for the third quarter ended September 30, 2002 revenues increased by 26% to $31,087,000, from $24,657,000 in the same period a year ago. The net income for the third quarter was $813,000, or $.06 per diluted share, compared to net income of $967,000, or $ .06 per diluted share, for the same period a year ago.

Revenues for the nine months ended September 30, 2002 were $88,906,000 compared to revenues of $72,294,000 for the same period a year ago, an increase of 23%. Net income was $925,000, or $.06 per diluted share, for the first nine months of 2002, compared to $3,262,000, or $.20 per diluted share, for the first nine months of calendar year 2001.

Domestic revenues increased by 31% in the third quarter to $26,059,000, compared to $19,849,000 for the same period a year ago. International revenues for the third quarter were $5,028,000, an increase of 5% compared to revenues a year ago of $4,808,000. For the first nine months of 2002, domestic revenues exceeded the prior year by $15,014,000, or 25%, while international revenues exceeded the prior year by $1,599,000, or 12%.

Additions to deferred revenue, relating to payments received for warranty products sold in the three and nine months ended September 30, 2002, totaled $1,641,000 and $4,512,000, respectively. The company receives full payment for its warranty products at the time of purchase, but recognition of this revenue is spread over the life of the warranties. These payments are becoming an increasingly significant component of the company’s cash flow from operations.

In announcing the results, Ronald J. Rossi, chairman, said, “Revenues for the third quarter represented a new record for the company. While new car sales increased by 9% in the third quarter compared to year ago levels, sales of LoJack units exceeded the same period a year ago by 35%. For the fourth quarter in a row, sales of LoJack units exceeded the same period a year ago by more than 21%. We are also very pleased with our progress in implementing our strategic business plan to invest in product development, marketing, sales and information technology. The results of this quarter illustrate that our initiatives are now bearing fruit, producing profitable growth. As we look towards the remainder of this year and 2003, we expect to continue to grow our profits through the combination of maintaining our investment in our successful marketing programs and achieving scale in the other aspects of our business.

"We are also pleased with the initial reception of our new Early Warning product, launched on October 1, 2002 in the Northeast. The new system, which builds upon our core product and historical expertise, provides consumers proactive notification if their car has been moved without their permission. The broad marketing initiatives we have implemented to introduce the product continue to enhance our brand and our market presence. It is currently available in the Northeast and will be introduced nationwide in the first quarter of 2003."

To access the webcast of the company’s conference call to be held at 9:00 AM EDT, Monday, November 4, 2002 log onto: http://www.firstcallevents.com/service/ajwz369284230gf12.html The webcast will be available for one week, until November 11, 2002.

From time to time, information provided by the company or statements made by its employees may contain "forward-looking" information, which involve risk and uncertainties. Any statements in this news release that are not statements of historical fact are forward-looking statements (including, but not limited to, statements concerning the characteristics and growth of the company’s market and customers, the company’s objectives and plans for the company’s future operations and products and the company’s expected liquidity and capital resources). Such forward-looking statements are based on a number of assumptions and involve a number of risks and uncertainties, and accordingly, actual results could differ materially. Factors that may cause such differences include, but are not limited to: the continued and future acceptance of the company’s products and services; the effectiveness of the company’s marketing initiatives; the rate of growth in the industries of the company’s customers; the presence of competitors with greater technical, marketing, and financial resources; the company’s ability to promptly and effectively respond to technological change to meet evolving customer needs; capacity and supply constraints or difficulties; and the company’s ability to successfully expand its operations. For a further discussion of these and other significant factors to consider in connection with forward-looking statements concerning the company, reference is made to the company’s Annual Report on Form 10-K for the transition period from March 1, 2001 to December 31, 2001.

NOTE: The full text of this news release as well as current financial statements may be accessed on the Internet at: http://www.firstcallevents.com/service/ajwz363656607gf12.html. Each quarter’s release is archived on the web site under LoJack Financial Information during the fiscal year. The company’s Annual Report, Form 10-Q and Form 10-K filings will also be available on its web site. Copies of the company’s financial information, including news releases, may also be obtained by contacting Swanson Communications, Inc. at (516) 671-8582.

Contact:
Joseph F. Abely, President
(781)326-4700

John Swanson
Swanson Communications, Inc.
(212) 683-4890