Under terms of the agreement, PowerLOC will commerce delivery of its VLD-R1 mobile tracking devices to Guardian during the fourth quarter of 2000. Guardian will deliver the solution through a network of distributors that have alliances within the financial service industry for asset recovery.

"Our network of repossession agents is expecting this unique solution to help them deliver improved services to their customers and will allow them to enhance their relationships. By allowing searches by the financial institution over the Internet, they can in a timely manner ensure speedy recovery of the asset," said David Craze, President of Guardian.

The L-Biz system and architecture is an advanced GPS-based tracking solution. There are three key components to the L-Biz technology.

• The Mobiles: Ergonomically designed, low-cost, miniature mobile-location GPS tracking devices that transmit their positions over existing national and international cellular networks of all types.
• The Tracker: A centrally managed server that connects directly to the wireless network and manages tens of thousands of mobile devices.
• The Client: Client software that runs on any PC that has Internet access, and allows the user to view one or more of the mobile devices on a map for location as well as providing other useful data on the device, such as direction, speed, and previous movements.