FOR IMMEDIATE RELEASE:
CONTACT:
Gabriel Technologies Corp
Dan Chicoine
Investor Relations Officer/VP of Marketing
(402) 614-0258 (402) 306-6943
dchicoine@gabrieltechnologies.com
GABRIEL TECHNOLOGIES
AND OOIDA ALLIANCE STRENGTHENS HOMELAND SECURITY ON NATION’S
HIGHWAYS
Major Insurance Savings and War-Lok Security Locking System Distribution
Program Unveiled
Omaha, Neb. – Gabriel Technologies
Corp (NASD OTCBB: GWLK) founders of the WAR-LOK™ transportation
security product line, today announced an unprecedented truck
and cargo security and insurance alliance with OOIDA, the 119,061
member Owner-Operator Independent Drivers Association. The alliance
has the potential to provide economic benefits to the two companies
and their customers, and strengthen homeland security.
The agreement calls for OOIDA’s wholly owned subsidiary,
Owner Operator Services, Inc. (OOSI) to offer 10% premium discounts
on the key Physical Insurance and Cargo Coverage insurance it
sells to OOIDA members, provided they buy and use Gabriel Technologies’
WAR-LOK TSK-50 Security System. The WAR-LOK system, in turn, comes
with its own insurance covering the deductibles on the OOSI policies.
Gabriel Technologies recently insured the WAR-LOK TSK-50 through
a Lloyds of London underwriter, Adriatic Insurance Company. The
insurance covers the deductible payments on WAR-LOK users’
truck and cargo insurance policies -- up to a $10,000 deductible
on tractor insurance and up to a $25,000 deductible on cargo insurance.
Since these limits meet or exceed the deductibles on the OOSI
Physical and Cargo products, holders of these policies who order
the WAR-LOK TSK-50 systems get full coverage on the deductibles
applied to insured losses that occur while the WAR-LOK systems
are in use. OOSI is supplying the WAR-LOK TSK-50 systems at the
specially reduced price of $189.00 (vs typically $299.50 at retail).
The 10% discount saves the OOSI coverage buyer more than the cost
of the system in the first year alone -- and the 10% savings will
continue year after year.
Keith Feilmeier, President and Chief Executive Officer of Gabriel
Technologies said, “This agreement will bring major benefits
to Gabriel Technologies, OOSI and the OOIDA members it insures
and to all Americans. “Our goal is to get 100% of OOSI’s
insurance buyers to participate in the WAR-LOK insurance security
program. But first year penetration of even 60% could produce
net income up to 40 cents a share for our shareholders,”
he said. “The alliance also will increase OOSI’s revenue
and reduce the incidence and financial impact of the losses it
insures. Most important, it will strengthen our homeland security
by denying terrorists access to tens of thousands of trucks and
their cargoes,” Feilmeier said.
Michael Shermoly, Director of Marketing for OOIDA, said: “A
significant number of OOIDA’s members already insure their
tractors and cargoes with OOSI and we estimate this alliance will
help drive 10% annual growth in the number of our Insureds. In
addition, the alliance with Gabriel Technologies and the WAR-LOK
product line will reduce insured losses and hence costs, helping
OOSI continue to offer its valuable coverage at highly favorable
rates,” he added.
The WAR-LOK TSK-50 package includes a TL-10 (a cast steel barrier
box with a reusable, removable, keyed locking device that fits
securely over the hasp of most trailers with swing-out doors),
TKP-10 (a king pin lock designed for dropped trailers), TAB-10
(a truck air brake lock that protects idling trucks from theft
by completely encasing the air valves), TGH-10 (a glad hand lock
that protects a trailer’s air brake system from being connected
to the tractor) and a Top Security Padlock, all in a convenient
carrying case. All locks can be keyed alike or individually.
OOSI’s current Insureds and all OOIDA members are eligible
to save 10% on both the Physical Insurance and on the Cargo Coverage.
To do so they may simply call OOIDA at 1.800.444.5791 and request
the OOSI savings.
All WAR-LOK security products have over 260 million possible key
combinations and the ability to master key 20,000 different locks.
Each product’s locking core is designed with a flat-keyed
locking system. Each component of the disc type cylinder has been
designed to withstand the harsh environments of the transportation
industry. All components are made of chrome-plated steel. The
locking cores are pick resistant, drill resistant and key duplication
is virtually impossible.
About OOIDA:
Founded in 1973, OOIDA is the national trade association representing
the interests of small business trucking professionals in the
United States of America. Small business truckers (companies operating
six or fewer trucks) comprise over 70% of the motor carrier industry.
OOIDA represents more truck drivers and more trucking companies
than any other association in that industry. The Association’s
119,061 active membership is spread through all 50 states.
About Gabriel Technologies Corporation:
Gabriel Technologies of Omaha, Neb, develops proprietary technology
for, and manufactures and sells, a series of physical locking
systems for the transportation/shipping industry collectively
known as the WAR-LOK Security System. Security within the transportation/shipping
industry has evolved substantially in recent years due to the
increased risks in theft and terrorism. In the United States alone
cargo theft accumulates for $15 billion in annual losses.
With the implementation of our award winning physical security
product line, the WAR-LOK, Gabriel Technologies now provides the
transportation/shipping industry cost efficient security measures
to prevent theft and other security problems that affect our nation
and global economy. Homeland security is Gabriel’s top priority
and the company is poised with a proven product line to help deter
terrorists who try to threaten our nation’s security and
disrupt the flow of commerce.
Gabriel Technologies’ mission is clear, to provide the highest
quality security products available to the transportation and
shipping industry – by creating innovative, proven technologies
that can be implemented on a realistic basis in today’s
post 9/11 economy.
SAFE HARBOR Information in this news release may contain statements
about future expectations, plans, prospects or performance of
Gabriel Technologies Corporation that constitute forward-looking
statements for purposes of the safe harbor provisions under the
Private Securities Litigation Reform Act of 1995. The words or
phrases ``can be,'' ``expects,'' ``may affect,'' ``believed,''
``estimate,'' ``project,'' and similar words and phrases are intended
to identify such forward-looking statements. The company cautions
you that any forward-looking information provided by or on its
behalf is not a guarantee of future performance. None of the information
on this news release constitutes an offer to sell securities or
investment advice of any kind, and visitors should not base their
investment decisions on information contained in this website
The company's actual results may differ materially from those
anticipated in such forward-looking statements as a result of
various important factors, some of which are beyond the company's
control, in addition to those discussed in the company's press
releases, public filings, and statements by the company's management,
including, but not limited to, estimates of the sufficiency of
its existing capital resources, abilities to raise additional
capital to fund future operations and repay its existing indebtedness,
and the uncertainties involved in estimating market opportunities.
All such forward-looking statements are current only as of the
date on which such statements were made. The company does not
undertake any obligation to publicly update any forward-looking
statement to reflect events or circumstances after the date on
which any such statement is made or to reflect the occurrence
of unanticipated events.
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