LOX Lorex Technology

LOREX Technology Inc. (TSX VENTURE:LOX) ("LOREX") announced today that at a
special meeting of the shareholders of Lorex (the "Meeting") held earlier today,
LOREX received the requisite shareholder approval for the plan of arrangement
(the "Arrangement"), pursuant to which FLIR Systems, Inc. will acquire all the
issued and outstanding common shares of LOREX (the "Common Shares"). Over 77% of
LOREX's shareholders were represented in person or by proxy at the Meeting, and
over 99% of the Common Shares voted at the Meeting were voted in favor of the
special resolution approving the Arrangement.


Under the Arrangement, LOREX shareholders will receive Cdn $1.30 in cash for
each outstanding Common Share, which represents a premium of approximately 35.4%
to the trading price of the Common Shares on the TSX Venture Exchange (the
"TSXV"), being Cdn $0.96, on October 24, 2012, the last trading day on the TSXV
prior to the announcement of the Arrangement, and represents a premium of
approximately 34% over the thirty-day average trading price for the Common
Shares on the TSXV, being Cdn $0.97, for the period ending October 23, 2012,
valuing LOREX at approximately C$60 million in total enterprise value.


The completion of the Arrangement remains subject to final court approval, which
LOREX will seek on December 19, 2012, with a view to completing the Arrangement
on December 20, 2012.


Full details of the Arrangement and certain other matters are set out in the
management information circular of LOREX (the "Information Circular") dated
November 12, 2012. A copy of the definitive agreement, the Information Circular,
and other meeting materials can be found under LOREX's profile at www.sedar.com.


FORWARD-LOOKING INFORMATION

This news release contains certain statements that may be deemed
"forward-looking statements." Forward-looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Forward-looking statements in
this press release relate to LOREX's completion of the Arrangement. The
forward-looking information reflects predictions and does not in any way reflect
a guarantee. Factors which could cause actual results to differ materially from
current projections include, among other things: the conditions in the
definitive agreement not being satisfied prior to the outside date of the
agreement including LOREX not obtaining the final court approval or approval of
the TSX Venture Exchange. LOREX cautions that this is not an exhaustive list of
factors that may affect the forward-looking information contained in this press
release. Potential investors and readers are urged to give careful consideration
to all of these factors in evaluating any forward-looking information and are
cautioned not to place undue reliance on such information. While LOREX believes
that its projections are reasonable, results predicted in this forward-looking
information may differ materially from actual results. LOREX disclaims any
obligation to update forward-looking information, except as may be required by
law.


ABOUT LOREX TECHNOLOGY INC.

LOREX Technology Inc. provides businesses and consumers with leading edge video
surveillance security solutions and sells its products under the LOREX and
Digimerge brands. The LOREX brand, which caters to both small business and
consumer markets, is available in thousands of retail locations across North
America. The Digimerge division distributes its products through major
distributors in North America. Both brands concentrate on the sale of wired,
wireless and IP security surveillance and monitoring equipment including
cameras, digital video recorders and all-in-one systems.


FOR FURTHER INFORMATION PLEASE CONTACT: 
LOREX Technology Inc.
Eric Miller
Chief Financial Officer
(905) 946-8589, ext. 168
eric.miller@lorexcorp.com
www.lorextechnology.com

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