Location Based Technologies, Inc. - Third Quarter Update

IRVINE, Calif., July 21 /PRNewswire-FirstCall/ -- On Wednesday, July 21, 2010, in Irvine, California, Location Based Technologies, Inc. (OTC Bulletin Board: LBAS), a leading-edge service provider of personal, pet and asset location devices, provides a current Company update.

The past two years have been difficult with the technology industry facing one of the worst economic downturns on record. LBT has been affected by this and the ongoing need for funds to launch the product and we thank our many shareholders for their continued support and belief in the Company.  In addition to our shareholder support, it has taken the unwavering dedication and commitment of the entire LBT team of vendors and contractors which has allowed the Company to survive and make tremendous progress while other less fortunate tech companies have folded during these difficult financial times.

One accomplishment has been the sales launch of the Pocketfinder Vehicle device (great for motorcycles, watercraft, and the family car) which is available for immediate delivery. It can be ordered by clicking on the link http://pocketfinder.com/products/vehicle/.  It is a great tool to keep families connected, coordinate schedules and enjoy all of the benefits that the Pocketfinder product line has to offer. Additionally, the Company will be engaging an initial sales team to launch http://pocketfinderschools.com/ for the coming back-to-school year.  This strategy is consistent with our family friendly approach and will provide peace of mind for the parents of new drivers.

Our long awaited and featured products, PocketFinder® and PetFinder®, have received all approvals and certifications necessary, as of June 17th, 2010, for global sales with receipt of AT&T's Network approval.  The Company continues to see significant demand for the entire product line and, upon receiving funds from one of the multiple investment groups that we are working with, we will move rapidly to fill existing purchase orders and to deliver product within 90 days of receipt of funds.

The progress that the Company has made over the past year, with limited funds, has positioned it in a way that will allow it to thrive in multiple markets and become a leader in the LBS space!

About Location Based Technologies

A publicly traded company (OTC Bulletin Board: LBAS), Location Based Technologies designs and develops customized solutions along with its leading-edge personal locator devices and services that incorporate patented, proprietary technologies designed to enhance and enrich the way businesses and families interact globally. For more information, visit http://www.pocketfinder.com.

This news release contains forward-looking statements that involve risks and uncertainties.  Actual results and outcomes may differ materially from those discussed or anticipated.  For a more detailed discussion of these and associated risks, see the company's most recent document filed with the Securities and Exchange Commission.

SOURCE Location Based Technologies, Inc.