Early Warning Report in Accordance with National Instrument 62-103

TORONTO, June 6, 2011 /CNW/ - Mr. Richard Crumly, a director of XPEL Technologies Corp. (the "Company"), announced that he, through Adamas LLC, a Nevada limited liability company of which he is the sole member, indirectly acquired an aggregate of 2,123,613 options (each an "Option") of the Company from two parties arm's length to Mr. Crumly and the Company.  Although the Options were acquired on May 26, 2010, they do not become exercisable until June 15, 2011 at which time they are exercisable into one common share in the capital of the Company (each a "Share") upon the payment of an exercise price of US$0.05 per Share.  The Options expire on June 30, 2011.

Therefor, as a result of the Options becoming exerciseable on June 15, 2011, Mr. Crumly indirectly owns and exercises control over an additional 2,123,613 Shares, being approximately 8.24% of the outstanding Shares.  Mr. Crumly now owns, directly or indirectly, or controls an aggregate of 5,002,519 Shares being approximately 19.45% of the outstanding Shares.  For additional information, please see the early warning report filed by Mr. Crumly dated June 6th, 2011.

Mr. Crumly also announced errors in the early warning report filed by him dated June 28, 2010 and in the press release issued by the Company related thereto.  Such documents stated that Mr. Crumly "with entities he controls has purchased 2,940,906 common shares" and that Mr. Crumly "with entities he controls directly owns or controls 3,328,906 common shares".

Such documents should have stated that Mr. Crumly acquired ownership and control over 2,440,906 Shares, being 500,000 less Shares than were originally reported as having been acquired and being 9.49% of the outstanding Shares.  They also should have stated that, after giving rise to the acquisition, Mr. Crumly has ownership and control of 2,878,906 Shares, being 450,000 less Shares than we originally reported as having been owned or controlled by Mr. Crumly and being 11.19% of the outstanding Shares.

On June 6th, 2011, Mr. Crumly re-filed the early warning report correcting this error and making the consequential amendments to the information provided therein.

SOURCE Richard Crumly

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Richard Crumly

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