<PAGE>
Exhibit (a)(1)(H)
[Cobra Logo]
FOR IMMEDIATE RELEASE
Investor Contact: Gerald M. Laures
Vice President - Finance
Cobra Electronics Corporation
773-804-6216
[email protected]
Media Contact: Larry Larsen
Fleishman-Hillard
312-751-3617
[email protected]
COBRA ELECTRONICS COMMENCES ITS TENDER OFFER FOR
LOWRANCE ELECTRONICS
CHICAGO, Illinois, January 16, 2001 - Cobra Electronics Corporation
(Nasdaq: COBR) today commenced its previously announced tender offer for all of
the common stock of Lowrance Electronics, Inc. (Nasdaq: LEIX) at a purchase
price of $8.25 per share in cash. Cobra is making the tender offer pursuant to
an agreement and plan of merger dated January 4, 2001. The tender offer will
expire at midnight, New York City time, on Monday, February 12, 2001, unless
extended.
The acquisition brings together premier companies from the two-way mobile
communications, SONAR, marine and recreational GPS businesses, combining their
complementary products and customers and extending Cobra's global reach.
American Stock Transfer and Trust Company is the depositary for the tender
offer. Morrow & Co., Inc. is the information agent.
For additional information, please contact Morrow & Co., Inc. at
(800) 607-0088.
About Cobra Electronics
Forbes named Cobra Electronics Corporation (Nasdaq: COBR) to its list of
"200 Best Small Companies in America" in 2000. Cobra is a leading global
manufacturer of two-way mobil
-more-
<PAGE>
communications products, holding the number one or strong number two position in
every major market in which it does business. The Family Radio Service (FRS)
business is one of the fastest growing segments of two-way mobile
communications, and Cobra is a leading FRS player in the U.S., Canada and
Europe. Cobra has a 40-year track record of innovation and award-winning
products, and leads the industry in developing technology applications that
anticipate market demand. To learn more about Cobra Electronics and its
products, please visit the Cobra site at http://www.cobraelectronics.com.
This news release does not constitute an offer to purchase or a
solicitation of an offer to sell any securities. The complete terms and
conditions of the tender offer are set forth in an offer to purchase and a
related letter of transmittal, which are included in a Tender Offer Statement
that is being filed today with the Securities and Exchange Commission. The offer
to purchase and related letter of transmittal will be mailed to Lowrance's
stockholders. The Tender Offer Statement (including the offer to purchase,
letter of transmittal and related documents) will also be available for free on
the Commission's Web site at http://www.sec.gov.
####
2
