<PAGE>
Exhibit 99.2
DESCRIPTION OF GRAPHIC PRESENTATION
------------------------------------
LOCATED ON
----------
COBRA ELECTRONICS CORPORATION'S WEBSITE
---------------------------------------
--------------------------------------------------------------------------------
Slide DESCRIPTION
--------------------------------------------------------------------------------
1 TITLE PAGE
--------------------------------------------------------------------------------
2 PRESENTATION HIGHLIGHTS
--------------------------------------------------------------------------------
3 SUMMARY DESCRIPTION OF COBRA ELECTRONICS
- Two-way mobile communications leader
- Family Radio Service (FRS) products
- Radar detection systems
- Citizen Band radios
- Number 1 or strong number 2 in each market
- Customers = travelers, sports/outdoor enthusiasts
- Distribution through:
- Consumer electronics retailers
- "Big Three" office supply super-stores
- Wal-mart, Kmart, Costco & Sam's Club
- Incorporated in 1961
--------------------------------------------------------------------------------
4 COBRA'S TRANSFORMATION OVER THE PAST THREE YEARS
- Capitalized on the high-growth FRS segment
- Secured a strong number 2 industry position
- Extended its leadership internationally
- Number 1 FRS brand in Canada
- Leading PMR brand in EU member countries
- Grew its radar market share from number 3 to number 1
- Introduced new products and technologies
- Delivered strong internal growth
- Grew net income by over 550% (1996-1999)
--------------------------------------------------------------------------------
5 INDUSTRY RECOGNITION
Cobra's transformation has been recognized by industry
observers...
- Forbes named Cobra to its list of "200 Best Small
Companies in America" in 2000
- Deloitte & Touche named Cobra as one of Chicago's
fastest growing technology companies in the firm's
"Fast 50" program in 2000
--------------------------------------------------------------------------------
<PAGE>
--------------------------------------------------------------------------------
6 COBRA'S GROWTH STRATEGY
Strategy Milestone
-------- ---------
Expand internationally ----> Sales in 32 countries
Extend distribution ----> Grew retail chain accounts
by 20% (1997-1999)
Develop new markets ----> Strong Number 2 in FRS
Strategic acquisitions ----> Lowrance Electronics
--------------------------------------------------------------------------------
7 LOWRANCE'S STRATEGIC FIT
Lowrance enhances Cobra's growth opportunity and continues its
transformation by adding...
- Attractive new market positions in GPS & SONAR
- Superior technology & manufacturing capabilities
- Expanded distribution (U.S./international)
- Opportunity for further top & bottom line growth
--------------------------------------------------------------------------------
8 LOWRANCE SNAPSHOT
- Marine/recreational GPS & SONAR leader
- Customers = travelers, fishing/outdoors enthusiasts
- Distributes through:
- Marine dealers/distributors & sporting goods stores
- Company Location
- Headquarters = Tulsa, Oklahoma
- Manufacturing plant = Ensenada, Mexico
- Incorporated in 1958
--------------------------------------------------------------------------------
9 LOWRANCE'S BUSINESSES
1. Marine/Recreational GPS
Boaters and outdoor enthusiasts use GPS to determine
location and navigation information based on satellite
data.
2
<PAGE>
--------------------------------------------------------------------------------
2. Marine/Recreational SONAR
Boaters and fisherman use SONAR to detect bottom contours,
depth and the presence of fish below water.
--------------------------------------------------------------------------------
10 GPS MARKET
GPS offers high-growth opportunities in a large, global
market...
- Industry expected to nearly triple over the next 5 years
from $5 billion in 1999 to $14 billion in 2005.
--------------------------------------------------------------------------------
11 GPS GROWTH DRIVERS
- Mobility trends
- Increased travel
- Growth of wireless communications
- "On the go" lifestyles
- Broad industry applications
- Transportation/automotive
- Communications/safety
- Construction/mining
- Wide consumer appeal
- Hiking
- Boating
- Trip planning
--------------------------------------------------------------------------------
12 GPS GROWTH OPPORTUNITY
Lowrance is well positioned to capture growth...
- Leading provider in marine & recreational markets
- Unique technologies & commitment to quality
- Strong brand recognition
- Extensive distribution (U.S./international)
--------------------------------------------------------------------------------
13 SONAR MARKET
Lowrance...
--------------------------------------------------------------------------------
3
<PAGE>
--------------------------------------------------------------------------------
- Invented the first SONAR device
- Dominated brand in the $100 million recreational market
- Drives growth by:
- Innovating technology & products
- Expanding reach to 50 million fishing enthusiasts
- Capitalizing on international growth opportunities
--------------------------------------------------------------------------------
14 LOWRANCE'S SUPERIOR TECHNOLOGY
- 50 U.S. patents
- Introduced market "Firsts"
- Handheld GPS with mapping CD-ROM
- Aviation GPS with ground mapping
- LCD product offering with GPS, mapping and SONAR
capabilities
- Leading innovator for more than 40 years
- Lowrance's technology provides Cobra opportunity for new
product development
--------------------------------------------------------------------------------
15 LOWRANCE'S SUPERIOR MANUFACTURING FACILITY
- High-quality facility in Ensenada, Mexico
- Technologically/operationally state-of-the-art
- 108,000 square feet
- Designed for expansion
- Highly cost-effective production
- Lowrance's plant provides Cobra opportunity to manufacture
its high-end products
--------------------------------------------------------------------------------
16 EXPANDED DOMESTIC DISTRIBUTION
Lowrance expands Cobra's distribution in the U.S. ...
- Opportunity to cross-market products through common
channels
- Adds new complementary channels
--------------------------------------------------------------------------------
4
<PAGE>
--------------------------------------------------------------------------------
- Marine dealers/distributors
- Sporting goods stores
--------------------------------------------------------------------------------
17 EXTENDED GLOBAL REACH
Lowrance enhances Cobra's international presence ...
- Stretches reach from 32 to 60 countries
- Expands European market coverage
- Deepens market presence in Canada & Australia
--------------------------------------------------------------------------------
18 ENHANCED FINANCIAL STRENGTH
Lowrance strengthens Cobra's financial potential with
profitable growth opportunities ...
- Complementary products
- Leading technologies
- High-quality manufacturing
- New distribution
--------------------------------------------------------------------------------
19 TRANSACTION SUMMARY
Value - Approximately $53 million, including stock purchase &
assumption of debt
Terms - Stock purchase for $8.25/share in cash & an estimated
$21.9 million in debt at closing
Financing - Senior financing provided by LaSalle Bank, GE
Capital & BT Commercial. Subordinated financing by
American Capital Strategies
Close - Targeted February 28, 2001
Organization - Lowrance becomes a wholly-owned subsidiary of
Cobra
Lowrance Management - Continues to manage the company
--------------------------------------------------------------------------------
20 ACQUISITION BENEFITS
- Lowrance extends Cobra's growth opportunity. And, in so
doing, it strengthens Cobra's
--------------------------------------------------------------------------------
5
<PAGE>
--------------------------------------------------------------------------------
value to shareholders
--------------------------------------------------------------------------------
21 SAFE HARBOR
Certain statements in this presentation regarding Cobra's
long-term growth, value creation, and dominance of the
relevant market place are forward-looking statements that
invoke substantial risks and uncertainties. Actual results may
differ materially from those implied by such forward-looking
statements as a result of various factors. Readers are
encouraged to review Cobra's Annual Report on Form 10-K and
quarterly report on Form 10-Q for the third quarter of 2000
for other important factors that may cause actual results to
differ materially from those implied in these forward-looking
statements.
--------------------------------------------------------------------------------
22 TENDER OFFER LEGEND
This announcement is neither an offer to purchase nor a
solicitation of an offer to sell shares of Lowrance. At the
time a subsidiary of Cobra commences its offer, it will file a
Tender Offer Statement with the Securities and Exchange
Commission and Lowrance will file a
Solicitation/Recommendation Statement with respect to the
offer. THE TENDER OFFER STATEMENT (INCLUDING AN OFFER TO
PURCHASE, A RELATED LETTER OF TRANSMITTAL AND OTHER OFFER
DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT WILL
CONTAIN IMPORTANT INFORMATION WHICH SHOULD BE READ CAREFULLY
BEFORE ANY DECISION IS MADE WITH RESPECT TO THE OFFER. The
offer to purchase, the related Letter of Transmittal and
certain other offer documents, as well as the
Solicitation/Recommendation Statement will be made available
to all stockholders of Lowrance, at no expense to them. The
Tender Offer Statement (including the Offer to Purchase, the
related Letter of Transmittal and all other offer documents
filed with the Commission) and the Solicitation/Recommendation
Statement will also be available for free at the Commission's
Web site at www.sec.gov.
