An asset tracking and panic alarm system includes: a tracking device for mounting in an asset; a panic alarm pendant for carrying by a person; a RF receiver module for mounting in the asset for receiving a panic alarm signal from the pendant; and, a server coupled to a cellular telephone network and to a client terminal; the server including means for receiving the panic alarm indication and GPS information from the tracking device via the cellular telephone network; the server including means for determining a location of the asset from the GPS information: the client terminal for displaying the panic alarm indication and the location to a user, thereby notifying the user that the person has activated the panic alarm switch within a predetermined radius from the asset.