Print   



Date:                    18 June 2008

On behalf of:        Vectrix Corporation ('Vectrix' or 'the Company')

For immediate release

Vectrix Corporation 

Issue of Equity 

Middletown, R.I. - Vectrix Corporation (AIM: VRX) (www.vectrix.com), maker of the world's first high performance, two-wheel zero emission vehicle (ZEV), announces that that it has issued  shares of common stock, par value 10 US cents each, in the Company ('Common Stock') as described below.

Two million eight hundred and one thousand four hundred and one (2,801,401) shares of Common Stock have been issued to Carlo DiBiagio, the Company's former Chief Operating Officer. The Common Stock was issued in connection with the vesting of restricted stock unit awards granted pursuant to Mr. DiBiagio's employment agreement.

Three hundred thousand (300,000) shares of restricted Common Stock have been issued to Scott Williams, Chief Sales Officer of the Company, as a part of Mr. Williams' compensation package. Mr. William's restricted stock will vest on April 16, 2010, or upon a change of control, if earlier. 

Application has been made to the London Stock Exchange for these shares to be admitted to trading on AIM, which is expected to take place on 23 June 2008. 

Following admission, the Company will have 282,686,331 shares of voting common stock Shares in issue.  

- Ends -

Enquiries to:

VECTRIX Corporation                        www.vectrix.com 

Chris Moe, Chief Financial Officer        (401) 848-9993

Redleaf Communications                   vectrix@redleafpr.com

Emma Kane / Paul Dulieu                     +44 (0)20 7822 0200

HSBC

Nick Donald / Nic Hellyer                        +44 (0)20 7991 8888

Notes to Editors

About Vectrix

• Vectrix listed on AIM in May 2007 and is the developer of the world's first high performance, zero emission, electric motorcycle which is at least 10 times more powerful than existing electric power two wheel vehicles.

• Vectrix is dedicated to developing and commercializing zero emission vehicle platform technologies focused on two-wheel applications. Longer term, Vectrix plans to develop environmentally sensitive technologies for other segments within the transportation industry. 

• Vectrix is headquartered in Middletown, Rhode Island, USA, has a modern vehicle assembly facility in Wroclaw, Poland and an R&D center in New Bedford, Massachusetts.

• Vectrix was awarded the 2006 Frost & Sullivan Award for Technology Innovation and Leadership in Alternative Vehicle Technologies.

• Transportation is the largest single source of air pollution in the world. A typical motorcycle/scooter produces significantly more CO2 and pollutants than a large diesel truck, and far more than a modern low emission automobile. The Vectrix bike utilizes innovative zero-emission technology, offering customers a clean, affordable, and much needed alternative.

ENDIOEILFSRREIDLIT