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Date: 15 October, 2008

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

For immediate release

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 it has issued  shares or rights to receive shares of common stock, par value 10 US cents each, of the Company ('Common Stock') as described below.

Seventy seven thousand one hundred and forty two (77,142) shares of restricted Common Stock have been issued to Michael Joseph, a consultant to the Company as a part of Mr. Joseph's compensation package. Mr. Joseph's restricted stock will vest on January 1, 2009. Additionally, a pro-rata portion thereof will vest if Mr. Joseph's consultancy is terminated earlier for certain reasons outlined in his consultancy agreement.

One hundred thousand (100,000) shares of restricted Common Stock have been issued to John Schnorr,
Treasurer of the Company, as a part of Mr. Schnorr's compensation package. Mr. Schnorr's restricted stock will vest on 22 May, 2010, or upon a change of control, if earlier. 

Restricted stock is subject to forfeiture if the employee or consultant voluntarily terminates his employment or consultancy or is terminated by the Company for cause.

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 15 October, 2008. 

Following admission, the Company will have 283,313,473 shares of voting Common Stock in issue.

In addition to the above, one million two hundred thirty two thousand five hundred restricted stock units awards have been made to employees of the Corporation. Each award of a restricted stock unit allows the grantee to receive a share of Common Stock of the Company on September 30, 2011, or upon a change of control, if earlier. Restricted stock units are also subject to forfeiture if the employee voluntarily terminates his employment or is terminated by the Company for cause.

- Ends -

Enquiries to:

VECTRIX Corporation                         www.vectrix.com 

Catherine Meier, General Counsel         (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.

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