Print   



Date	4 December 2008
On behalf of:	Vectrix Corporation ('Vectrix' or 'the Company')
For immediate release

Trading Update

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 plans to accelerate its next round of fund raising as a result of a lower than expected level of dealer orders during the first quarter of its current fiscal year  ending 30 September 2009. Management views the reduction in expected orders as a consequence of the recent and current credit crisis world wide. The Company believes that its dealers have reacted to curtailed credit lines and the tighter approval of credit purchases by lending institutions by lowering order activity until markets stabilize. Management remains optimistic about market recovery due to the continued levels of new dealer interest world wide and consumers' high level of interest in environmentally sensitive technologies and zero emission vehicles. 

The board of directors of Vectrix is evaluating multiple options for fund raising which could include a cancellation of the AIM admission of the Company's common stock if it is deemed that the prospect of raising funds expeditiously is enhanced as a result of a cancellation of the AIM facility. Any such cancellation would be subject to the approval of the Company's shareholders

Mike Boyle, President and CEO of Vectrix commented: 'I am disappointed with the impact of the world wide credit crisis and in the current climate believe that it is prudent for Vectrix to accelerate its fund raising plans to provide additional working capital and to ensure that the Company's program for the expansion of its model line remains on course.'  

- Ends -

Enquiries to:

VECTRIX Corporation	www.vectrix.com
Michael J. Boyle, President and CEO	(401) 848 9993
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.

ENDTSTGIBDDGDGGGIS