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Vectrix Announces Tax Credit through American Recovery and Reinvestment Bill and New Consumer Finance Program with Sparta Commercial Services

Middletown, R.I.-February 23,-Vectrix Corporation (www.vectrix.com), the maker of the world's first high performance, two-wheel zero emission vehicle, today announces that the American Recovery and Reinvestment Bill signed into law in the United States on February 17 includes incentives towards the purchase of Vectrix's all-electric motorcycles. 

The Clean Energy Stimulus and Investment Assurance Act of 2009, which is part of the overall stimulus package, invests more than $2 billion in electric vehicle technology and provides consumers with tax credit provisions to purchase a wide variety of road-ready plug-in electric drive vehicles.  The legislation grants a 10 percent tax credit to purchasers of Vectrix's all-electric motorcycles and allows them to take a federal tax deduction for state sales and excise taxes paid on the purchase of a Vectrix motorcycle.

Michael Boyle, CEO of Vectrix commented: 'This bill makes it possible for more consumers to purchase the cleanest running vehicles out there today. It will have a huge impact not only on reducing emissions, but creating jobs and reducing our dependence on foreign oil.' 

In addition, Vectrix announces that it will offer consumer financing to purchasers of its products in the United States through Sparta Commercial Services. Under the agreement with Sparta, financing for consumers will be available for all Vectrix models at Vectrix dealers across the US, as well as for government agencies wishing to lease vehicles for their fleets.

Michael Boyle, CEO of Vectrix commented: 'We're excited to offer consumer financing through the power sports specialist Sparta Commercial Services, providing consumers and fleet purchasers with options that make it easier than ever to ride a Vectrix. We already have the largest nationwide dealer network of any electric vehicle manufacturer and offer the only true product family of electric road vehicles. With consumer financing in place, we are well positioned to continue our growth and make Vectrix available to more and more people.'

Anthony L. Havens, Sparta President and CEO said: 'Sparta Commercial Services is pleased to form this new relationship with Vectrix to provide financing of the Vectrix product line. This first-ever program places Sparta at the front of the electric conversion revolution. We have a corporate commitment to provide financing that encourages advanced, entrepreneurial technologies and products that promote an improving environment. We look forward to working with Vectrix and its dealer organization in launching this exciting new program.'

About Sparta Commercial Services

Sparta Commercial Services, Inc. (www.spartacommercial.com) is an Internet-based acceptance (sales finance) and leasing company dedicated exclusively to the power sports industry, concentrating on motorcycles over 600cc, 4-stroke all-terrain vehicles, and select scooters through our programs for manufacturers, distributors, and dealers. Sparta provides a full line of financing solutions including indirect retail installment sales contracts and direct closed-end leases, as well as related services.

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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.

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