Financing 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 an update to its RNA of 22 January 2009. On that date, the Company described the efforts underway to secure new funding for operations. While those efforts are continuing, the Company currently is unlikely to complete a fund raising by the end of March as targeted. The Company is engaged in discussions with existing shareholders and other interested parties for temporary financing to provide required working capital beyond the March time frame, while continuing to seek out additional equity capital. The Company is also engaged in efforts to secure Government based loan or grant support to gain access to working capital. If we are unable to complete temporary financing and or new equity capital, the Directors will seek other strategic alternatives which could include a merger or sale of the business.  In addition the Company may not be able to publish its fiscal 2008 annual accounts to shareholders by 31 March 2008 as required by the AIM rules.  The Company will provide updates to the market as we progress through these activities. 

As was stated in its 22 January 2009 RNA, the Company continues to expect year over year growth in its 1st half FY2009 versus 1st Half FY2008 as a result of an increase in points of sale and dealer indications relative to spring product orders. We continue to see growth in our distribution network and expect to end the 1st Half with over 200 points of sale worldwide. We have begun delivery of our new VX1E in this month and the new VX2 product remains on schedule for deliveries in June of this year. We believe that our business strategy and execution remains sound and as we move into the spring selling season we expect to see sales acceleration in the 2nd Half of FY2009. 

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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.