Strategic Update

 

TIDMVRX 
 
RNS Number : 5617Q 
Vectrix Corporation 
14 April 2009 
 

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| Date                    | 14 April 2009                                         | 
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| On behalf of            | Vectrix Corporation ("Vectrix" or "the Company")      | 
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Vectrix Announces Exploration of Strategic Initiatives and Reduction in Work 
Force 
 
 
Middletown, R.I.- April 14 - Vectrix Corporation (AIM: VRX) (www.vectrix.com), 
maker of the world's first high performance, two-wheel zero emission vehicle 
(ZEV), announces that while its efforts continue to secure new equity funding 
and government based loan or grant support as well as temporary financing, the 
Directors will now begin to seek other strategic alternatives which could 
include a merger or sale of the business. The Company will continue to provide 
updates to the market as we progress through these activities. In order to 
conserve working capital for continuing operations during this period, the 
Company this week implemented cost savings measures including a significant 
reduction in workforce involving some 60 staff. 
 
 
Trading in the common stock of the Company remains suspended until further 
notice. 
 
 
Ends 
 
 
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| Enquiries to:                          |                                        | 
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| VECTRIX Corporation                    | www.vectrix.com                        | 
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| Michael J Boyle, President and CEO     | [phone]                         | 
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| HSBC                                   |                                        | 
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| Nick Donald / Nic Hellyer              | [phone]                   | 
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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. 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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