Belgium's La Poste Purchases Oxygen's Electric Scooters; The Belgian Post Operator Awarded Oxygen with a 2-year contract

De Post-La Poste, the national postal company of
Belgium, and Oxygen, an Italian manufacturer of light electric
vehicles, have signed a two-year contract for the supply of electric
scooters. The first set of 50 Oxygen scooters will be tested by the
Belgian post operator over the next six months, after which La Poste
will decide on the further integration of the "Postscooter" within the
La Poste fleet. The Postscooter will enable the fleet of La Poste to
deliver mail door-to-door on a daily basis (currently about a
5,000-scooter fleet).
   The European bid was awarded to Oxygen after testing the scooters
in a rigorous working environment. The "Postscooter" has been
specifically designed to perform heavy duties and to make frequent
stops. The scooters can perform the same tasks as traditional scooters
without polluting the environment or making noise and at considerable
cost savings over fuel. In addition to the environmental and cost
benefits the scooter requires minimal maintenance. The Oxygen scooters
offer a comfortable ride and excellent handling, a cargo box that can
be custom designed to store a variety of commodities, such as parcels,
and travel a range of up to 150 kilometers (approximately 100 miles).
   The Oxygen scooters are the only electric scooters in the market
featuring the latest technologies, such as Valence Technology's
(Nasdaq:VLNC) Saphion(R) Lithium-Ion rechargeable batteries, brushless
motor, electronic engine control and regenerative braking system to
recharge the battery. Oxygen's technology is leading the postal
industry effort to reduce pollution and global warming. Other European
postal companies are in the process of purchasing or testing the
Oxygen Postscooter.
   "Selecting Oxygen as our electric scooter for our mail delivery is
consistent with the commitment of De Post-La Poste to reduce pollution
emissions and to respect the community," said Johnny Thijs, CEO of De
Post-La Poste.
   "We are excited and proud to become a strategic partner of De
Post-La Poste which is demonstrating to be an innovator and a market
leader," said Michele Hausmann, co-Founder and President of Oxygen
S.p.A. "Going forward, postal and parcel delivery companies, police
organizations and food delivery chains will enjoy an efficient,
cost-effective, silent, safe and green transportation solution that
requires minimal maintenance."
   "Oxygen electric-powered Postscooters offer benefits to both the
bottom and the top-line of postal and courier delivery service
companies helping our clients save money, increase their revenues and
improve their corporate image," said Tommaso Stefani, Vice-President
of Oxygen S.p.A. "In fact, by using a fleet of electric scooters,
delivery companies can save up to 90 percent of energy costs, minimize
maintenance expenses and optimize their efficiency rates, while
enjoying faster delivery, higher productivity and driver safety. These
benefits also have a positive impact on a company's corporate image
and corporate social responsibility rating."