Eco City Vehicles : One80 Licence fee update

12 August 2014

Eco City Vehicles PLC

("ECV" or "the Group")

One80 Licence Fee Update

Eco City Vehicles PLC, the supplier of the licensed Mercedes Vito taxi, provides the following update regarding the license fee income of One80 Limited ("One80"), the Group's technology subsidiary.

One80 owns the intellectual property rights to the rear wheel steer technology used on the Mercedes Vito London licensed taxi and some of the taxi design rights. One80 is party to a licence agreement, signed in July 2011, which provides a fixed licence fee per Vito taxi produced.

One80 has been notified by its licensee that further production is currently on hold owing to existing stock levels of completed vehicles. Stock levels as 31 July 2014 were 179 units vs 51 on 31 July 2013. The Board expect production to resume in October subject to September sales performance.

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