METROCAB PARTNERS WITH COMCAB TO RECRUIT DRIVERS AND LAUNCH IN-MARKET TRIALS AT BORIS JOHNSON ZERO EMISSIONS TAXI EVENT

Company press release.

Frazer-Nash Energy Systems also showcases revolutionary new

Solar Charging Station at Transport for London event today

◾Leading London taxi provider, ComCab, invites its drivers to register for Metrocab trial

◾Concentrated PhotoVoltaic Technology Solar Charging showcased at City Hall

Metrocab key features:

◾>75mpg and over three times more fuel efficient than comparable current London taxi

◾>75% less CO2 than comparable current London taxi, <50g/km CO2

◾>560km combined range

◾Significantly lower running costs, typically saving a London cabbie £30 – 40 per day

◾Zero-emissions mode and home charging via standard mains outlet

◾Evolutionary design, sympathetic to iconic London taxi silhouette

◾>10 years in development and over a million engineering test kilometres

◾Six passenger seats (plus optional seventh passenger seat in the front)

◾Fully compliant with London Public Carriage Office (PCO) regulations

City Hall, London, 16 January 2014 - An all-new, purpose-built Range Extended Electric (REE) Metrocab taxi was revealed publically for the first time today at a presentation by London Mayor Boris Johnson on zero emissions taxis at City Hall.

Ready now, Metrocab, together with ComCab, is inviting drivers to register for real-world trials in the new zero-emissions capable taxi. Many cabbies registered their interest at City Hall today, and registration for the trial can also be completed at www.newmetrocab.com/trial.

The British designed, engineered and built Metrocab, from Mytchett Surrey-based Ecotive and Frazer-Nash, is a new generation zero-emissions electric-powered taxi for London, and represents the cutting edge of green transport technology with a design both evolutionary and sympathetic to the iconic black cab silhouette.

Announcing today that all new London taxis will need to be zero emission capable from 2018 as part of a pledge made last year to introduce an Ultra Low Emission Zone in central London by 2020, Mayor Boris Johnson said:

'As part of my mission to improve our air quality and drive innovation, I'm making a firm pledge to Londoners that from 2018 all taxis presented for licensing should be zero emission capable. The cleaner, greener vehicles I've seen today are proof that the evolution of the great London cab is well and truly underway.'

Metrocab Chairman Sir Charles Masefield said:

'Today's presentation by Mayor Boris Johnson of the zero-emissions models under development for London is a great opportunity for Metrocab to recruit drivers for commercial trials. The all-new Metrocab is ready now and we are keen to get our cabs on the streets of London this year for real-world trials by drivers who will experience for themselves the cost savings, environmental benefits, easy ownership and maintenance, and enhanced passenger experience offered by our revolutionary new taxi.'

He added: 'The new Metrocab looks very much at home on the streets in today's test-rides – like a true next generation London taxi.'

Also showcased by Frazer-Nash Energy Systems at City Hall today was a revolutionary new Solar Charging Station model demonstrating the company's Concentrated PhotoVoltaic Technology that converts light energy into electrical energy for charging the Metrocab lithium-ion polymer battery pack. The company is testing a full size system at its Surrey headquarters for re-charging its Range Extended Electric taxi and intends to roll-out the charging stations in London and other key cities around the world.

The Metrocab from Ecotive and Frazer-Nash is the latest in a long line of electric powered transport solutions they have marketed and developed over the last 25 years with world-class highly efficient, optimised and fully-integrated digital-electric and hybrid-electric powertrains. Priced competitively to enter the taxi market, the Metrocab is powered by a lithium-ion polymer battery pack with an electric motor to each of the rear wheels.

Following the in-market trials this year, the Metrocab will be rolled out in London and other key cities in the UK and internationally.

A new key features walk-around film of the Metrocab is available at www.youtube.com/watch?v=PNkQK0TNYcQ and drivers wishing to register for a trial in the taxi can do so by visiting www.newmetrocab.com/trial.

METROCAB DATASHEET *

GENERAL

◾Range extended electric vehicle

◾Fully compliant with London Public Carriage Office (PCO) regulations

◾Capable of zero emission operation

◾Vehicle health diagnostics and status telemetry system

VEHICLE DIMENSIONS

◾Overall length:................................. 4,905mm

◾Overall width:.................................. 1,800mm

◾Overall height:................................. 1,925mm

◾Wheel base:.................................... 3,181mm

VEHICLE WEIGHT

◾Kerb:.................................................. 1,750kg