OPTARE [OPE]

Contract Win Optare is pleased to announce that it has won a contract valued at £2m to supply Arriva with 10 of its Solo Hybrid buses for export to Malta. Arriva has been recently awarded the contract to run the bus services in Malta and Gozo by Transport Malta and the Maltese Government. Delivery is expected for June of this year. Jim Sumner CEO, commenting on the order said, "This is further great news for Optare as the order book continues to strengthen and its strategy of growing business in Green Bus and Export markets bears fruit."

[OPE] Order book at this bus operator has doubled since late 2010. With cash in the bank after a recent secondary offering fundraise of £7Mns so working capital is in place to meet forward order uptick. Borrowings will be repaid out of fundraising leaving [OPE] cash rich and interest charges costs slashed. Expect a re-rating throughout 2011 as the market catches on here !

[OPE] I have a strong feeling that we have caught Optare on a trough, and is due an upside re-rating throughout 2011/12. Let us consider the site re-location will run as smoothly as its buses ! http://www.optare.com/pr_list.htm

[OPE] Announce that it has won a contract valued at £3.6m to supply Rotala plc with 20 buses, which includes 15 Versa Hybrid buses supported by the Governments Green Bus Fund. All the buses are to a high specification including Wi-Fi connectivity, ACIS Real Time information and full CCTV camera systems and are for delivery in 2011.

[OPE] Announces today that its contract with Greater Manchester PTE has been extended to include a further 22 hybrid buses valued at £4.3 million, including Green Bus Fund support. This requirement is in addition to the 66 Hybrids ordered in May 2010 of which 20 are now in service. The buses will be delivered during Q4 this year and early Q1 2012. Jim Sumner CEO, commented, "We are absolutely delighted to have secured this repeat business on the UK's leading operation for Hybrid Buses. This takes the Order book to a record £55m and underpins the need to increase production capacity later this year."

[OPE] As previously announced the Company had planned to sell Optare's Rotherham plant in two parts and the Board is pleased to announce that the sale of the first part of the site has now been completed for just under £1 million. The Board is progressing with the sale of the second part of the site and a number of parties have given expressions of interest for the remaining part. Following the repayment of Optare's £6.3 million term loan in April this year and the completion of this first part of the sale of the Rotherham site, Optare's total term debt has been reduced to £1.4 million. The Board expects that this remaining term debt will be largely covered by the sale of the second part of the site anticipated during Q3. The Board believes that once the second part of the sale is completed and the Company's term debt is eliminated the Company will be well placed to initiate a full review of its banking position which will ensure that the Company has appropriate banking facilities in place for a company of its size and scale.

[OPE] Optare is pleased to confirm that it has signed a contract worth up to £18 million under which it will supply 190 of its Solo SR midibus model to the City of Cape Town. Optare won the business through a comprehensive competitive tendering process involving a number of global bus makers. Central to Optare's success was the support provided by Ashok Leyland and the partnership forged with South Africa's leading bus assembler Busmark 2000, who will produce the buses at a new plant in Cape Town from kits of components and sub assemblies supplied by Optare. Optare Chief Executive, Jim Sumner, said: "I am delighted that our focussed efforts on growing our overseas business continue to yield results, in this case with the award of a very significant contract from one of the world's most exciting cities. We look forward to building on this contract to supply further vehicles into this important market and to show that with our new state-of-the-art facilities at Sherburn in Elmet, Yorkshire and the significant support of our strategic partner Ashok Leyland, that we can meet demand for fleet volumes of buses at an internationally competitive cost both at home and abroad."

[OPE] The board of Alexander Dennis Limited ("ADL") has noted the announcement made by Optare plc ("Optare") on 20 December 2011 and the convening of a general meeting of the shareholders of Optare on 6 January 2012. ADL has written to the chairman of Optare and has requested information on the business of Optare in order to assess whether or not ADL might be prepared to consider making an offer for the entire issued share capital of Optare. Following discussions between Noble Grossart Limited and the Takeover Panel, the Panel Executive has ruled that, unless the Panel Executive rules otherwise, ADL must, by 5.00 pm on 25 January 2012, either announce a firm intention to make an offer for Optare under Rule 2.5 of the Code or announce that it does not intend to make an offer for Optare. In the event that ADL announces that it does not intend to make an offer for Optare, ADL and any person(s) acting in concert with it will, except with the consent of the Panel Executive, be bound by the restrictions contained in Rule 2.8 of the code for six months from the date of such announcement. This announcement does not amount to a firm intention to make an offer and, accordingly, there can be no certainty that any offer will be made. Any offer would be in cash.

[OPE] http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11068179

[OPE] No offer will be forthcoming but On Going Developments Torotrak is the group leader in the £1Mns mechanics for the new Flybus partnered with Ricardo in an engineering project to developing Ricardo's Kinergy flywheel. I am confident all partners will be together to the end! Torotrak's CVT will be installed and will be incorporated in OPE's bus. My opinion is too much is at stake for it to fail...

[OPE] Reshaped Board. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11146208

[OPE] http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11248715

[OPE] Wins a contract valued at £3.3 million to supply Stagecoach Group plc [SGC] with a mix of 33 Solo's and Versa's for delivery in 2013. Chris Wise, Commercial Director, commenting on the order said, "This repeat order results from the good reliability, fuel efficiency, and both driver and passenger acceptance of this and its predecessor model in a variety of demanding operating conditions. The Cummins-Voith driveline is new to Optare and is being fitted at the specific request of Stagecoach. It further demonstrates our ability to meet a wide range of specific customer requirements in terms of vehicle drivelines, whether it's, alternative fuels, hybrid, full electric or conventional diesel".

[OPE. Is pleased to announce that it has received an order from Nottingham City Council to purchase 20 electric buses, for a total value of more than £4 million. The purchase further enhances Optare's position as one of Europe's leading manufacturers of full-size, commercially viable battery-powered electric buses. This contract sees one of the largest orders for electric buses placed in the UK and allows Nottingham City Council to take the lead in the introduction of this advanced technology, enabling a quieter, smoother and emissions-free travelling experience for passengers, with what is thought will be the largest EV bus fleet in Europe.

[OPE] Partnership with Dawsonrentals bus and coach limited ("Dawson's"). Pursuant to the agreement Dawson's have placed an initial order for 50 [OPE]'s Solo buses for delivery over the next six months. The agreement gives Dawson's access to Ashok Leyland's international sales force to facilitate the disposal of its used vehicles in right hand drive markets outside of the UK and, in return, purchase new replacement vehicles for its rental fleet from [OPE]. Glenn Saint, Deputy CEO said, "This groundbreaking reciprocal collaboration will enable Dawson's, through the purchase of [OPE]'s buses, to replace its rental fleet with new, improved and more fuel efficient vehicles. The Agreement benefits Dawson's by creating an outlet for its used vehicles in countries where the initial purchase price may be an obstacle to the acquisition of brand new buses. It will also reduce the excess of ageing vehicles in the UK market."

[OPE] following extensive trials of Optare's 11.7 metre low-weight Versa and having had a good experience using Optare's Solo model for many years, Go North East has ordered 26 new vehicles from the Company. Optare is to supply 14 Versa and 12 Solo SR vehicles for use on services in Tyne & Wear and County Durham in an investment of £3.5million by the North East's largest bus operator. Versa deliveries will commence in October 2013 with the Solos to follow in November 2013.

[OPE] http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11811026

[OPE] Optare notes the press release made by FirstGroup plc ("FirstGroup") today and confirms that it is in receipt of a purchase order for 6 electrical buses at a value of £1.5 million. Optare also announces that it is in continuing discussion with FirstGroup regarding an order for a further 15 buses although there can be no guarantee that these discussions will result in a purchase order. Optare will make a further announcement as appropriate.

[OPE] has received an order for a total of 17 Solo electric buses at a value of £3.6 millionfrom Nottingham city Council. The order was partially funded by round 4 of the Government's Green Bus fund. Delivery of the vehicles will commence in July 2014.

[OPE] has received an order for a total of 13 Versa hybrid buses and 3 Versa electric buses at a total value of £3.5 million from Transport for Greater Manchester. The order was partially funded by round 4 of the Government's Green Bus fund. The vehicles are expected to be delivered in July. The three Versa electric buses will be the first fully electric low-entry buses to operate in Manchester.

[OPE] Mr. T. Venkataraman has been appointed to the Board as a Non-Executive Director with immediate effect. Mr. Venkataraman Thyagarajan, 54, is an Indian citizen and is currently the Head of Global Bus Business of Ashok Leyland Ltd, Optare's parent company. Mr. Venkataraman is a Mechanical Engineer and holds a Master's Degree in Industrial Management. Mr. Venkataraman has 33 years' experience in the automotive industry and started his career in 1981 with various organizations such as Suhail Bahwan & Saud Bahwan Group, Amalgamations Group, McNeil & Magon and Enfield Motors. Mr. Venkataraman was a Professor at NITIE, Mumbai for three years and has four publications to his credit. Mr. Venkataraman joined Ashok Leyland Ltd in April 2010 and is responsible for the Global Bus Business. He is a Director of the Ashok Leyland (UAE) LLC and Irizar TVS Ltd. Welcoming Mr. Venkataraman, Mr. John Fickling the Chairman said, "We are delighted to welcome Thyagarajan to the Board. He brings a wealth of experience and will be a great asset to the Company." Save as disclosed above there are no additional disclosures to be made in accordance with paragraph (g) of Schedule 2 of the AIM rules in relation to Mr. Venkataraman.

[OPE] he Company is pleased to announce that [OPE] has received an order to the value of £7.3 million from Stagecoach UK Bus ("Stagecoach"). It is expected that deliveries of new Euro 6 [OPE] Solos of varying specifications to Stagecoach will be completed by the end of 2015. This order is in addition to 5 fully electric vehicles to be delivered this month. Enrico Vassallo, CEO, [OPE], said, "We are delighted to be supplying more Optare vehicles to Stagecoach. In line with the Stagecoach greener, smarter, travel strategy these Solos will be the first Euro 6 vehicles [OPE] have supplied to Stagecoach."