TAX.L Regulatory News (TAX)

26 November 2013

Eco City Vehicles PLC

("ECV" or "the Group")

Acquisition of major interest by institutional investor

Director Dealing

Eco City Vehicles PLC, the co-developer and supplier of the London licensed Mercedes Vito taxi, is pleased to announce that a blue chip institutional investor has made a major investment in ECV with the acquisition of a 15.98 per cent holding.

The stake was acquired on 25 November at a price of 1.584p per share from Peter DaCosta, Keith Marder and Michael Troullis ("the vendors"). As a result of these transactions the combined shareholding of the vendors has reduced to 34.7 per cent from 50.7 per cent.

Mr DaCosta, a non-executive director of the Group, sold 25,000,000 shares, reducing his holding to 53,887,856 shares, representing 11.5 per cent of the current issued share capital of the Group.

Mr Marder and Mr Troullis also sold 25,000,000 shares each, reducing their holdings to 53,807,532 shares and 55,001,600 shares respectively, representing 11.5 per cent and 11.7 per cent, respectively, of the current issued share capital of the Group.

These transactions have been made in compliance with the orderly marketing obligations announced at the time of ECV's placing on 7 September 2012.

Enquiries: