Ultima Networks plc

("Ultima" or the "Company")

Infineum Continental Electric Bicycle

 Launch of Infineum Continental - €390,000 of new orders for Green Technology Products Division

The successful launch by UTN (The Green Technology Products division of Ultima) of its new Infineum Continental model has resulted in demand exceeding management's expectations. The model has been specially designed to appeal to cyclists in the BENELUX region and is the first of a range of models aimed at this key market sector.

€390,000 of new orders have been received bringing total orders for the new model to €520,000 with the Board remaining confident that volumes will reach the divisions target of 2,500 units during calendar year 2011. The bicycle is being marketed by the division's Dutch distributor, EQ-Bikes.

Wazz Mughal, Managing Director of UTN, said

 "We are very excited with the prospects for rapid growth afforded by the launch of the Infineum Continental model and expect momentum to continue with the release of new models widening the range and bringing the prospect of a substantial increase in sales and market share throughout continental Europe"

Enquires:

Ultima Networks plc 01279 821200

Prof. Humayun Mughal

 

Allenby Capital Limited (nominated adviser and broker) 0203 328 5656

Nick Naylor

Nick Athanas

Alex Price