Azure Dynamics Corp. (AZDDQ)

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Pennsylvania Department of Trasportation

OAK PARK, MI, June 23 /CNW/ - Azure Dynamics Corporation (TSX: AZD, LSE:
ADC & OTCQX: AZDDF) - ("Azure" or the "Company"), a leading developer of
hybrid electric and electric powertrains for commercial vehicles, announced
today it has received an order from the Pennsylvania Department of
Transportation ("PennDOT") for 10 hybrid buses with an option for 15
additional buses at a later date. PennDOT has ordered the eighteen passenger
Azure/StarTrans Hybrid Para-transit Citibus for delivery in 2008.
http://www.reuters.com/article/pressRelease/idUS154958+23-Jun-2008+PRN20080623

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First Quarter 2008 Highlights

As of March 31, 2008 Azure had completed the assembly of 54 of a 59 unit Series hybrid cab chassis production run at Production Concepts, Inc. The hybrid cab chassis' will be completed into shuttle buses in the coming quarters to meet customer sales demand....
Reorganization costs incurred by the Company relate primarily to changes in management as the Company completes its transition from development stage to a commercial enterprise.

Three demonstration vans were placed in service with previously announced lead customers including FedEx (November 2007), Purolator and a leading North American courier fleet.

As of March 31, 2008, the Company's net cash and cash equivalents totaled $13.7 million, and working capital totaled $25.1 million, compared to cash and cash equivalents of $20.6 million, and working capital of $26.1 million, as at March 31, 2007, and cash and cash equivalents of $24.1 million, and working capital of $32.3 million, as at December 31, 2007.


http://www.infibeam.com/blog/news/2008/05/13/azure_dynamics_posts_sales_results_for_q1_2008.html

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May 13th 2008 Analyst initiation

Merriman started Azure Dynamics (OTC: AZDDF) with a Buy rating. The firm believes the company's focus is where customers see the most benefit from a medium-duty hybrid or market-appropriate solutions and finds the stock attractively valued.

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198 million shares September 2007

Completed equity financing subsequent to the quarter end for
$30.0 million in gross proceeds.

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Auto News from August 14, 2007

"Since introducing Azure's hybrid-electric vehicles ("HEV") to our fleet of curb-side delivery vehicles in 2005, we have logged more than 333,000 kilometres, saving almost 60,000 litres of fuel and preventing the emission of over 150 tonnes of greenhouse gas emissions," said Robert Johnson, President and CEO of Purolator...
Under terms of the initial purchase order (dated September 15, 2005), Azure supplied 19 HEVs to Purolator. Under terms of an amendment to the initial purchase order (dated August 3, 2006), Azure was to supply an additional 115 HEVs to Purolator. To date, 30 of these additional HEVs have been delivered to Purolator and are currently in service. Under terms of the amended purchase order (dated August 14, 2007), Azure will supply the remaining 85 HEVs to Purolator on its new parallel hybrid-electric Ford E-450 platform. Further, Purolator has increased the order to include an additional 20 HEVs for a total of 105 HEVs on the Ford E-450 platform. Azure expects to deliver all 105 Ford E-450 HEVs in the third and fourth quarters of 2008.

http://www.motortrend.com/features/newswire/30606/index.html

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June 1, 2004 Azure has 83,903,918 common shares

Listed on Toronto exchange

Purolator
Ford
FedEx

Purolator has added more vehicles as of 2006