ZENN Motor Company Inc.

ZENN Motor Company Inc.

February 23, 2012 12:00 ET

ZENN Motor Company Announces Appointment and Filing Date Change

TORONTO, ONTARIO--(Marketwire - Feb. 23, 2012) - ZENN Motor Company Inc. (TSX VENTURE:ZNN) (the "Company") is pleased to announce the appointment of Ms. Natasha Vandesluis as Chief Financial Officer. Ms. Vandesluis has held the position on an interim basis since September 1, 2011. Ms. Vandesluis has been active in guiding the Company through the recent restructuring of its business.

Transition to new accounting standards

The Company is currently in the process of transitioning its financial reporting methods from Canadian Generally Accepted Accounting Principles (GAAP) to the International Financial Reporting Standards (IFRS) which came into effect January 1, 2011. To assist companies with the transition to the new standards, the deadline for filing the first quarterly interim financials under IFRS has been extended by 30 days. In accordance with the transition rule, the Company's first quarter results will be released no later than March 30, 2012. All subsequent filing due dates for the Company remain unchanged.

About ZENN Motor Company Inc.

The Company's goal is to be the provider of leading edge power storage solutions and related technologies to the automotive industry.

Technologies and solutions, powered by EEStor's electrical energy storage units (EESU) have the potential to enable OEM and Tier 1 partners to deliver advanced electric transportation solutions to their customers. The Company's Technology Agreement with EEStor provides certain exclusive and non- exclusive rights to purchase and deploy EEStor's EESU technology, which rights are detailed in the Company's AIF.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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