ISE Limited Completes Initial Public Offering

February 23, 2010

On February 23, 2010, ISE Limited (TSX: ISE) completed an initial public offering of 3,450,000 common shares at a price of $6.00 per common share for gross proceeds of $20,700,000. The underwriting syndicate for the offering was co-led by Raymond James Ltd. and RBC Dominion Securities Inc., and included Cormark Securities Inc. and Jacob Securities Inc. In connection with the offering, certain shareholders of ISE Limited have granted the underwriters an over-allotment option, exercisable for a period of 30 days from closing, to purchase up to an additional 517,500 common shares at the offering price of $6.00 per share.

The common shares commenced trading on February 23, 2010 on the Toronto Stock Exchange under the symbol “ISE”.

ISE Limited designs, builds, and supports hybrid-electric drive systems and high value components optimized for high duty cycles. ISE Limited specializes in series hybrid-electric, all-electric/zero emission technologies and offers industry-leading energy management solutions and system components.

Wildeboer Dellelce LP acted for the underwriters with a team that included Derek Sigel, Alexandra Vazquez and Nancy Son-Wilkening (corporate/securities) and Kevin Fritz (tax).

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