Groupola.com will be offering a number (of the undisclosed variety) of SIM-free iPhone 4s for the knockdown price of £99 on its 2 July launch day, as opposed to it usual price of £499.

According to the group buying site, all you have to do is sign up, making sure you are down to receive Groupola's daily alerts, and then check you email on the 1st for a link to be sent through to you. On receiving this, follow the link at 9.30am on the 2 July and, in the company's words "hope that you get there quick enough to be one of the lucky few to get an iPhone 4 for just £99".

As is the norm with these kinds of promotions the number of handsets available is not disclosed, Mark Pearson, managing director of Groupola.com said:

"This is a closed deal; in that it’s only available to people that receive Groupola.com’s daily deal alerts. We have a limited number of handsets available, so my advice is to open the link the second the clock ticks over at 9.30am – by 9.31am; you may already have been too late".

So judging by the terminology used we'll be lucky if the number of iPhone 4s given away reaches into double figures, but there will be more than one.

If you're not doing anything on the 2 July it might be worth having a punt, and to be fair to Groupola it does offer some decent deals so it could well be worth signing up anyway - even if you don't get in on the iPhone action.

If you do decide to give it a go make sure you let us know how you got on in the comments below.

UPDATE: Groupola has just issued a statement to Pocket-lint:

"Groupola is currently experiencing a number of website issues which means that it appears down to a high number of users. This is because of the sheer volume of people that are trying to access the website to take advantage of the iPhone4 deal. Between 9 and 9.30am this morning more than 5 million people have attempted to log on to the site, far more than was anticipated. We can confirm that a number of people have already bought iPhones for £99. We are working hard to get the site back to its optimum and the iPhone4 deal will continue to run until stocks run out".