Ultrafit Mini Bike; Will it help?

Mayy_1

Hi everyone!
I was thinking about buying the Ultrafit Mini Bike from amazon because it is cheap and is also small which is convenient for me as I don't have too much extra space in my house. I was thinking I can use this when I'm sitting watching tv or something like that and it would be an alternative to an exercise bike but i'm not too sure. I could also use as a hand peddler too.
Will this burn as many calories as an exercise bike would or around the same amount of calories and how effective is it?
Does anyone know? Please reply asap.

Link to the ultrafit mini bike: http://www.amazon.co.uk/Ultrafit-SUAL01-Mini-Bike/dp/B002U0KB7U/ref=sr_1_3?s=sports&ie=UTF8&qid=1354407211&sr=1-3

Info about me: I am 18 years old 5ft.5 inches and i weight around 9 stones. I'm not over weight, i'm just looking to burn to burn all the fat around my stomach and hips (I have really big love handles and a fat stomach) and a bit on my legs and some on my arms (bingo wings) and also just a bit of body fat all over. If I use this every day for atleast an hour how long till i see a change?
Thankss