SOURCE: TAC Acquisition Corp.

December 07, 2006 15:40 ET

TAC Acquisition Corp. Announces Meeting Date for Special Meeting of Stockholders and Mailing of Definitive Proxy Materials

GREENWICH, CT -- (MARKET WIRE) -- December 7, 2006 -- TAC Acquisition Corp. (OTCBB: TACA) (OTCBB: TACAU) (OTCBB: TACAW) announced today that its Board of Directors has set December 29, 2006 as the date of the Special Meeting of Stockholders at which stockholders will vote on, among other proposals, TAC's previously announced proposed acquisition of AVIEL Systems, Inc. of McLean, VA. The meeting will be held at 10:00 am EST at TAC's office. TAC also announced today that it has commenced the mailing of definitive proxy materials to those holders of shares of the Company's common stock at the close of business on the record date, December 1, 2006.

About AVIEL Systems, Inc.

Headquartered in McLean, Virginia, AVIEL Systems, Inc. is a provider of IT and management consulting solutions to the federal government in areas critical to national security, transportation and defense. AVIEL was formed earlier this year to serve as a holding company for OPTIMUS Corporation and Performance Management Consulting, Inc.

About TAC Acquisition Corp.

TAC Acquisition Corp. is a publicly traded company formed for the purpose of acquiring an operating business in the following technology-related sectors: software, IT services, media, telecommunications, semiconductor, hardware, internet and technology-enabled services. Approximately $120 million of net proceeds were raised through TAC's initial public offering in June 2005 (symbols: TACA, TACAU, TACAW).

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events.

The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements:

--  TAC being a development stage company with no operating history;
--  TAC's dependence on key personnel, some of whom may not remain with
    TAC following a business combination;
--  risks that the acquisition of AVIEL or another business combination
    may not be completed due to failure of the conditions to closing being
    satisfied or other factors;
--  TAC personnel allocating their time to other businesses and
    potentially having conflicts of interest with our business;
--  the ownership of TAC's securities being concentrated; and
--  risks associated with the federal services sector in general and the
    defense and homeland security sectors in particular;
    
as well as other relevant risks detailed in TAC's filings with the U.S. Securities and Exchange Commission. The information set forth herein should be read in light of such risks. TAC does not assume any obligation to update the information contained in this press release.

Stockholders of TAC are urged to read the proxy statement regarding its proposed acquisition of AVIEL when it becomes available as it will contain important information regarding AVIEL and the transaction. Copies of the proxy statement and other relevant documents filed by TAC, which will contain information about TAC and AVIEL, will be available when filed and without charge at the U.S. Securities and Exchange Commission's Internet site (http://www.sec.gov). The definitive proxy statement, when available, may also be obtained from TAC without charge by directing a request to TAC Acquisition Corporation, 8 Sound Shore Drive, Suite 255, Greenwich, CT 06830 attn: Dana Serman.

TAC and its directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed acquisition of AVIEL. Information regarding TAC's directors and executive officers is available in its Form 10-K for the year ended December 31, 2005, filed with the U.S. Securities and Exchange Commission. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement to be filed with the U.S. Securities and Exchange Commission when it becomes available.

Contact Information

  • Company Contact:

    Jonathan Cohen
    Chief Executive Officer
    TAC Acquisition Corp.
    (203) 661-2594