Tactical Air Defense Services Retires 6.4 Million Shares of Series A Preferred Stock


WEST PALM BEACH, Fla., May 5, 2009 (GLOBE NEWSWIRE) -- Tactical Air Defense Services, Inc. (OTCBB:TADF), a military defense contractor which offers air combat training, ground-threat support, mid-air refueling, aerial fire-fighting, and specialty aerial services to the U.S. and foreign militaries and other federal and state agencies, is pleased to announce that it has retired 6.4 million shares of its Series A Preferred Stock.

The 6,400,000 shares of Series A Preferred Stock that have been retired encompassed the entire outstanding issuance of Series A Preferred Stock, and there are currently no outstanding shares of Series A Preferred Stock.

The cancellation of the Series A Preferred Stock comes as a result of an Agreement and Mutual General Release, entered into between the Company and 2 former shareholders, in which the shareholders agreed to retire the Series A Preferred Stock, waive payment of all accrued dividends, waive rights to any future dividends, and relinquish any rights to future distributions issued in connection with the shares, in consideration for an aggregate of 20 million shares of Common stock of the Company.

Mark Daniels, CEO of Tactical Air Defense Services, Inc., states, "The Company has been taking proactive steps to build shareholder value, and we believe that the retirement of the 6.4 million shares of Series A Preferred Stock is an important step in that direction in light of the 25 - 1 voting rights and the dividend associated with the Series A Preferred Stock."

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.



            

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