Reverse Splits

[Rager]

MYAG - Mercury Air Group, Inc. Announces Consummation of Reverse Stock Split
Wednesday September 13, 3:03 pm ET


LOS ANGELES, Sept. 13 /PRNewswire-FirstCall/ -- Mercury Air Group, Inc. (OTC: MYAG - News; the "Company") announced today that it has filed an Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a 1-for-750,000 reverse split of the Company's common stock (the "Reverse Stock Split"). The record date for the reverse split is Monday, September 25, 2006.


A Special Committee of independent directors ("Special Committee") was constituted to consider and negotiate the terms of a proposed reverse stock split. The Special Committee was advised by Bingham McCutchen LLP, its independent legal counsel, and received a fairness opinion from Imperial Capital LLC, its independent financial advisor. Following a determination by the Special Committee that the Reverse Stock Split was fair to the minority stockholders, the Special Committee and the Board of Directors approved the Reverse Stock Split.

Stockholders owning 750,000 or fewer shares of the Company's common stock prior to 8:00 a.m. (Eastern Daylight Time) on September 25, 2006, will receive cash at a price of $3.70 per share owned by such stockholders prior to the Reverse Stock Split.

Stockholders who are to be cashed out as a result of the Reverse Stock Split will be notified by the Company's transfer agent, American Stock Transfer and Trust Company, and receive instructions regarding the exchange of their stock certificates for cash.

About Mercury Air Group

Los Angeles-based Mercury Air Group (OTC: MYAG - News) provides aviation petroleum products, air cargo services and transportation, and support services for international and domestic commercial airlines, general and government aircraft and specialized contract services for the United States government. Mercury Air Group operates three business segments worldwide: MercFuel, Inc., Maytag Aircraft Corporation and Mercury Air Cargo, Inc. For more information, please visit www.mercuryairgroup.com.

Statements contained in this news release which are not historical facts are forward looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's reports.


Company Contact: Media Relations:
Joseph Czyzyk David Herbst/Melissa Spraul
Mercury Air Group, Inc. The MWW Group
[phone] [phone]




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Source: Mercury Air Group, Inc.