SANTA MONICA, Calif., Aug. 10, 2005 (PRIMEZONE) -- Milton C. Ault, III ("Ault"), on behalf of Ault Glazer Bodnar & Company Investment Management LLC ("AGB") and Patient Safety Technologies, Inc. ("PST") (Ault, AGB and PST collectively referred to as the "Shareholders"), announced today that the Shareholders will oppose Management's re-election of Frederick A. Parker, Jr. as a Class III Director to Tuxis Corp. (AMEX:TUX) board of directors at the Company's 2005 annual meeting of shareholders scheduled for September 7, 2005. The Shareholders collectively beneficially own approximately 17.8% of the outstanding shares of the Company and are currently the second largest shareholder in the Company. Ault is the Chief Investment Officer and managing member of AGB and the Chairman and Chief Executive Officer of PST.
"We believe that Mr. Parker does not have the background required to capably govern and enhance the value of TUX," commented Mr. Ault. "It appears Management has emphasized loyalty over skills and experience in its selection of Mr. Parker."
Ault Glazer Bodnar & Company Investment Management, LLC is a Delaware limited liability company that manages the day-to-day operations of and provides investment advisory services on a discretionary basis to individually managed accounts and private investment funds. Ault Glazer Bodnar & Company Investment Management, LLC is registered as an investment adviser under the laws of the State of California. For more information on Ault Glazer Bodnar & Company Investment Management LLC, please contact the company directly at (310) 752-1442.
Patient Safety Technologies, Inc. is a developer, manufacturer and content provider of patient safety products and services, working toward becoming the leader in the patient safety sector. Headquartered in Santa Monica, California, the company's flagship product is its Safety-Sponge System, which helps in reducing the number of retained sponges and towels in patients during surgical procedures and allows for faster and more accurate counting of surgical sponges. For more information on Patient Safety Technologies, Inc., please contact the company directly at (310) 752-1416.