TayCon Capital Corporation Announces Resignation of Paul G. Smith

TORONTO, ONTARIO (TSX VENTURE: TYC.P) announced today that Paul G. Smith resigned as both Chief Financial Officer ("CFO") and as a director of TayCon effective March 5, 2008. TayCon's President and Chief Executive Officer, Morgan Cowl, will assume CFO responsibilities until a suitable replacement for Mr. Smith is appointed. The Corporation will commence a search for a replacement CFO and a new director in due course.

Morgan Cowl commented "Paul has made a significant contribution to TayCon's vision, development and growth and we thank him for his efforts as both CFO and as a director. Paul remains a seed shareholder of TayCon and we are certain we will continue to benefit from his ongoing interest and advice. In addition, Paul has agreed to assist us in our search for, and transition to, a new CFO. The Board of Directors is confident that the changes announced today will not materially affect TayCon's progress toward its Qualifying Transaction."

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

Contacts: TayCon Capital Corporation Morgan Cowl President, CEO and Director (416) 704-0660

Taycon Capital (Tier2) (TSXV:TYC.P)
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