Columbus Acquisition Corp. Announces Date of May 14, 2009 for Stockholder Vote on Proposed Amendments to Its Certificate of Incorporation

NEW YORK--(Business Wire)--
Columbus Acquisition Corp. ("Columbus") (NYSE Amex: BUS, BUS-U, BUS-WT)
announced today that its special meeting of stockholders will be held on May 14,
2009 at 12:00 p.m., Eastern Time, at the offices of Skadden, Arps, Slate,
Meagher & Flom LLP, Four Times Square, 38th Floor, New York, NY 10036. At the
special meeting, stockholders of Columbus will be asked to vote on, among other
proposals, the proposed amendments to its certificate of incorporation (the
"Extension Amendment"), to extend the date by which it must complete a business
combination before it is required to be liquidated and grant conversion rights
to holders of its public common stock in connection with such vote to approve
the Extension Amendment.

In addition, Columbus today announced that it has filed its definitive proxy
statement with the Securities and Exchange Commission ("SEC") and will soon
commence mailing proxy materials to its shareholders in connection with the
special meeting. As previously announced, stockholders of record as of the close
of business on April 20, 2009 will be entitled to vote at the special meeting.

About Columbus Acquisition Corp.

Columbus Acquisition Corp. is a blank check company organized under the laws of
the State of Delaware on August 1, 2006. Columbus was formed to acquire, through
a merger, capital stock exchange, asset or stock acquisition, exchangeable share
transaction or other similar business combination, one or more operating
businesses that it believes has significant growth potential. Columbus' initial
public offering was declared effective May 18, 2007 and was consummated on May
21, 2007, resulting in net proceeds of approximately $109.8 million through the
sale of 14.375 million units at $8.00 per unit. Each unit was comprised of one
share of Columbus common stock and one warrant with an exercise price of $6.00.
As of December 31, 2008, Columbus held $115.1 million in a trust account
maintained by an independent trustee, which will be released upon consummation
of the business combination. Additional information is available at
www.columbusacquisition.com.

About Integrated Drilling Equipment Company

Based in Houston, TX and serving the international drilling market, Integrated
Drilling Equipment Company is a leading land-based rig refurbishment operation
and a vertically-integrated rig manufacturer. IDE benefits from compelling macro
trends in the energy infrastructure sector including sustainable, long-term
global demand for energy, increasing challenges to uncovering new oil reserves,
and an aging rig fleet that is propelling demand for new rigs and rig
refurbishment services. IDE serves a global customer base, with international
contracts comprising approximately 85% of its 2008 sales.

This communication shall not constitute an offer to sell or a solicitation of an
offer to buy any securities. This communication may be deemed to be solicitation
material in respect of the proposed Extension Amendments.

Columbus has filed with the SEC a preliminary proxy statement, as amended, in
connection with the proposed Extension Amendments and intends to file and mail
to Columbus stockholders a definitive proxy statement and other relevant
materials. Stockholders of Columbus and other interested persons are advised to
read Columbus' preliminary proxy statement and, when available, definitive proxy
statement in connection with the solicitation of proxies for the special meeting
of Columbus stockholders to be held to approve the Extension Amendments because
these statements contain, or will contain once available, important information
about Columbus and the proposed Extension Amendments. The definitive proxy
statement will be mailed to stockholders of record as of April 20, 2009.
Stockholders will also be able to obtain a copy of the preliminary and
definitive proxy statements, without charge, once available, at the SEC's
internet site at http://www.sec.gov or by directing a request to: Columbus
Acquisition Corp., 153 East 53rd Street, 58th Floor, New York, NY 10022.

Columbus and its directors and officers may be deemed participants in the
solicitation of proxies from Columbus stockholders. A list of the names of those
directors and officers and descriptions of their interests in Columbus is
contained in Columbus' preliminary proxy statement, as amended, which was filed
with the SEC as of March 30, 2009, and will also be contained in Columbus'
definitive proxy statement when it becomes available. Columbus' stockholders may
obtain additional information about the interests of its directors and officers
in the proposed Extension Amendments by reading Columbus' definitive proxy
statement when it becomes available.

Columbus Acquisition Corp.
Michael W. Ernestus, 212-408-0569
President
info@columbusacquisition.com
or
Investor Relations:
The Equity Group Inc.
Devin Sullivan, 212-836-9608
Senior Vice President
dsullivan@equityny.com
or
Melissa Dixon, 212-836-9613
Senior Account Executive
mdixon@equityny.com

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