Meade is Considering Tender Offer

Meade is Considering Tender Offer

IRVINE, Calif., June 24, 2013 (GLOBE NEWSWIRE) -- Meade Instruments Corp.
(Nasdaq:MEAD) ("Meade" or the "Company"), a designer and manufacturer of
telescopes and accessories for amateur astronomers, today confirmed that
VictoryOne, Inc. ("Victory One"), a Delaware corporation and a wholly-owned
subsidiary of MIT Capital Inc., a California corporation, has commenced a cash
tender offer to acquire all of outstanding shares of common stock, par value
$0.01 per share ("Shares"), of Meade, for $3.65 per Share.

The tender offer is under consideration by the members of the Board of
Directors of Meade (the "Board"). The Board is consulting with its legal and
financial advisors to assist it in its consideration and evaluation of the
tender offer.

On or before July 8, 2013 (the tenth business day from commencement of the
offer as required by the tender offer rules), Meade intends to file with the
United States Securities and Exchange Commission a solicitation/recommendation
statement on Schedule 14D-9 stating whether the Board recommends acceptance or
rejection of the tender offer, expresses no opinion and remains neutral toward
the tender offer, or is unable to take a position with respect to the tender
offer, as well as setting forth the Board's reasons than as for its position
with respect to the tender offer. Accordingly, Meade stockholders are urged to
defer making any determination whether to accept or reject such tender offer
until they have been advised of the Board's position with respect to the
tender offer.

CONTACT: John Elwood, CFO
         27 Hubble
         Irvine, CA 92618
         Phone: (949) 451-1450
         Fax: (949) 451-1460

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