For some reason, this has not hit the main news sites yet. The web link below will not say anything about tabs, nor will the installer, but once you are done installing it and open IE you will have tabs. If you have MSN Desktop Search, you must install that first. The installer says toolbar, but it also includes the Desktop Search.
I just installed it and have not tried the tabs yet, I thought it was more important to post here first. Off to play with the tabbed browsing.