SOURCE: CYBERSURF CORP.

December 15, 2006 22:13 ET

Cybersurf Corp. Holds Annual and Special Meeting of Shareholders

CALGARY, AB -- (MARKET WIRE) -- December 15, 2006 -- Cybersurf Corp. ("Cybersurf" or the "Company") (TSX-V: CY), one of Canada's leading independent Internet technology and service companies, held its annual and special meeting of shareholders today. At the meeting, Deloitte & Touche LLP were re-appointed as the Company's auditors to hold office until the next annual meeting of shareholders. R. James Milliken, Jay M. Roberge and Paul Mercia were reappointed as the Company's directors to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed.

Additional resolutions were also passed:

* terminating the Corporation's stock option plan in effect on June 30, 2006 and approving and adopting a new stock option plan in the form annexed to the Management Information Circular ("Circular") for the meeting;

* authorizing and ratifying a Shareholder Rights Plan Agreement ("Agreement") in the form annexed to the Circular and ratifying the Corporation's Shareholder Rights Plan created by that Agreement; and

* confirming the repeal of all by-laws of the Corporation in effect on June 30, 2006 and adopting a new by-law to govern the transaction of business and affairs of the Corporation in the form annexed to the Circular

At a meeting held subsequent to the annual meeting of shareholders, the Company's Board of Directors made the following appointments relating to the Board and its committees:

Chairman of the Board - Jay M. Roberge

Composition of Audit Committee - R. James Milliken, Jay M. Roberge and Paul
Mercia
Chair of Audit Committee - R. James Milliken

Composition of Personnel Committee - Jay M. Roberge and R. James Milliken
Chair of Personnel Committee - Jay M. Roberge

Composition of Litigation Committee (Telus Lawsuit) - R. James Milliken,
Jay M. Roberge and Paul Mercia

Chair of Litigation Committee (Telus Lawsuit) - R. James Milliken

About Cybersurf Corp.

Cybersurf is an independent Internet and communications company providing consumers with a value-driven alternative to large incumbent carriers. Cybersurf prides itself on providing the highest possible quality of services at the lowest possible prices and is one of Canada's largest independent Internet service providers.

Cybersurf believes consumers want 'The Freedom of Choice' that comes with having a truly independent provider as an alternative to larger incumbent telephone companies or cable carriers -- a choice that allows users to connect to the Internet how they want and with an independent provider that focuses on the needs of today's average user by providing quality service at the best possible price. Cybersurf is that choice.

For more information about Cybersurf, please visit www.cybersurf.com or www.cia.com, contact Paul Mercia, President and CEO at (403) 777-2222, ext. 262 or email investor.relations@cybersurf.com.

Cybersurf's common shares trade on the TSX Venture Exchange under the trading symbol "CY."

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

This news release may contain certain forward-looking statements. All statements, other than statements of historical fact, included herein, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and Cybersurf does not undertake an obligation to update forward-looking statements should conditions or management's estimates or opinions change.

Contact Information

  • Contact:
    Paul Mercia
    President and CEO
    (403) 777-2222, ext. 262
    Email Contact

    Cybersurf Corp.
    300, 1144 - 29 Avenue NE
    Calgary, AB T2E 7P1
    Ph: 403.777.2000
    Fax: 403.777.2003