Phonetime Inc.

Phonetime Inc.

March 04, 2005 14:41 ET

Phonetime Inc.: Investor Relations Update


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: PHONETIME INC.

TSX VENTURE SYMBOL: PHD

MARCH 4, 2005 - 14:41 ET

Phonetime Inc.: Investor Relations Update

MISSISSAUGA, ONTARIO--(CCNMatthews - March 4, 2005) - Phonetime Inc.
(TSX VENTURE:PHD), a leading Canadian supplier of long distance phone
cards and services, announced that effective today Mr. Richard Mellon
will no longer be providing investor relations and other consulting
services to the Company. Mr. Mellon had been serving as a consultant to
the Company since 1998, and assisted the Company in preparing press
releases and communicating with shareholders and other market
participants. In consideration of his services rendered to the Company,
Mr. Mellon was on a monthly retainer of $1,000 and had received 200,000
stock options which expired on January 18, 2005. Management will review
the Company's investor relations requirements with a view to engaging a
replacement consultant in due course.

ABOUT PHONETIME

Focused on telecommunications, Phonetime has built one of Canada's
largest private long-distance networks into 24 major urban areas with
plans for more cities being added. Phonetime operates a multilingual
call center and sells its own branded pre-paid cards, Nuvo, Bravo,
ChitChat, Eureka and Call Value. The Company also provides phone cards
to over 3,000 retail outlets, including Real Canadian Superstores and
Business Depot/Staples. Licensed as a Class A, International Carrier by
the CRTC, the company currently has offices in Toronto, Vancouver, and
Montreal.

Additional information about Phonetime and its products and services is
available through the Company's web site at www.phonetime.com.

Note: This news release may contain forward-looking information. Actual
future results may differ materially. All figures are in Canadian
dollars. The risks, uncertainties, and other factors that could
influence actual results are described in the company's annual report to
shareholders.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Phonetime Inc.
    Wayne Silver
    President
    905 629 2606 ext 304
    wayne@phonetime.com
    www.phonetime.com
    The TSX Venture Exchange has not approved nor disapproved the
    information contained herein.