SOURCE: RedChip Companies, Inc.

May 11, 2006 11:32 ET

RedChip Independent Issues Analyst Update on Yak Communications: Maintains $5.00 Price Target

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by RedChip Companies.

ORLANDO, FL -- (MARKET WIRE) -- May 11, 2006 -- RedChip Independent, a division of RedChip Companies, has issued an analyst update on Yak Communications (NASDAQ: YAKC).

RedChip initiated coverage of Yak Communications on February 28, 2006, with a Speculative Buy rating and a price target of $5.00. RedChip Senior Analyst Lisa Springer has upgraded the rating to Buy and maintains the price target for the Company, based on recently restated financial results for fiscal year ended June 30, 2005.

Yak is a leading provider of dial-around long distance services to the Canadian market, who has begun to aggressively market dial-around services in the $3 billion US market. Recently, Yak launched a VoIP (voice over internet protocol) product line. Yak attracts customers with free software downloads for basic VoIP service as part of its yakForFree™ plan.

To receive a complimentary copy of the RedChip Independent Update for YAKC, please visit http://www.redchip.com/subscriber.asp?page=requestyakcnotes.

About RedChip Independent™

RedChip Independent Research, a division of RedChip Companies Inc., writes fundamental research on small-cap companies. RedChip's success has been documented in Forbes, Barron's and the Wall Street Journal. Dedicated to "discovering tomorrow's blue chips today™," RedChip's analysts seek out undiscovered, emerging growth companies. For more information, visit www.redchip.com/independent.asp.

All material herein was prepared by RedChip Companies Inc. based upon information believed to be reliable. The information is not guaranteed by RedChip Companies Inc. to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. RedChip Companies Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker or investment professional before purchasing or selling any securities mentioned herein.

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