TransAKT Corp.
OTC Bulletin Board : TKTJF

TransAKT Corp.

June 02, 2006 18:48 ET

TransAKT Completes Private Placement and Elects New Board Members

CALGARY, ALBERTA--(CCNMatthews - June 2, 2006) - TransAKT Corp ("TransAKT" or the "Company") (OTC BULLETIN BOARD:TKTJF) is pleased to announce that the Company has completed a private placement of 7,000,000 common shares at US$0.05 per share.

In addition the Company is also pleased to announce that Mr. James Wu, an incumbent director, has been appointed President, and that Ms. Rong Fitzgibbons has been appointed as Chief Financial Officer.

Mr. James Wu has been the President of IP Mental Inc., a subsidiary of TransAKT, from 1997 to present.

Ms. Rong Fitzgibbons has been a Certified Public Accountant since 1994, and is a Member of America Institute of CPAs and a Member of California Society of CPAs. Since 1999 Ms. Fitzgibbons has worked at Antelope Valley Hospital in Lancaster, California and is currently Senior Budget/Financial Analyst.

The Company is also pleased to announce that Messrs. Lionel Ni, Ming-Huang Tseng and Mark Fletcher have been appointed to the board.

Mr. Lionel Ni has been the head of the Computer Science Department at Hong Kong University of Science and Technology since 2002 and prior thereto a professor in Computer Science and Engineering at Michigan State University.

Mr. Ming-Huang Tseng is the founder and CEO of CeraMicro Technology Corp., and prior to that was the Vice General Manager, International Strategy Investment, of the Wise Group, Inc.

Mr. Mark Fletcher has been a member of the Law Society of Alberta since 1988 and an associate at Thackray Burgess since 2001. Prior to that he was President of RadioCompass Corp. Mr. Fletcher will assume the role of Corporate Secretary in place of Daniel Horner.

Departing from the Board and as officers of the Company and its subsidiaries effective immediately are Messrs. Gordon Miller, Daniel Pomerleau, Roland Williams and Riaz Sumar, although Mr. Riaz Sumar has agreed to re-join the Company as interim CFO.

Departing President Daniel Pomerleau stated, "The small private placement and addition of new members to the Board will bring new energy to the Company as it moves forward into the Asian markets. The new members have significant experience in the Asian marketplace, specifically China, and their knowledge of the industry and contact base will greatly benefit the shareholders of the Company. I would like to thank all the departing members for their tireless efforts and wish them and the new board members great success in the future."

About TransAKT™ Corp. (www.transaktcorp.com)

TransAKT Corporation is a global Voice over Internet Protocol ("VoIP") hardware and network provider for commercial and residential users. Its proprietary U&Me network already handles more than 25,000 calls daily with over 40,000 subscribers and provides users with telecom grade voice quality. The Company's global corporate management team is based in Taipei; additionally there are numerous branches and representative offices in Europe, America, Asia-Pacific and Australia. TransAKT™ Corp. is additionally a developer of mobile solutions and a leading developer of secure wireless electronic payment and communication solutions that add value at the point of sale for consumers, merchants and acquirers alike.

This release contains "forward looking statements" as per Section 21E of the US Securities and Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Management is currently reviewing many options and there is no assurance that they will not make decisions other than those now contemplated. The Company is subject to operational risks identified in documents filed with the Securities and Exchange Commission.


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