Yak Communications Inc.

Yak Communications Inc.

July 05, 2005 09:30 ET

Yak Communications Joins Newly Formed Russell Microcap Index

MIAMI, FLORIDA and TORONTO, ONTARIO--(CCNMatthews - July 5, 2005) - Yak Communications Inc. (NASDAQ:YAKC), a provider of telecommunication services to residential and business customers, announced today that it joined the new Russell Microcap™ Index when the Russell Investment Group reconstituted its family of U.S. indexes on June 24. The Russell recently posted a membership list for the Russell Microcap at www.russell.com/US/Indexes and has gone into effect on July 1 and will remain in effect for one year.

Yak's Chairman and Chief Executive Officer, Charles Zwebner, stated, "Yak's admission to membership in the Russell Microcap Index is testimony to the Company's progress as our business continues to grow in terms of revenues and customers. We have successfully focused our business on our core strengths and are reaping the benefits of being a leading service provider to residential and enterprise customers in specific niche markets. We look forward to building upon this progress."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $2.5 trillion in assets currently are benchmarked to these indexes.

About Yak Communications Inc.

Yak Communications Inc. (the "Company") (NASDAQ:YAKC) is an Integrated Communications Provider (ICP) offering a full array of long distance (1+, toll free and dial-around), local lines, travel cards, cellular long distance, data services, and broadband voice (VoIP) to residential and small businesses in North America over high speed internet access. Yak currently serves approximately 860,000 customers for its traditional telecom services. For more information, visit www.yak.com.

About Russell

Russell, a global leader in multi-manager investment services, provides investment products and services in more than 39 countries. Russell manages more than $135 billion in assets and advises clients worldwide representing $2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Washington, with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.

Forward Looking Statements

Statements contained in this news release, which are not strictly historical, are forward looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. The Company makes these statements based on information available to it as of the date of this news release and assumes no responsibility to update or revise such forward-looking statements.

Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may cause the Company's actual results to differ materially from such forward-looking statements.

Words such as "projects", "believe", "anticipates", "estimate", "plans", "expect", "intends", and similar words and expressions are intended to identify forward-looking statements and are based on our current expectations, assumptions, and estimates about us and our industry. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Although the Company believes that such forward-looking statements are reasonable, we cannot assure you that such expectations will prove to be correct. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of several factors, risks and uncertainties. These factors, risks and uncertainties include, without limitation, the Company's success in integrating the operations of its newly-acquired businesses, and associated reduction in costs, the successful implementation of its business plans including growth of existing product offerings, strategic acquisitions and development of broadband telephony products, the successful integration of new management team members, continued and increased demand for its services, the successful deployment of new equipment and realization of material savings there from, competition from larger and/or more experienced telecommunications providers, its ability to continue to develop its markets, general economic conditions, changes in governmental regulation, and other factors that may be more fully described in the Company's literature and periodic filings with the Securities and Exchange Commission. You are urged to carefully review and consider these disclosures which describe certain factors and/or which affect our business.

Contact Information

  • Yak Communications, Inc.
    Larry Turel
    Investor Relations
    1-305-933-8322 ext 105
    The Anne McBride Company, Inc.
    Kathy Price
    Investor Relations
    1-212-983-1702, x212