Yak Communications Inc.

Yak Communications Inc.

November 03, 2005 16:45 ET

Yak Communications Retains Ernst & Young LLP for Auditing Services

MIAMI, FLORIDA and TORONTO, ONTARIO--(CCNMatthews - Nov. 3, 2005) - Yak Communications Inc. (NASDAQ:YAKC), a provider of telecommunication services to residential and business customers, announced today that the Audit Committee of its Board of Directors agreed to engage Ernst & Young LLP as the Company's new independent auditors effective October 28, 2005. Ernst & Young replaces Horwath Orenstein LLP.

Ernst & Young is recognized as an industry leader in providing accounting services to companies in the telecommunications and technology sectors. The decision to change auditors was not the result of any disagreement between the Company and Horwath Orenstein on any matter of accounting principles, practices, financial disclosure, or auditing procedure.

The Company has filed with the Securities and Exchange Commission a Current Report on Form 8-K with regard to this change of its independent auditors.

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 voice services (VoIP) to residential and small businesses in North America over high speed internet access. Yak currently serves approximately 905,000 customers for its traditional telecom services. For more information, visit http://www.yak.com.

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, our ability to satisfactorily address any material weaknesses in our internal financial controls, our success in integrating the operations of any newly-acquired businesses, and associated reduction in costs, the successful implementation of our 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 our services, the successful deployment of new equipment and realization of material savings there from, competition from larger and/or more experienced telecommunications providers, our ability to continue to develop our markets, general economic conditions, changes in governmental regulation, and other factors that may be more fully described in our literature and periodic filings with the Securities and Exchange Commission. You are urged to carefully review and consider these disclosures, which describe certain factors that affect our business.

Contact Information

  • Yak Communications Inc.
    Larry Turel
    Investor Relations
    +1 305-933-8322 ext 105
    The Global Consulting Group
    Kathy Price
    Investor Relations
    +1 646-284-9430