Talk Visual Corporation (fka TVCP)

[scu8452]

TVCP owns around 10% of YAKC..This is of interest

YAK Communications Announces Earnings For Recently Completed Fiscal Year 2002 And Stock Begins Trading On OTC Bulletin Board
TORONTO--(BUSINESS WIRE)--Oct. 1, 2002--YAK Communications (USA), Inc. (OTC Bulletin Board:YAKC), a provider of international long distance discount services to residential and business customers, has received approval to trade on the OTC Bulletin Board, under the OTC BB symbol: YAKC.
"An OTC Bulletin Board listing is an important step in our corporate growth which will help provide ongoing liquidity and enhanced access to financial markets, as we expand our dial-around service internationally," said YAK Communications President and CEO Charles Zwebner. "With five consecutive quarters of profitability, continued growth in recurring customers and the recent signing of a strategic Marketing and Services agreement with TELUS Corporation, we are well-positioned to meet our projections for this fiscal year and beyond."

Sales for fiscal year ended June 30, 2002 were $24,491,000, an increase of 64% over sales of $14,932,000 for the year ended June 30, 2001. Net income for fiscal year ended June 30, 2002 was $1,211,000, or $.20 per diluted share.

For the fourth quarter ended June 30, 2002, sales were $7,072,000, an increase of 57% over sales in the comparable period in 2001 of $4,491,000. Net income for the fourth quarter was $778,000, or $.12 per diluted share.

For the first quarter of fiscal year 2003 which ends September 30, 2002, the Company's revenue is expected to exceed $8,000,000.

All currency amounts are in US dollars.

ABOUT YAK COMMUNICATIONS INC.

YAK Communications (USA), Inc. (the "Company") was incorporated in December 1998 in Florida with the objective of providing international long distance discount services to both business and residential customers. The Company specializes in offering these services to consumers by way of a dial-around (in the United States this is commonly known as "10-10"). The Company is a facilities based reseller which utilizes its own switching systems. Visit www.yak.com.

Statements contained in this news release 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.

These risks and uncertainties include, without limitation, demand for the Company's services, competition from larger and/or more experienced telecommunications providers, the Company's ability to continue to develop its market, general economic conditions, government regulation, and other factors that may be more fully described in the Company's literature and periodic filings with the Securities and Exchange Commission.


CONTACT: The Communications Group Inc.
David Eisenstadt, 416/696-9900
[e-mail]
or
Danny Roth, 416/696-9900
[e-mail]
or
Investor Contact: YAK Communications (USA) Inc.
Charles Zwebner, 416/279-1370
[e-mail]