Acquisition of equity interest in Telehop



    TORONTO, Aug. 19 /CNW/ - 1113589 Ontario Inc. (the "Offeror") announced
its acquisition today of 2,344,500 common shares of Telehop Communications
Inc. ("Telehop"; TSXV: HOP) representing approximately 17.6% of the total
issued common shares of Telehop. The Telehop shares were acquired on the TSX
Venture Exchange for investment purposes at a price of $0.66 per share.
    The vendor of the Telehop shares has granted the Offeror a 
non-transferable put option in respect of the Telehop shares acquired by the
Offeror today. The put option is exercisable in the event an offer to acquire
all of the shares of Telehop at a minimum cash price of $0.73 per share is not
made by October 31, 2008. If such an offer is not made by October 31, 2008,
the Offeror has the option of requiring the vendor to purchase the Telehop
shares at a price of $0.73 per share.
    The Offeror believes the common shares of Telehop are undervalued,
particularly in the context of a proposed offer to acquire shares of Telehop
by Globalive Communications Corp.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this news release.
    





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1113589 ONTARIO INC.

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