Telehop Communications Inc. Engages Investment Banking Firm

    TORONTO, Oct. 2 /CNW/ - Telehop Communications Inc. (TSX Venture: HOP), a
provider of dial around, toll-free, virtual calling card and cellular long
distance services to residential and business customers, announced today that
the Board of Directors has engaged the investment banking firm of Orion
Securities Inc. to advise the Company with regard to its various strategic
alternatives, including the potential sale of the Company to maximize
shareholder value.
    "Our Company has strong cash flows in its core operations, strong brand
recognition, a significant loyal customer base, and a net cash position of
over $3 million. This process is designed to try to deliver the value of the
Company to our shareholders," said Hersh Spiegelman, Chairman of the Board of

    About Telehop Communications

    Telehop is licensed by the CRTC and provides a complete range of
value-priced telecommunications services to Canadians in both residential &
business markets Telehop offers its branded 10-10-620 and the 10-10-100, Dial
Around Services and "WorldTalk(TM)" 'Equal Access' Long Distance and
alternative Directory Assistance Programs. Telehop also provides toll free
numbers, Virtual Calling Cards, and "Broadtalk(TM)" VOIP flat rate service.
    For more information on Telehop's products and services check our
websites; -;;;; and

    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", "estimates", "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.

    %SEDAR: 00004365E

For further information:

For further information: Orion Securities Inc., Aaron Wolfe, Investment
Banking, (416) 848-3618,; Telehop Communications
Inc., Patrick V. Farrell, Investor Relations, (866) 530-7988,

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