International wireless heavyweights, Weather and Novator, join Globalive syndicate to compete in Canada's wireless auction

Globalive attracts global investment and submits $235M deposit to enter auction

TORONTO - Globalive Communications Corp, parent of Yak Communications, announced that international wireless veterans, Weather Investments and Novator, have joined its syndicate to bid in the upcoming Advanced Wireless Services ("AWS") spectrum auction.

The syndicate submitted a strong application with a $235 million deposit in the form of letters of credit to Industry Canada on March 10, 2008.

"With the depth and experience of Weather and Novator, Globalive is well positioned to become the most cost-effective, feature rich national wireless provider in Canada," said Anthony Lacavera, Chief Executive Officer, Globalive Communications. "Our ability to attract these international partners is a reflection on the strength of the Globalive Wireless business plan and prospects."

Globalive plans to expand its "no contracts, no gimmicks" philosophy of its popular Yak brand from its current offering of affordable and accessible dial-around, home phone, internet and long distance services, to the undercontested wireless market.

"This partnership with Globalive is consistent with our strategy to seek opportunities with growth and profit potential that will at the same time leverage our operating expertise and scale in building wireless telecommunications networks," said Michael O'Connor, Business Development Officer, Weather Investments.