PHONETIME ANNOUNCES ENGAGEMENT OF INVESTOR-RELATIONS FIRM

Toronto, Ontario -- (May 6, 2002) Phonetime Inc. (CDNX: YPO) announced today it has signed an agreement to work with Ciris International Inc., an investor-relations firm with offices in Toronto, Montreal, and Southwestern Ontario. The companies will work together month-by-month on a project basis for an approximate monthly cost of $6,000

Toronto, Ontario -- (May 6, 2002) Phonetime Inc. (CDNX: YPO) announced today it has signed an agreement to work with Ciris International Inc., an investor-relations firm with offices in Toronto, Montreal, and Southwestern Ontario. The companies will work together month-by-month on a project basis for an approximate monthly cost of $6,000.

"With the strong growth and return to profitability that Phonetime has recently experienced, the company has now reached a critical mass and is focusing on attracting attention from new groups of investors," said Wayne Silver, President and CEO. "Our engagement of Ciris is a reflection of our commitment to expand our shareholder base by targeting a more diverse group of shareholders, as well as to build our profile in the national financial and media communities."
"We are very excited to begin working with Phonetime," said W. Daniel Mothersill, Managing Partner of Ciris International. "Phonetime is poised on the brink of significant growth, and Ciris can help the company leverage its successes to raise its profile with key financial and media audiences."

Ciris International Inc. is a full-service investor-relations and corporate-communications firm that specializes in working with clients to position them effectively with current and prospective investors. With a broad range of clients -- micro-cap to multinational, resource-based to high-tech -- Ciris goal is to help clients build positive and enduring relationships with financial audiences.

Phonetime is one of Canadas fastest growing telecommunications companies, with traffic volume of over 50 million minutes per month and growing. The company has built one of Canadas largest private networks into 21 cities with plans for a further 11 cities to be added by the end of 2003. Phonetimes retail and wholesale telecommunications services incorporate state-of-the-art VoIP-based technology for commercial applications, high-capacity switching platforms, and an international carrier network. Phonetime also operates a multilingual customer-service call centre and sells its own branded pre-paid cards in addition to providing phone cards to over 2,000 retail outlets, including Real Canadian Superstores, Business Depot/Staples, and Future Shop. Licensed as a Class A, International Carrier by the CRTC, the company currently has offices in Toronto, Vancouver, and Montreal.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

For more information contact:

Wayne Silver
President & CEO    
Phonetime Inc
TEL: 905-629-2606 ext. 304
FAX: 905-629-4841
wayne@phonetime.com

Richard Mellon   
Investor Relations
Phonetime Inc.   
TEL: 905-629-2606 ext. 353
FAX: 905-629-1982
richard@phonetime.com    

W. Daniel Mothersill
Managing Partner
Ciris International Inc.
TEL: 416-368-8770
FAX: 416-368-5122
danm@cirisint.com
                                        
http://www.phonetime.com