YP.Net Suspects Short-Selling Manipulation of Its Stock Price

YP.NET, Inc. (OTC BB: YPNT), a leading provider of Internet Yellow Pages and
related services, today issued the following statement:

On January 8, 2004, YP.NET's stock fell by more than 30 percent, on volume of
almost 4.7 million shares, compared to an average daily volume of 229,000
shares, following a misleading and false report published by Stocklemon.com, an
Internet newsletter that, as reported in The Wall Street Digest, has a history
for finding OTC stocks that could be manipulated into short position profit
opportunities for the newsletter's owners.

Tellingly, buried at the end of the article, Stocklemon.com states: "At any time
the principals of Stocklemon.com might hold a position in any of the securities
profiled on the site. Stocklemon.com will not report when a position is
initiated or covered."

"This article is totally unwarranted by the facts and circumstances of the
Company's business," stated Angelo Tullo, YP.NET's CEO, "and we vigorously deny
each and every false and defamatory statement and innuendo that it reported."

David J. Iannini, YP.Net's CFO added, "YP.NET just completed the most successful
year in the Company's history, achieving a 144 percent increase in net revenues
to $30.8 million and a 114 percent increase in net income to $7.9 million for
the year, compared to $3.7 million for the prior year. These results reflect the
125 percent increase in customers from 255,376 Internet Advertising Package
customers from approximately 113,565 IAP customers at Sept. 30, 2002.

"Clearly, the short-sellers were not expecting such a stellar performance, and
they may have used this Internet publication to cash in at our shareholders'
expense. We are exploring all possible legal remedies to protect our
shareholders including contacting the SEC," Mr. Tullo concluded.

About YP.Net Inc.
YP.Net Inc., a leading provider of Internet-based Yellow Pages services, offers
an Internet Advertising Package ("IAP") that includes a Mini-WebPage(TM) and
Preferred Listing through its Yellow Pages Web site at www.YP.Com. The company's
Web site contains listings for approximately 18 million businesses in the United
States and 150 million individuals in the United States and Canada. As of Sept.
30, 2003, YP.Net Inc. has 255,376 IAP advertisers.
YP.Net also provides an array of other Internet services that complement its
Yellow Pages Web site, including an Internet Dial-Up Package(TM) (dial-up
Internet access) and QuickSite(TM) (Web site design & hosting services).


YP.Net is a longstanding member, exhibitor and sponsor of the two major Yellow
Pages trade associations -- Yellow Page Integrated Media Association (YPIMA),
the major trade association of Yellow Pages publishers throughout the world, and
the Association of Directory Publishers (ADP), which mostly represents
independent Yellow Pages publishers. YP.Net Inc. is based in Mesa, Ariz. For
more information, visit the Web site at www.YP.Com.


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Contact:
     YP.Net Inc., Mesa
     Roger Bedier, 480-654-9646, ext. 1239
     Fax: 480-654-9747