Exhibit 99.1


MAJOR  SHAREHOLDER  ACCELERATES  REPAYMENTS  TO  YP  CORP.
Mesa, Arizona - (Business Wire)
May 19, 2004

YP Corp., (OTC BB: YPNT) a leading provider of Internet yellow pages and related
services, has announced that Morris & Miller, Ltd., one of its principal
shareholders, has made another accelerated payment on its loan obligation to the
Company

This week, the Company received its second accelerated loan repayment in the
amount of $600,000 from Morris & Miller, Ltd. The first repayment from Morris
and Miller, Ltd. was received on April 29th in the amount of $500,000.

The $1.1 million thus far repaid represents approximately 31 percent of the
total amount borrowed from YP Corp. by Morris & Miller, Ltd.

Angelo Tullo, the CEO of YP Corp. stated, "Under the loan termination agreement,
the M&Ms, both managed by Ilse Cooper, have until April 2007 to repay the loans.
We are still negotiating an accelerated repayment schedule, but Ms. Cooper
decided to make some substantial payments as a gesture of good faith." Tullo
said. "She also indicated that accelerated payments from Mathew and Markson,
Ltd., another major shareholder managed by Ms. Cooper, would also be forthcoming
once an accelerated payment schedule is agreed upon."

"Ever since I joined the Company four years ago, we have been working to
eliminate the put/loan agreement that previous management had made with the M&Ms
as part of the Company's acquisition of its core Internet yellow page business
in June 1999." Tullo said.

"Terminating the loan agreements enables the Company to pay quarterly dividends
to all shareholders and is another step in our continuing effort to eliminate
related party transactions," stated David J. Iannini, YP Corp.'s CFO.


ABOUT YP CORP.

YP Corp., 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 March
31, 2004, YP Corp. had approximately 305,000 IAP advertisers.

YP Corp. 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 Corp. 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 Corp. is based in Mesa, AZ. For more information,
visit the web site at www.YP.Com.


YP.CORP. CONTACT:

David Iannini
Chief Financial Officer
YP Corp.
480-654-9646 x1258
Fax 480-654-9747