[spacer.gif] [LogoETLKwhite200.gif] OTC/BB Symbol: [1]ETLK Mrkt. Cap:$12 M Shares: Outstanding:34,400,000 Float (Est.):1,500,000 [img_about_a.jpg] [img_about_b.jpg] [img_about_c.jpg] [2]ETLK REPORTS 18% [3]INCREASE IN REVENUE UNDERVALUED? CLICK BELOW TO LEARN MORE [4]QUOTE | [5]PRESS RELEASE | [6]SEC FILINGS REVENUE Today reported an increase of 18.2% in revenue or $2,947,878, for the first quarter 2002, as compared to $2,493,188 Q1, 2001. The Per-share earnings for Q1 2002 remained inline with Q1 2001 at a loss of one cent per share. The market in China is the world's fastest growing telecommunication market. With an office in Cerritos, CA. and an affiliate in Boston, MA. [7]ETLK is a leading telecommunications company with corporate owned international gateway digital switching facilities in China, Hong Kong, U.S., Taiwan and Singapore. These facilities have the capability of PRI, C7, SS7 and other signaling commonly used by major international carriers. This allows [8]ETLK to operate international telecommunications services on both sides of the Pacific to over 220 foreign destinations. RECENT ACQUISITIONS GridTel.Net has points of presence (POPs) assets in Kathmandu, 2 sites in Bangladesh, Indonesia, Mongolia, Bangkok, Mumbai, Dehli, Manila, and Cambodia. The company has strong relationships with local ISPs and international carriers in the Indo-China and South Asia regions, and provides direct routes to Nepal, India, Bangladesh, Indonesia, Singapore, Cambodia, Laos, Pakistan and the Philippines. GridTel.Net records over 10 million calling minutes per month and is a holder of an External Telecommunications Services (ETS) license in Hong Kong. GridTel's projected annual revenues for 2002 are US$24 million, with approximate annual gross profit of US$1.44 million. TOTAL TELCOM PRESENCES They enable telecommunications carriers and other service providers the ability to offer long distance voice, data, fax, and VOIP services to their end-customers, through an advanced and scaleable network. [9]ETLK has points of presence (POP) in locations where most major international carriers are located (New York City, Boston and Los Angeles ), which enables the Company to have easy access to its customers, as well as the most competitive international termination rates in the world. The Company's operations employ advanced systems including call collection and call data storage linking to a proprietary reporting system which permitting management to determine the profitability margins by destination country, by customer, as well as for overall daily operations. INVESTMENT HIGHLIGHTS * The Gartner Group estimates the global telecommunications market is projected to reach approximately US$1.9 trillion by 2003. * Globally, Voice over IP (VOIP) traffic was responsible for a record-setting 7.7 billion minutes in 2000, and the market is still in its early stages. It is expected to grow dramatically, to 500 billion minutes by 2005. * [10]ETLK also has expanding networks and agreements with AT&T, MCI Worldcom Inc., Global Crossing, New World Telephone, Wharf New T&T, Worldcom Asia Pacific, Great Wall Broadband. * [11]ETLK's 2002 revenue porjections is USD $20 million. * [12]ETLK has agreements with their major carriers and opening new routes, Indonesia, Vietnam and Cuba. This will add to their revenue with less cost. * [13]ETLK’s market cap is currently less than their sales revenue. CONTACT YOUR BROKER NOW! [14]ETLK has shown excellent business execution despite the tough economy and has maintained a significant cost advantage over the competition and been achieving its objectives in a consistent and superlative fashion resulting in more than an 18% growth in 1^st quarter 2001. Call your Broker Now! Disclaimer Madison, Wall & LaSalle (MW&L) is an independent electronic publisher of information on selected public companies. In consideration of its electronic dissemination of the information contained in this notice. MW&L has received A) 100,000 shares of ETLK common stock restricted, Rule 144, and B) Cash Payment of $20,000. MW&L did not receive any other compensation, of any kind, for its services other than stated herein. MW&L is not a registered investment advisor or a broker dealer. 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References 1. http://finance.yahoo.com/q?s=ETLK.OB&d=t 2. http://finance.yahoo.com/q?s=ETLK.OB&d=t 3. http://finance.yahoo.com/q?s=ETLK.OB&d=t 4. http://finance.yahoo.com/q?s=ETLK.OB&d=t 5. http://biz.yahoo.com/prnews/020606/lath040_1.html 6. http://www.freeedgar.com/search/FilingsResults.asp?SourcePage=CompanyList&CIK=1084384&UseFrame=1&FormType=&DateFiled=&CompanyName=ELEPHANT+TALK+COMMUNICATIONS+INC 7. http://finance.yahoo.com/q?s=ETLK.OB&d=t 8. http://finance.yahoo.com/q?s=ETLK.OB&d=t 9. http://finance.yahoo.com/q?s=ETLK.OB&d=t 10. http://finance.yahoo.com/q?s=ETLK.OB&d=t 11. http://finance.yahoo.com/q?s=ETLK.OB&d=t 12. http://finance.yahoo.com/q?s=ETLK.OB&d=t 13. http://finance.yahoo.com/q?s=ETLK.OB&d=t 14. http://finance.yahoo.com/q?s=ETLK.OB&d=t