Former FCC Chairman Reed E. Hundt Joins eYak Strategic Advisory Board

Business Wire, March 20, 2000

Business/Technology Editors

BOSTON--(BUSINESS WIRE)--March 20, 2000

eYak, Inc., today announced the appointment of Reed E. Hundt, former chairman of the Federal Communications Commission (FCC), to the eYak Strategic Advisory Board. Hundt will provide counsel to the eYak board of directors and executive management on business and product strategies.

"We're proud to have Reed join our advisory board," said David Friend, eYak co-founder, chairman, and CEO. "He brings tremendous insight and perspective, as evidenced by his groundbreaking work at the FCC, as well as a legal and regulatory understanding of emerging technologies. His vision and counsel will be a very valuable asset to us."

Hundt, who currently provides consulting and investment advice on telecommunications as a principal of Charles Ross Partners, LLC, served as chairman of the FCC from 1993 to 1997. During his tenure, he presided over the implementation of the historic Telecommunications Act of 1996, the first major overhaul of telecommunications law in almost 62 years. He also helped negotiate the World Trade Organization Telecommunications agreement, opening markets in 69 countries to competition and dropping barriers to foreign investment.

Under Hundt's administration, the FCC raised more than $12 billion for the U.S. Treasury through competition-creating spectrum auctions. In addition, Hundt was a major force in implementing the Snowe-Rockefeller program, which dedicates more than $2 billion annually to connect all K-12 classrooms in the country to the Internet.

Prior to his position as chairman of the FCC, Hundt was a partner in the Washington, D.C., office of Latham & Watkins, an international law firm. His work involved legal and regulatory issues in emerging technologies, such as cellular telephones, direct broadcast satellite, and interactive television.

"Throughout my career, I've been intimately involved with the Internet, telecommunications, and emerging technologies. I see eYak as an opportunity to combine my experience and passion in all three of these areas," said Hundt. "David and the company have a clear understanding and a unique strategy, and I look forward to contributing to their vision."

In the coming months, eYak plans to expand the Strategic Advisory Board with senior-level industry leaders, academic leaders, and other key industry influencers.

About eYak, Inc.

eYak, Inc., was founded in 1999 by four-time high-tech entrepreneurs David Friend and Jeff Flowers. It is privately held and based in Boston. This summer, the company plans to deliver a platform that combines the power and flexibility of the Internet with the convenience of the telephone. Since its formation, eYak has closed more than $16 million in financing led by Cambridge, Mass.-based Zero Stage Capital and Venrock Associates of New York. Boston-based Bain & Company, the global strategy-consulting firm, is also a minority investor. For more information, visit www.eyak.com.