Exhibit 99

                      PRESS RELEASE DATED OCTOBER 11, 2001.


BESTNET  ANNOUNCES  REDEMPTION OF OUTSTANDING  PREFERRED  SHARES WITH RESTRICTED
COMMON STOCK October 11, 2001 09:15:00 AM ET

TUCSON, Ariz., Oct 11 /PRNewswire/ -- BestNet Communications Corp. (OTC Bulletin
Board: BESC), a provider of patented Internet-based telecommunication solutions,
announced  today it has redeemed all of the  outstanding  shares of its Series B
convertible  preferred  stock (the  "preferred  stock")  through the issuance of
shares of restricted common stock.

The preferred  stock was originally  issued in connection  with the Company's $5
million dollar private placement completed in May 2000. The financing was placed
by Toronto based  securities  firm Thomson  Kernaghan and Company Ltd.,  through
Cedar Avenue LLC, a Cayman Island limited  liability  investment  company.  Mark
Valentine,  Chairman of Thomson Kernaghan said: "Cedar Avenue has been following
BestNet  closely over the last year.  Unlike many other companies in the telecom
sector,  the BestNet stock has performed very well.  Cedar Avenue  believes that
the  patented  Internet  telecommunication  technology  exclusively  licensed to
BestNet offers significant efficiencies and cost-savings at a time when business
and consumers are trying to reduce expenses.  BestNet is uniquely  positioned to
rapidly grow,  based on its innovative  products and new  management  team. As a
result,  Cedar Avenue has decided to take a long term  position in the Company's
stock."