Yellow Pages Group
TSX : YLO.UN

Yellow Pages Group

November 18, 2009 10:18 ET

Yellow Pages Group Announces the Redemption by YPG Holdings Inc. of 4.65% Medium Term Notes Series 6 Due 2011

MONTREAL, QUEBEC--(Marketwire - Nov. 18, 2009) - Yellow Pages Group (TSX:YLO.UN) announced today that YPG Holdings Inc. (the "Company") intends to exercise its right to redeem all of its outstanding $150 million 4.65% Medium Term Notes, Series 6, due February 28, 2011 (CUSIP No. 98424ZAF14) (the "Series 6 Notes") on the following terms:

- Redemption Date: January 15, 2010;

- Redemption Price: $1,041.681 per $1,000 principal amount;

- Accrued and Unpaid Interest: $17.836 per $1,000 principal amount; and

- Total Redemption Price and Accrued and Unpaid Interest: $1,059.517 per $1,000 principal amount.

The redemption price has been determined in accordance with the terms of the Series 6 Notes and the provisions of the trust indenture dated April 21, 2004 governing the Series 6 Notes. Interest accrued on the Series 6 Notes up to, but excluding, the redemption date will be paid on the redemption date. The Company plans to finance the redemption through its existing commercial paper program.

About Yellow Pages Income Fund

Yellow Pages Income Fund indirectly holds an approximate 98% ownership interest in Yellow Pages Group and Trader Corporation. Yellow Pages Group is Canada's leading local commercial search provider. It publishes annually more than 340 Yellow Pages™ and residential directories. The Company owns and manages Canada's most visited online directories, YellowPages.ca™ and Canada411.ca™, as well as CanadaPlus.ca™, a network of seven local city sites. Trader Corporation is a Canadian leader in print and online vertical media with over 160 publications and 20 web sites covering four product verticals: automotive, real estate, generalist, as well as employment and other. Its main print brands include Auto Trader™, Auto Hebdo™, The Bargain Finder™, Buy& Sell™, Renters News™ and Home Renters' Guide™, and its online destinations, AutoTrader.ca™, HomeTrader.ca™, and LesPAC.com. For more information about the Fund, visit www.ypg.com.

This news release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company.

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements about the objectives, business and affairs of the Company and the Fund. These statements are forward-looking as they are based on our current expectations, as at November 18, 2009, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason.

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