Yellow Pages Group
TSX : YLO.UN

Yellow Pages Group

May 19, 2006 08:30 ET

Yellow Pages Group Obtains Regulatory Clearance for the Acquisition of Classified Media 'Canada' Holdings Inc.

MONTREAL, QUEBEC--(CCNMatthews - May 19, 2006) - Yellow Pages Group (YPG) through Yellow Pages Income Fund (TSX:YLO.UN) is pleased to announce that Competition Act clearance was obtained from the Commissioner of the Competition Bureau today in connection with YPG's proposed acquisition of Classified Media (Canada) Holdings Inc. (Trader Canada).

Details of the proposed acquisition were reported in YPG's press release dated May 1, 2006, which can be found at www.ypg.com. The acquisition is expected to close on June 8, 2006.

"This is great news as it means that we can soon move ahead to realize the synergies that will result from implementing the transaction. The acquisition of Trader Canada represents the critical step in the creation of a national platform for verticals following the acquisition of TMC earlier this year," said Marc P. Tellier, President and CEO of Yellow Pages Group.

The acquisition will result in the creation of a second national platform for YPG, this time in vertical media by combining YPG's affiliate company Trader Media Corporation (TMC)'s presence in Ontario with that of Trader Canada's in the rest of Canada. The combination of Trader Canada and TMC gives YPG a national presence with over 200 publications and 20 web sites.

About Yellow Pages Income Fund

Yellow Pages Income Fund is an unincorporated, open-ended, limited purpose trust established to invest in Yellow Pages Group. The Fund indirectly holds an approximate 96% ownership interest in Yellow Pages Group.

About Yellow Pages Group

Yellow Pages Group is Canada's largest telephone directories publisher. Yellow Pages Group publishes annually more than 330 Yellow Pages™ directories and alphabetical pages. The Company owns and manages Canada's most visited online directories YellowPages.ca™, Canada411.ca, as well as the CanadaPlus.ca, a network of seven local city sites. In addition, Yellow Pages Group is a leader in print and online vertical media in Ontario through Trader Media Corporation (TMC). TMC is an affiliate of Yellow Pages Group. For more information about the Company, visit www.ypg.com.

Contact Information