Yellow Pages Group
TSX : YLO.UN

Yellow Pages Group

October 02, 2006 23:59 ET

Yellow Pages Group and MTS Allstream Complete Directory Business Transaction

MONTREAL, QUEBEC and WINNIPEG, MANITOBA - Oct. 2 - Yellow Pages Group ("YPG"), through the Yellow Pages Income Fund (TSX:YLO.UN) and MTS Allstream Inc. ("MTS Allstream"), a wholly owned subsidiary of Manitoba Telecom Services Inc. (TSX:MBT), announced today that they have completed their directory business transaction in accordance with the terms previously announced on August 14th 2006.

With this acquisition, YPG will now publish the 11 different residential and Yellow Pages™ directories issued previously across Manitoba by MTS Allstream Inc, and will operate the www.mtsyellowpages.com™; directory advertising portal. The residential directories in Manitoba will be published by YPG on behalf of MTS Allstream under a long term Publication Agreement. YPG will now be publishing over 340 directories with a total circulation of 30 million copies. In addition, YPG will be the number one directory publisher in Canada's top 10 largest markets thanks to its Yellow Pages™ directories. The acquisition allows YPG to further strengthen its asset base across its two national platforms of Directories and Vertical Media.

MTS Allstream continues as one of Canada's leading national communications solutions providers, with a sharpened focus on serving residential customers in Manitoba and business customers in every major market across the country with innovative telecommunications products and services.

About Yellow Pages Income Fund

Yellow Pages Income Fund indirectly holds an approximate 96% ownership interest in Yellow Pages Group and Trader Corporation. Yellow Pages Group is Canada's largest telephone directories publisher. 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 approximately 200 publications and 20 web sites covering four product verticals: automotive, real estate, general merchandise and employment. Its main brands include Auto Trader™, Auto Hebdo™, The Bargain Finder™, Buy&Sell™, Renters News™ and Home Renters' Guide™. For more information about the Fund, visit www.ypg.com.

About MTS Allstream Inc.

MTS Allstream Inc. is one of Canada's leading national communication solutions providers, delivering innovative products and services through its Consumer Markets and Enterprise Solutions divisions. Our Consumer Markets division serves residential and business customers in Manitoba with a full suite of wireline voice, high-speed Internet and data, next generation wireless, digital television, security and alarm monitoring services. Our Enterprise Solutions division provides national business customers with a world-class portfolio of IP-based connectivity, managed network services, and professional services. MTS Allstream's extensive national broadband fibre optic network spans more than 24,300 kilometres, and provides international connections through strategic partnerships and interconnection agreements with other international service providers. MTS Allstream is a subsidiary of Manitoba Telecom Services Inc. whose common shares are listed on The Toronto Stock Exchange (trading symbol: MBT). For more information, please visit: www.mtsallstream.com.

Contact Information