YELLOW PAGES INCOME FUND
TSX : YLO.UN

YELLOW PAGES INCOME FUND

December 15, 2006 09:00 ET

Yellow Pages Income Fund Announces December 2006 Distribution

MONTREAL, QUEBEC--(CCNMatthews - Dec. 15, 2006) - Yellow Pages Income Fund (TSX:YLO.UN) announced today that its monthly cash distribution of $0.09083 per Fund unit will be paid on January 15, 2007 to unitholders of record at the close of business on December 29, 2006.

This cash distribution, covering the period from December 1, 2006 to December 31, 2006, is in accordance with the November 21, 2006 press release announcing the increase in cash distributions to unitholders from $1.03 to $1.09 annually.

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.

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