June 08, 2007 13:12 ET

Yellow Pages Income Fund Announces the Declaration of the Initial Dividend on the First Preferred Shares, Series 1 Issued by YPG Holdings Inc.

MONTREAL, QUEBEC--(Marketwire - June 8, 2007) - Yellow Pages Income Fund (TSX:YLO.UN) announced today that its subsidiary YPG Holdings Inc. has approved the payment of the initial quarterly cash dividend of $0.32894 per first preferred shares, series 1 payable on June 27, 2007 to shareholders of record at the close of business on June 20, 2007.

The dividend is designated as an eligible dividend for the purposes of section 89 of the Income Tax Act (Canada) and any provision of any similar provincial and territorial legislation.

About Yellow Pages Income Fund

Yellow Pages Income Fund indirectly holds an approximate 97% 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,™ and, as well as™, 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

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