YELLOW PAGES INCOME FUND
TSX : YLO.UN

YELLOW PAGES INCOME FUND
Caisse de dépôt et placement du Québec

Caisse de dépôt et placement du Québec

July 24, 2009 13:02 ET

Yellow Pages Income Fund Obtains $100 Million in Financing From the Caisse de depot et placement du Quebec

MONTREAL, QUEBEC--(Marketwire - July 24, 2009) - Yellow Pages Income Fund (TSX:YLO.UN) announced today that it has arranged a 5-year term loan of $100 million from the Caisse de depot et placement du Quebec. The credit facility will be available for general corporate purposes, including the refinancing of existing indebtedness.

"The Caisse is one of North America's leading financial institutions and to gain its support through this financing clearly speaks to the long-term potential of our business," said Christian M. Paupe, Executive Vice-President and Chief Financial Officer, Yellow Pages Group. "Since becoming a public entity in 2003, we have consistently focussed on building a strong capital structure. The facility provided by the Caisse will strengthen our capital structure and help us to pursue our financial and operational strategies going forward."

"This financing is based on our strategy of investing in performing companies that have a stable business and a market-leading position," said Normand Provost, the Caisse's Executive Vice-President, Private Equity and Chief Operations Officer. "With its leading print directories and online properties, its market reach and experienced management team, Yellow Pages Group leads its industry, not just in Canada but around the world."

In recognition of tightening financial markets, the Caisse earmarked $1.5 billion at the end of 2008 to finance companies with a promising outlook, together with other institutions involved in the market. Today's announcement is part of that program.

About the Caisse de depot et placement du Quebec

The Caisse de depot et placement du Quebec is a financial institution that manages funds primarily for public and private pensionand insurance plans. As at December 31, 2008, it held $120.1 billion of net assets. The Caisse is a world-class fund manager that invests in the main financial markets as well as in private equity and real estate. The Caisse is one of the largest investors in Quebec, with $17.3 billion invested in almost 500 companies and more than 600 buildings in the province at the end of 2008. For more information: www.lacaisse.com.

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™ (http://www.yellowpages.ca/) and Canada411.ca™ (http://www.canada411.ca/), as well as CanadaPlus.ca™ (http://www.canadaplus.ca/canada/home), 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™ (http://www.autotrader.ca/), HomeTrader.ca™ (http://www.hometrader.ca/), and LesPAC.com (http://www.lespac.com/app/accueil.php?1 equals 1). For more information about the Fund, visit www.ypg.com.

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