Yellow Média inc.

Yellow Média inc.

October 01, 2010 10:16 ET

Yellow Pages Income Fund Receives Final Court Approval for Conversion to a Corporation

MONTREAL, QUÉBEC--(Marketwire - Oct. 1, 2010) - Yellow Pages Income Fund (TSX:YLO.UN) is pleased to announce that the Superior Court of Québec today issued a final order approving YPG's previously announced plan of arrangement under the Canada Business Corporations Act. The plan of arrangement will result in the conversion of YPG's income trust structure into a dividend paying publicly traded corporation to be named Yellow Media Inc. Upon completion of the plan of arrangement, unitholders of YPG will receive, for each unit of YPG held, one common share of the resulting public corporation. The plan of arrangement is expected to be completed and become effective on or about November 1, 2010.

About Yellow Media Inc.

Yellow Media Inc., a subsidiary of Yellow Pages Income Fund, owns Yellow Pages Group and Trader Corporation. Yellow Pages Group (YPG) is Canada's leading performance media and marketing solutions company. The Company brings consumers and businesses together locally through its network of print, digital and mobile properties. YPG enables consumers to make smarter decisions, helping people find what they need wherever and whenever. YPG partners with businesses to build successful marketing and lead generation programs, helping them grow their business. Trader Corporation (Trader) is a leader in print and digital vertical media and offers a broad set of services such as inventory management, web solutions, optimization of media spend, and lead generation campaigns. Trader caters to the automotive, real estate and generalist verticals. Yellow Media Inc. owns and operates some of Canada's leading properties and publication including Yellow Pages™ directories,™,™, Auto Trader™(.ca), Home Trader™(.ca), and For more information,

Caution Concerning Forward-Looking Statements

This press release contains forward-looking statements about the objectives, business and affairs of Yellow Pages Income Fund and Yellow Media Inc. These statements are forward-looking as they are based on our current expectations, as at October 1, 2010, about our business and the markets we operate in, and on various estimates and assumptions. Our actual results could materially differ from our expectations if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. As a result, there is no assurance that any forward-looking statements will materialize. Risks that could cause our results to differ materially from our current expectations are discussed under "Risk Factors" and "Risk Factors Relating to the Arrangement" in our management proxy circular dated March 24, 2010. We disclaim any intention or obligation to update any forward-looking statements, except as required by law, even if new information becomes available, as a result of future events or for any other reason.

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