Yellow Pages Group and Google Expand Strategic Relationship

Market Wire, October, 2007

Yellow Pages Group (YPG)(TSX: YLO.UN) today announced it has entered into a new strategic agreement with Google to become the first Canadian based reseller of Google AdWords(TM) ads.

Under the agreement, YPG will be able to provide its approximately 425,000 advertisers an enhanced advertising offering designed to help small and medium-sized businesses further market their businesses online. In addition to their existing advertisements on YellowPages.ca(TM) or Canadaplus.ca(TM), YPG's network of seven local city sites, YPG advertisers will now have the opportunity to reach potential buyers with Google AdWords. The Google AdWords advertising program allows advertisers to display advertisements alongside search results when users search for local information on Google and Google Maps.

"We have been a trusted business partner to Google since 2004," says Jean-Pascal Lion, Vice President, Marketing of Yellow Pages Group. "This renewed relationship further enhances our ability to deliver local search solutions and services to advertisers. The agreement also strengthens the unparalleled local content we offer to users who choose to use our search engines."

"Small and medium-sized businesses need to be where their customers are, and increasingly, that's online," said Eric Stein, Director of Local Markets at Google. "Our collaboration with Yellow Pages Group gives local businesses an efficient, cost-effective way to reach customers and provides users with better local information through relevant ads."

Mr. Lion added: "We constantly try to find ways to improve and add value to the advertising services we offer to Canadian businesses. We believe working with Google will result in the successful integration of AdWords within our product line and build the foundation for future services designed to help Canadian local businesses."

Google AdWords is an online advertising platform that delivers relevant ads to users seeking specific products and services. Businesses can select and bid on keywords related to what they are selling and pay only when an interested user clicks on their ad. When users perform a keyword query, AdWords ads can appear next to the search results on the Google.com and Google Maps(TM) services as well as on relevant partner websites throughout the Google AdSense(TM) advertising network. More information is available at www.adwords.google.com .

About Yellow Pages Group

Yellow Pages Group is Canada's largest telephone directories publisher. It publishes annually more than 340 Yellow Pages(TM) and residential directories. The Company owns and manages Canada's most visited online directories, YellowPages.ca(TM) and Canada411.ca, as well as CanadaPlus.ca(TM), a network of seven local city sites. YPG's network of web sites (including that of Trader Corporation, its affiliated company) reaches more than 40% of online Canadians. Yellow Pages Group is indirectly held by Yellow Pages Income Fund (TSX: YLO.UN).

Contacts: Yellow Pages Group Annie Marsolais Director, Corporate Communications 514-934-4016 annie.marsolais@ypg.com