Yellow Pages Group to Acquire the Directory Systems & Services and Publishing Operations From Volt Information Sciences, Inc.

Yellow Pages Group (YPG) through Yellow Pages Income Fund (TSX: YLO.UN) announced today it has agreed to acquire the assets of Volt Information Sciences, Inc. (VOLT)'s directory systems and services as well as its directory publishing operations for a net purchase price of USD$178 million payable in cash at closing. The companies have signed an Asset Purchase Agreement, and the transaction is expected to close in September 2008, subject to regulatory approval.

VOLT provides systems and services for the production and management of databases as well as the digitization of display advertisements for directory and other media publishers. VOLT has been a partner to YPG for the last 17 years. The contemplated transaction will allow YPG to secure these strategic competencies.

"This acquisition represents a key milestone in the evolution of our technological platform, mostly for our directory business but also for our vertical media operations," stated Marc P. Tellier, President and Chief Executive Officer of Yellow Pages Group. "With VOLT's long-standing industry knowledge for publishing, combined with its ability to transport this into information technology excellence, we believe we are in a great position to continue to strengthen our operational efficiency and market leadership."

YPG has invested significantly in capital expenditures over the past few years to develop integrated systems, from publishing to customer relationship management. VOLT's best-in-class processes continue to play a key role in reinforcing the organizational integration of YPG's back- and front-office systems. The company expects to realize a number of benefits from the integration of VOLT's operations, including a faster time-to-market on ongoing key print and online initiatives.

In addition to the directory systems and services, YPG acquires the publishing operations Data National, a publisher of independent directories in selected Mid-Atlantic and Southeast American markets. The company operates print community directories under the Community Phonebook brand name. "We intend to continue operating the directory business as a complement to our national Canadian platform of directories," added Mr. Tellier.

VOLT's directory and publishing operations reported an EBITDA before allocation of corporate expenses of USD$19 million for last fiscal year ended October, 2007. The acquisition is expected to be immediately accretive to Distributable cash per unit. The transaction excludes VOLT's operations in Uruguay.

Ropes & Gray LLP acted as legal counsel to YPG in this transaction.

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 leader local commercial search provider. 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. 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, generalist, as well as employment and other. Its main brands include Auto Trader(TM), Auto Hebdo(TM), The Bargain Finder(TM), Buy&Sell(TM), Renters News(TM) and Home Renters' Guide(TM). Web site: www.ypg.com .

Contacts: Yellow Pages Group Annie Marsolais Media Relations 514-934-4016 Annie.Marsolais@ypg.com Yellow Pages Group Anne-Sophie Roy Investor Relations 514-934-2828 anne-sophie.roy@ypg.com