Yellow Pages Group Completes the Acquisition of Directory Systems & Services and Publishing Operations From Volt Information Sciences, Inc.

Market Wire, September, 2008

Yellow Pages Group (YPG) through Yellow Pages Income Fund (TSX: YLO.UN) announces that it has completed the acquisition of the assets of Volt Information Sciences, Inc. (VOLT)'s directory systems and services as well as its directory publishing operations, in accordance with the terms previously announced on July 30, 2008.

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 transaction will allow YPG to secure these strategic competencies.

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.

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 Investors Relations 514-934-2828 anne-sophie.roy@ypg.com