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

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 dépôt et placement du Québec. 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 VicePresident, 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.