Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Yell Group plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

x

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

Increase in total voting rights issued by the Company

3. Full name of person(s) subject to the notification obligation:

FIL Limited

4. Full name of shareholder(s) (if different from 3.):

See section 9

5. Date of the transaction and date on which the threshold is crossed or reached:

20 May 2010

6. Date on which issuer notified:

24 May 2010

7. Threshold(s) that is/are crossed or reached:

13%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

 Ordinary 1p

296,014,412

296,015,412

313,728,705

313,728,705

 13.28%

 GB0031718066

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

313,728,705

 13.28%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of the proxy holder:

 FIL Limited

11. Number of voting rights proxy holder will acquire:

 17,713,293

12. Date on which proxy holder will acquire voting rights:

 20 May 2010

13. Additional information:

14. Contact name:

 Shaheen Hussain

15. Contact telephone number:

 [email protected]

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation

Full name

(including legal form of legal entities)

FIL Limited

Contact address

(registered office for legal entities)

Phone number & email

 Shaheen Hussain

Other useful information

(at least legal representative for legal persons)

 [email protected]

B: Identity of the notifier, if applicable

Full name

Yell Group plc

Contact address

Yell, Queens Walk, Oxford Road, Reading, Berkshire, RG1 7PT

Phone number & email

0118 950 6501 [email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

Yell Group plc