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

yes

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):

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

Invesco Limited

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

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

19 May 2010

6. Date on which issuer notified:

20 May 2010

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

22%, 23%

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 1 p shares

539,552,380

539,552,380

543,961,309

23.04%

 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

543,961,309

23.04%

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

 Bank of Ireland (Dublin) - 10,049,578

Bank of New York - 452,688,372

Bank Paribas - 1,746,599

Bank of New York Mellon - 6,015,743

Boston Safe Deposit - 1,823,024

Citibank (Hong Kong) - 3,179,307

HSBC Bank London - 13,412,639

Mellon Bank, Pittsburgh - 1,996,470

State Street Trust & Banking Co (London) - 49,358,777

Trust & Custody Services - 107,232

Northern Trust Company (London) - 3,384,524

Invesco PowerShares Capital Management Limited - 199,044

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

Sam Edwards

15. Contact telephone number:

01491 416381

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

Full name (including legal form for legal entities)

Invesco Limited

Contact address (registered office for legal entities)

Phone number

Other useful information (at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

Yell Group plc

Contact address

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

Phone number

+44 (0) 118 950 6501, [email protected]

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

N/A

C: Additional information

N/A