Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

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):

3. Full name of person(s) subject to thenotification obligation: iii

Invesco Limited

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

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

07 January 2011

6. Date on which issuer notified:

10 January 2011

7. Threshold(s) that is/are crossed orreached: vi, vii

22%, 23%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary 1p shares

541,219,634

541,219,634

546,966,894

23.16%

GB0031718066

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

546,966,894

23.16%

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

Bank of Ireland (Dublin) 6,744,401

Bank of New York - 458,774,218

Bank of New York Mellon - 5,266,323

Boston Safe Deposit - 666,825

Citibank (Hong Kong) - 867,816

HSBC Bank London - 16,476,241

Mellon Bank, Pittsburgh - 2,116,139

State Street Trust & Banking Co (Boston) - 437,545

State Street Trust & Banking Co (London) - 51,743,502

Trust & Custody Services - 113,966

Northern Trust Company (London) - 3,581,977

Invesco PowerShares Capital Management Limited - 177,941

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will ceaseto hold:

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

13. Additional information:

14. Contact name:

Sam Edwards

15. Contact telephone number:

01491 413681

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)

Invesco Limited

Contact address

(registered office for legal entities)

Registered Office

30 Finsbury Square London EC2A 1AG

Phone number & email

01491 417404

Other useful information

(at least legal representative for legal persons)

Fax: 01491 417309

B: Identity of the notifier, if applicable

Full name

Yell Group plc

Contact address

One Reading Central, Forbury Road, Reading, Berkshire RG1 3YL

Phone number & email

+44(0)1183582501/

[email protected]

Other useful information

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

C: Additional information

For notes on how to complete form TR-1 please see the FSA website.