Lenders support new strategy and agree amendments

 For Immediate Release 19 December, 2011

Yell Group Plc ("Yell")

Lenders support new Group strategy and agree amendments

In its interim results statement on 8 November 2011, Yell announced that it had started to speak to its lenders about increasing the headroom under its Net Debt to EBITDA covenant, as well as several additional debt related and administrative amendments.

These proposals were set out in a Memorandumto Lenders on 14 November 2011 and a Notice to Lenders on 9 December 2011.  Yell today announces that all of these proposals have now been approved by an overwhelming majority of lenders.

Tony Bates, Chief Financial Officer, said:

"We are pleased that, with this decision, lenders have strongly endorsed our new strategy and have given the Group additional freedom to carry out its transformation programme."

About Yell

Yell Group is a leading provider of digital services within the emerging local eMarketplace for consumers and SMEs across its operations in the UK, US, Spain and some countries in Latin America.

Building on its strong presence in the local market through its current digital and print portfolio, Yell is developing a broad range of digital services tailored to the converging needs of SMEs and consumers.

These address both the SMEs' need to grow, transact and be efficient in the digital world, and the consumers' need to connect locally to the goods and services they want, in a way which saves them time and money, and moves their lives forward.

In the year ended 31 March 2011, Yell Group had 1.3 million SME customers.

Enquiries:

www.yellgroup.com