Investor Presentation

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Investor Presentation

• June 2007

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Disclaimer

• During this presentation we will be discussing
  Yells business outlook and making certain
  forward-looking statements. Any statements that
  are not historical facts are subject to a number
  of risks and uncertainties, and actual results
  may differ materially.
• We urge you to read the Risk Factors and
  cautionary language in the annual report posted
  on our website.
• We also draw your attention to our press release
  which is posted on our web site, for more
  information on the risks and uncertainties.

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Headline results
Adjusted Earnings figures stated before
exceptional items and amortisation throughout
this presentation
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The Yell Group
FY 07 revenue pf
FY 07 EBITDA pf
Yell Publicidad 22
Yell Publicidad 21
Yellow Book USA46
Yellow Book USA42
Yell UK 36
Yell UK 33
Adjusted EBITDA margin 32.6
Organic revenue growth 6.8
Proforma figures including Yell Publicidad on a
LTM basis
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The Yell proposition
Leading market positions
Simple, focused strategy
Investment in brand and usage
Channel neutral
Recession resilient
Sales excellence
World class processes
High margins
Strong cash generation
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Yellow Book USA 970 markets
Yellow Book acquired 1999 McLeod acquired
2002 TransWestern acquired 2005 Platform
acquisitions, in-fills and launches since 1999
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US competitive forces

• Over-capacity in directories
• Companion directories
• Incumbents launching independent directories
• Pricing
• Independent start-ups

Sustainability of this level of competition in
doubt
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Yellow Book USA initiatives

• Sharpening focus on competition
• Retain best sales people retune products refine
  sales techniques
• Driving usage in print and online
• Investment in brand - print and online usage up
• Monetise usage
• Expansion of footprint continues
• Well placed for potential consolidation
• Yellowbook.com development

Positioning for competitive shift and
opportunities
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Yell UK initiatives

• Driving usage
• Advertising
• Yell.com developments
• Growing volumes
• RPI-0 opportunity
• Yell.com online-only prospecting
• Monetising usage
• Up-sell in print and online

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The Spanish directories opportunity
(a) Defined as average of UK, France, Italy,
Spain and Sweden (b) Growth rate for 2007(E).
Source Oxford Economics May 07 (c) Defined as
the of respondents who have used printed yellow
pages in the last six months. Source per Kelsey
Group Feb 07 (except US Feb 06) (d) Defined as
percentage of businesses advertising in yellow
pages directories. Source Kelsey Group Global
Yellow Pages 2005 (e) Defined as percentage of
population with access to Internet 2006 data.
Source Jupiter Research
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Yell Publicidad initiatives

• Back to basics
• Driving usage
• Rationalisation of products
• Simplification of rate card
• Targeting customers
• Synergies a year early
• Print, paper, pre-press
• Portfolio
• Non-core businesses
• Expansion in Argentina

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On-line UK and US
Yell.com revenue up 61
Searchable advertisers at31 March (000s)
Unique users March (m)
RASA ()
Up 13
Up 37
Up 12
Yellowbook.com revenue up 62
Searchable advertisers at 31 March (000s)
Visitors March (m)
RASA ()
Up 45
Up 154
Down 3
RASA is revenue per average searchable advertiser
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Priorities for FY 08

• Yellow Book USA - focus on competing intough
  market
• Yell UK - marketing and sales under RPI-0
• Yell Publicidad - Back to Basics

Investment in brands
Channel neutral
Win, keep and grow
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• Investor Relations Jill Sherratt 44 (0)118 950
  6984
• www.yellgroup.com
• Yell, Queens Walk, Oxford Road, Reading,
  Berkshire RG1 7PT
• Trade mark of Yell Limited