Yellow Media

Common shares of Yellow Media Inc. (previously Yellow Pages Income Fund) began trading on the Toronto Stock Exchange on November 1, 2010. Prior to such date, shares traded as units of Yellow Pages Income Fund under YLO.UN ticker. The Yellow Media Inc. dividend rates indicated below constitute historical data and are presented only for information purposes. Such information should not be viewed or interpreted as an indication on future Yellow Media Inc. dividend rates on its common shares. Yellow Media Inc. hereby disclaims any liability for trades made in Yellow Media Inc. common shares on the basis of such information.

The dividends on common shares are designated as eligible dividends for the purposes of section 89 of the Income Tax Act (Canada) and any provision of any similar provincial and territorial legislation.

For any other question, contact Investor Relations at 1 877 YLO-2003
(1 877 956-2003) or ir.info@ypg.com.

Dividend History - 2010

Dividend History - 2011

^{* Represents the quarterly dividend for the months of August and September 2011.}