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Yellow Pages Income Fund Announces September 2008 Distribution


Montreal (Quebec), September 15, 2008 – Yellow Pages Income Fund (TSX: YLO.UN) announced today that its monthly cash distribution of $0.09750 per Fund unit will be paid on October 15, 2008 to unitholders of record at the close of business on September 30, 2008.

This cash distribution covers the period from September 1, 2008 to September 30, 2008.

About Yellow Pages Income Fund
Yellow Pages Income Fund indirectly holds an approximate 98% ownership interest in Yellow Pages Group and Trader Corporation. Yellow Pages Group is Canada’s leading local commercial search provider. The Company publishes annually more than 340 Yellow Pages™ and residential directories. It owns and manages Canada's most visited online directories — YellowPages.ca™ and Canada411.ca, as well as CanadaPlus.ca™, a network of seven local city sites. Trader Corporation is a Canadian leader in print and online vertical media with approximately 200 publications and 20 web sites covering four product verticals: automotive, real estate, general merchandise and employment. Its main brands include Auto Trader™, Auto Hebdo™, The Bargain Finder™, Buy&Sell™, Renters News™ and Home Renters’ Guide™. For more information about the Fund, visit www.ypg.com.

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Contacts:

Media
Annie Marsolais
Director, Corporate Communications
Tel: (514) 934-4016
annie.marsolais@ypg.com

     Investor Relations
Anne-Sophie Roy
Director, Corporate Finance and Investor Relations
Tel: (514) 934-2828
anne-sophie.roy@ypg.com