Trader Media completes C$436 million sale to Yellow Pages Group

Date Closed: 2/14/2006

Value: C$436 million

On February 14, 2006, Yellow Pages Group completed its acquisition of all the outstanding shares of Trader Media Corp. from Fraser Francis Limited for a total purchase price of $436 million paid in cash and YPG LP limited partnership units exchangeable for publicly traded units of Yellow Pages Income Fund.

Trader Media is Ontario’s largest publisher of print-based and online classified advertising publications, including AutoTrader, AutoMart, Renters News, Resale Homes and New Homes and Condos.

Ed Merringer, Dolores Di Felice and Emma Miller (corporate) and Larissa Tkachenko (tax) of BLG acted as counsel to Trader Media with respect to certain corporate and restructuring aspects of the transaction.