Investor Presentation June 2006

2 Disclaimer During this presentation we will be discussing Yell’s 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 on Form 20-F of our subsidiary, Yell Finance BV, that was filed with the SEC in June 2005 and is 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. Annual reports for Yell Group plc are posted on our web site.

3 Yell Group FY 06  Revenue up 26% to £1,621m US 57%; UK 43%  Adjusted EBITDA up 28% to £503m US 51%; UK 49%  Cash conversion 89%  Free cash flow £253m  Adjusted diluted EPS up 25% to 32.8p  Total dividends per share up 21% to 15.3p Yell UK  Total UK revenue up 5%  Yellow Pages rates capped at RPI-6%  Yell.com revenue growth of 65% Yellow Book USA  US revenue up 42%*; organic 15% and 27% from acquisitions (mainly TransWestern)  Strong margin growth continued Adjusted EBITDA excludes costs from lawsuits associated with a Yellow Book advertising campaign in FY05 and costs arising from the TransWestern acquisition, and an exceptional credit from releasing a provision for IPO costs in FY06. * In local currency

4 Yell Group - strong historic growth CAGR 17% * Figures for years 1-3 reported under UK GAAP Adjusted EBITDA is stated before exceptional costs arising from the buyout arrangement under BT ownership in FY02; IPO costs and restructuring costs relating to the closure of a Yellow Book West production site in FY03; IPO costs in FY04; costs from lawsuits associated with a Yellow Book advertising campaign in FY05; and costs arising from the TransWestern acquisition, and an exceptional credit from releasing a provision for IPO costs in FY06 Revenue (£m)Adjusted EBITDA (£m) EBITDA margin % CAGR 20%

5 UK print – win, keep, grow Unique advertisers (000s)ARPA (£) Effective Yellow Pages price reduction % Retention %

6 Competition Commission’s current timetable Notifying provisional findings June 2006 Notifying and considering possible remedies (if required) June Remedies hearings (if required) June Statutory deadline 4 April 2007 Final deadline for all parties’ responses / submissions 29 September Publish report To be decided after publication of provisional findings

7 Yell.com Searchable advertisers at 31 March (000s) Searches March (m) REVENUE UP 65%

8 Leading the shareshift in the US market % Revenue growth for publishers% Independents’ market share Source: The Kelsey Group, March 2006

9 Yellow Book - 60% of Independents Source Yell, TransWestern Yellow Book 15% ORGANIC AND 27% ACQUISITION REVENUE GROWTH

10 Yellow Book print – win, keep, grow Unique advertisers (000s)ARPA ($) Retention % * Local currency

11 Yellowbook.com Visitors March (m)Adverts online at 31 March (000s) * Includes Worldpages.com acquired with TransWestern REVENUE UP 47%

12 TransWestern integration  Sales –Compensation plan, zoning in final stages –Churn down from c100% to c70% and more to come –Sales per rep already c $220,000 – up from $190,000  Operations –All 5 databases converted –All offices networked  Relaunches –Tucson closed ahead in competitive overlap market –8 more to come

13 The Spanish directories opportunity ( a) Defined as average of UK, Germany, France, Italy and Spain (b) Growth rate for 2005; Source: Deutsche Bank economic research (c) Defined as the probability of a representative individual to use Print to look up a business in his/her area – per Kelsey Group report March 2006 (d) Defined as no of separable businesses who advertise in directory print as a proportion of total businesses - per Kelsey Group; Global Yellow Pages 05 (e) Defined as percentage of population with access to Internet - per Kelsey Group report November 2005 SpainUKEurope (a) Real GDP growth (b) 3.4%1.8% 1.5% Print usage % (c) 27%65%43% Online penetration % of population (e) 37%60%49% Print penetration % of population (d) 14%24% 20%

14 Transferral of best practice to TPI  Grow usage –Refocus on in core product –Improve comprehensiveness and scoping –Speed up distribution  Grow customer numbers –Focus on core products  Grow ARPA –Reinvest on sales force and refocus sales force on core products –Redesign discounting programme and simplify advert range  Internet opportunity –Accelerate unbundling, review and simplify pricing structure –Incentivisation of sales force and specialised training

15 Priorities for FY07 UK  Win, keep and grow print, online and voice  Strong arguments to Competition Commission US  Win, keep and grow in print and online  Continue expansion Spain  Complete acquisition  Integration and transferral of best practice

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Investor Relations: Jill Sherratt +44 (0) Yell, Queens Walk, Oxford Road, Reading, Berkshire RG1 7PT ™Trade mark of Yell Limited