Yellow Pages Income Fund Announces the Declaration of the Quarterly Dividend on the First Preferred Shares Series 1, 2, 3 and 5 Issued by Yellow Media Inc.

--  Quarterly cash dividend of $0.26563 per first preferred shares, Series 1
    (TSX: YPG.PR.A) 
    
--  Quarterly cash dividend of $0.31250 per first preferred shares, Series 2
    (TSX: YPG.PR.B) 
    
--  Quarterly cash dividend of $0.42188 per first preferred shares, Series 3
    (TSX: YPG.PR.C) 
    
--  Quarterly cash dividend of $0.43125 per first preferred shares, Series 5
    (TSX: YPG.PR.D) 
    

The quarterly cash dividend payments are payable on September 28, 2010 to shareholders of record at the close of business on September 14, 2010.

The dividends 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.

About Yellow Media Inc.

Yellow Media Inc., a subsidiary of Yellow Pages Income Fund, owns Yellow Pages Group and Trader Corporation. Yellow Pages Group (YPG) is Canada's leading performance media and marketing solutions company. The Company brings consumers and businesses together locally through its network of print, digital and mobile properties. YPG enables consumers to make smarter decisions, helping people find what they need wherever and whenever. YPG partners with businesses to build successful marketing and lead generation programs, helping them grow their business. Trader Corporation (Trader) is a leader in print and digital vertical media and offers a broad set of services such as inventory management, web solutions, optimization of media spend, and lead generation campaigns. Trader caters to the automotive, real estate and generalist verticals. Yellow Media Inc. owns and operates some of Canada's leading properties and publications including Yellow Pages(TM) directories, www.YellowPages.ca(TM), www.Canada411.ca(TM), www.Auto Trader(TM)(.ca), www.Home Trader(TM)(.ca), and www.LesPAC.com. For more information, www.ypg.com. annie.marsolais@ypg.com