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Yellow Media Inc. Announces April 2011 Dividend

Montreal (Quebec), April 15, 2011 – Yellow Media Inc. (TSX: YLO) announced today the approval of its dividend for the month of April 2011 on the Corporation’s outstanding common shares.

A dividend of $0.0542 per common share will be paid on May 16, 2011 to shareholders of record at the close of business on April 29, 2011. The dividend is designated as an eligible dividend for Canadian income tax purposes.

Dividend Reinvestment Plan
Under the Corporation’s Dividend Reinvestment Plan (the “Plan”), shareholders who are residents of Canada may elect to have their cash dividends paid on their common shares reinvested into additional common shares of the Corporation. At this time, for purposes of dividends reinvested under the Plan, the Corporation will issue new common shares at a 5% discount from the average market price (as defined under the Plan) of the common shares on the dividend payment date.

Eligible shareholders who wish to participate in the Plan should contact the financial institution, broker or other intermediary through which their common shares are held to provide appropriate enrolment instructions and to ensure that any deadlines or other requirements that such financial institution, broker or intermediary may impose or be subject to are met.

About Yellow Media Inc.
Yellow Media Inc. (TSX: YLO) is Canada’s #1 Internet company through its network of companies that include Yellow Pages Group, Trader Corporation and Canpages. Yellow Media Inc. owns and operates some of Canada’s leading properties and publications including Yellow Pages™ directories, YellowPages.ca™ , Canada411.ca™ , AutoTrader.ca™ , Autos.ca , RedFlagDeals.com , and LesPAC.com . Its online destinations reach over 11M unique visitors monthly and its mobile applications for finding local businesses, deals and vehicles have been downloaded over 2M times. Yellow Media Inc. is also a leader in national digital advertising through Mediative , a digital advertising and marketing solutions provider to national agencies and advertisers. For more information, visit corporate.yp.ca .

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Contacts

Médias
Annie Marsolais
Directrice - Communications
Tél. : (514) 934-4016
annie.marsolais@ypg.com

Relations avec les investisseurs
Anne-Sophie Roy
Directrice générale - Finances de l’entreprise
et relations avec les investisseurs
Tél. : (514) 934-2828
anne-sophie.roy@ypg.com

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