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Yellow Media Inc. announces changes to its Board of Directors

Montréal (Québec), December 22, 2011 — Yellow Media Inc. today announced that Dr. Heather Munroe-Blum and Stuart H.B. Smith are stepping down as Directors of Yellow Media Inc., effective on December 23 and 31, 2011 respectively. Both Ms. Munroe-Blum and Mr. Smith are stepping down as Directors in order to focus on their other professional engagements and career interests. In particular, Mr. Smith has recently been appointed as full-time Executive Chairman and Acting CEO of Altus Group Limited.

“On behalf of Yellow Media and its Board of Directors, we wish to thank Heather and Stuart for their devoted service and sound counsel, and we wish them the very best,” said Marc L. Reisch, Chairman, Yellow Media Inc. “On behalf of the Yellow Media management team, we extend our sincere gratitude to Heather and Stuart for their important contributions to the Company,” said Marc P. Tellier, President and Chief Executive Officer of Yellow Pages Group.

Yellow Media also today announced that Michael R. Lambert has agreed to join the Audit Committee, replacing Mr. Smith. Mr. Lambert has served on the Board of Directors of Yellow Media since 2004 and brings more than 30 years of financial experience to the Committee. Mr. Lambert is currently Senior Vice-President and CFO of Parkland Fuel Corporation and has previously held senior financial positions with major public companies including The Forzani Group Ltd. and Canadian Pacific Railway. In addition to his extensive financial background, Mr. Lambert is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of Windsor.

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 and Canpages. Yellow Media Inc. owns and operates some of Canada’s leading properties and publications including Yellow Pages™ directories,™ ,™ and . Its online destinations reach approximately 9 million unique visitors monthly and its mobile applications for finding local businesses and deals have been downloaded over 3 million 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 .

*Yellow Pages Group, YellowPages, Canpages, Canada411, RedFlagDeals are registered trademarks of Yellow Media Inc.

Anne-Sophie Roy
Tel.: (514) 934-2828

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