TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii

Yell Group PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

X

Other (please specify):

3. Full name of person(s) subject to the
notification obligation: iii

Jupiter Asset Management Limited ('Jupiter')

4. Full name of shareholder(s) 
 (if different from 3.):iv

5. Date of the transaction and date on
which the threshold is crossed or
reached: v

30 November 2009

6. Date on which issuer notified:

1 December 2009

7. Threshold(s) that is/are crossed or
reached: vi, vii

7% - 2%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

GB0031718066

58,253,951

58,253,951

0

0

58,253,951

0

2.47%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date xiii

Exercise/ 
Conversion Period xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

n/a

n/a

n/a

n/a

n/a

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

n/a

n/a

n/a

n/a

n/a

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

58,253,951

2.47%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

The shares will appear on the register in the following names:

Nortrust Nominees Limited - 57,395,010

Mellon Nominees (UK) Limited - 817,323

HSBC Global Custody Nominees (UK) Limited - 41,618

Of the 58,253,951 shares held by Jupiter, 49,603,567 are held on behalf of Jupiter's client, Jupiter Income Fund. 

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:

13. Additional information:

14. Contact name:

Shannon Craddock

15. Contact telephone number:

0207 314 4775

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in sharesxxii

A: Identity of the persons or legal entity subject to the notification obligation

Full name 

(including legal form of legal entities)

Jupiter Asset Management Limited

Contact address 

(registered office for legal entities)

1 Grosvenor Place, London SW1X 7JJ

Phone number & email

0207 412 0703

Other useful information 

(at least legal representative for legal persons)

B: Identity of the notifier, if applicable

Full name

Yell Group plc

Contact address

Queens Walk, Oxford Road, Reading, Berkshire, RG1 7PT

Phone number & email

01189 506501  Alison.Stanesby@yellgroup.com 

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

Due to a completion of comprehensive refinancing by Yell Group Plc

For notes on how to complete form TR-1 please see the FSA website.