TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

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

Yell Group plc

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

An acquisition or disposal of voting rights

yes

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

Other (please specify):

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

Invesco Limited

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

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

08 January 2010

6. Date on which issuer notified:

11 January 2010

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

22%, 23%

8. Notified details:

A: Voting rights attached to shares

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

Direct

Direct

Indirect

Direct

Indirect

 Ordinary 1 p shares

535,357,801

535,357,801

543,729,893

23.04%

 GB0031718066

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date

Exercise/ 
Conversion 
Period

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

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise 
price

Expiration 
date

Exercise/
Conversion 
period

Number of voting 
rights instrument 
refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

543,729,893

23.04%

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

 Bank of Ireland (Dublin) - 12,566,474

Bank of New York - 442,837,817

Bank Paribas - 2,770,233

Boston Safe Deposit - 2,381,405

Citibank (Hong Kong) - 4,577,208

JP Morgan Chase - 14,503,803

Citibank - 1,041,038

HSBC Nominees - 8,324,618

Mellon Bank, Pittsburgh - 2,157,973

State Street Trust & Banking Co (London) - 48,858,777

Trust & Custody Services - 148,064

Northern Trust Company (London) - 3,569,524

Invesco PowerShares Capital Management Limited - 583,997

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:

Elaine Coleman

15. Contact telephone number:

01491 417394

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

Full name (including legal form for legal entities)

Invesco Limited

Contact address (registered office for legal entities)

Phone number 

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 

  +44 (0) 118 950 6501

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

  N/A

C:    Additional information

N/A