MONTREAL, QUEBEC--(MARKET WIRE)--Aug 7, 2008 -- Yellow Pages Income Fund (Toronto:YLO-UN.TO - News) announced today that its monthly cash distribution of $0.09750 per Fund unit will be paid on September 15, 2008 to unitholders of record at the close of business on August 29, 2008.

This cash distribution covering the period from August 1, 2008 to August 31, 2008, is in accordance with the August 7, 2008 press release announcing the increase in cash distributions to unitholders by 3.5% from $1.13 to $1.17 annually.

About Yellow Pages Income Fund

Yellow Pages Income Fund indirectly holds an approximate 98% ownership interest in Yellow Pages Group and Trader Corporation. Yellow Pages Group is Canada's leading local commercial search provider. It publishes annually more than 340 Yellow Pages(TM) and residential directories. The Company owns and manages Canada's most visited online directories, YellowPages.ca(TM) and Canada411.ca, as well as CanadaPlus.ca(TM), a network of seven local city sites. Trader Corporation is a Canadian leader in print and online vertical media with approximately 200 publications and 20 web sites covering four product verticals: automotive, real estate, general merchandise and employment. Its main brands include Auto Trader(TM), Auto Hebdo(TM), The Bargain Finder(TM), Buy&Sell(TM), Renters News(TM) and Home Renters' Guide(TM). For more information about the Fund, visit www.ypg.com.

     Contacts:
     Investor Relations:
     Yellow Pages Income Fund
     Anne-Sophie Roy
     Senior Manager, Corporate Finance
     514-934-2828
     anne-sophie.roy@ypg.com
      
     Media:
     Yellow Pages Income Fund
     Annie Marsolais
     Director, Corporate Communications
     514-934-4016
     annie.marsolais@ypg.com