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									2008 Supplier Forum

  Fiona Skinner
Head of Purchasing
3 things we need to get right
in 2008
• Driving usage
• Development New Media revenues
• Retaining our print advertisers
Principles underpinning our goals

• Fast
• Focused
• Effective

• Group Performance          Danny Sheenan

• Corporate Responsibility   Howard Rubenstein

• Market Development         Clodagh Ward

• Keynote address            John Satchwell

• Supplier Awards 2008
2008 Supplier Forum
Financial Review
    Danny Sheehan
Group Financial Controller
Financial Review

• FY08 Preliminary Results

• What has happened to the
  share price?

During this presentation we will be discussing Yell’s business outlook
and making certain forward-looking statements. Any statements
that are not historical facts are subject to a number of risks and
uncertainties, and actual results may differ materially.
We urge you to read the Risk Factors and cautionary language in
the annual report posted on our website.
We also draw your attention to our press release which is posted on
our website, for more information on the risks and uncertainties.
FY 08 headline results
                                                                                                              Growth at
Year ended 31 March 2008 (£m)                                               Actual              Growth       constant FX
Revenue                                                                         2,218.7            6.9%         8.5%
Adjusted EBITDA                                                              738.9                 9.1%        10.1%
Adjusted EBITDA margin                                                        33.3%
Operating cash flow                                                          626.2                15.6%        16.5%
Cash conversion                                                               84.7%

Free cash flow before refinancing cost                                      293.8                 16.5%
and exceptionals

Underlying adjusted diluted earnings per share                                37.8p                            10.5%

Total dividends per share                                                     12.0p               (30%)

   Adjusted earnings figures stated before exceptional items and amortisation throughout this presentation
The Yell Group

          FY 08 revenue                            FY 08 EBITDA
  Yell Publicidad                       Yell Publicidad
  22%                                   25%

                          Yellow Book                             Yellow Book
                          USA 45%                                 USA 40%

     Yell UK                             Yell UK
       33%                                 35%

   Organic revenue up 2.5%                EBITDA margin 33.3%

               Cash conversion 85% of EBITDA
Yell’s online usage growing
           Unique users                        Unique visitors                          Unique visitors
            (millions)                           (millions)                               (millions)

                         8.5                                 13.5

            6.2                                  10.4
  Up 37%

                                   Up 30%

                                                                          Up 10%
           Source: ABCe   network from   network OJD

               Rapid growth in Yell’s online usage
Print usage – high ROI for advertisers

      UK usage occasions                                  US usage                                  Spain average
      monthly average (m)                            references pa (bn)                            monthly users (m)
      Internet       Print

  • 87% of US population used print in 2007
  • 62% of those who shopped online also used print in the US
  • Searches for unknown businesses up 9% in the UK
  • Average £25 of new business for every £1 invested in the UK
  • 8 out of 10 searches resulted in a contact to an advertiser in Spain

 Sources: UK: Regular Study Saville Rossiter-Base. YP comparable inc US: KN/SRI (YPA) and comScore. Spain: GFK and Yell.
          Used Spanish print classified directories monthly in past 12 months (%)
UK revenue drivers – win, keep
and grow
                  Total unique advertisers           Print ARPA and online
                   live at 31 March (000s)                  RASA* (£)

            499              492              486

             76              75              74       -2.9           -2.8        -3.3
                     Print retention %              Effective Yellow Pages price
                                                     reduction % (print only)

           Online ‘as well as’ rather than ‘instead of’
* RASA: Revenue per average searchable advertiser
Yellowbook USA – not an incumbent

• Fastest growth IYP                                                                        Unique online visitors (m)
     • Potential to monetise usage
• Print usage growing
     • Average print usage in 49 recent
       markets surveyed 38%**
     • 23% across the US – up from 20%
       in 05*
     • ‘ Leads for less’
• Brand awareness                                                                             Unique visitors growth
• Entrepreneurial sales approach                                                             March 08 vs Dec 07 (%)

• National footprint
     • National revenue growing
       rapidly – faster than average

                                                                              Source: comScore December 07 and March 08
  * Knowledge Networks/SRI - Based on all measured YPMR DDAs in 2005 (21,000+ interviews/ 161 DDAs) versus 2007 (32,000+ invterviews / 190
    DDAs. ** 2007 YPMR Syndicated Usage - KN/SRI
Paginas Amarillas win, keep
and grow
    Unique advertisers (000s)   Print ARPA and online RASA (€)

    Print retention %

  Unbundling to generate future ARPA growth
2008 Supplier Forum
Governance and Responsibility
           Howard Rubenstein
  Company Secretary and General Counsel
Our Vision

 To provide our shareholders and other
 stakeholders with confidence that Yell
 is a well-managed and responsible
Our Stakeholders

• Our Investors

• Our People

• Our Suppliers and Business Partners

• Our Communities
Yell’s Corporate Responsibility
• Leading ethical behaviour
• Taking responsibility for our
  environmental impacts – paper and
  non paper
• Supporting local enterprise
• Supporting local communities – via our
  Champions Network
Building a responsible future

• Ethical Purchasing Guidelines
• Sharing best practice on
  environmental issues
• Help us to reduce our CO2 emissions
• Give us your ideas for our enterprise
2008 Supplier Forum
Marketing at Yell
       Clodagh Ward
      Printed Product &
Consumer Development Manager
Printed Products
Consumers told us that they
wanted the book to be….
• Brand new engaging
  local consumer content
• More contemporary look
  and feel
• Modernised classification
  and search tools
Better Consumer Content

• gives people a
  reason to keep
  the book
• to come back
  again and again
• …make the most
  of their local
New Look & Feel

 Softer sentence case

                                                                                                               New message in
 A-Z tabbing                                                                                                   running header
 87% consumers thought
 alphabetical tabbing
 would make the directory
 easier to use*
                                                                                                              Reduced yellow

 New header design
 & page number guide

                                                                                                              tip format

 Page frame

  * Source: FDS 2006-07   Results shown are based on past research and are no guarantee of future behaviour
We have developed more
relevant and exciting ad types

                           White Knock Out
                           on Semi Displays

  Menu Adverts       Coupons
Your Town – Strategic positioning

• Enter new markets with new products
• Drive new usage occasions from
  new users
• Introduce new advertising from
  new advertisers
• To compete more effectively in the
  truly local advertising market, a space
  still dominated by local press
  and other print titles
• To offer an alternative printed Yell
  product to counter the common
  Yellow Pages objections of price
  and coverage
Your Town – Key findings

• 14 editions successfully launched to
• Ratio of two-thirds new prospects,
  one-third existing customers
• Minimal substitution/cannibalisation
  of the core product
• Coupons have proved to be an
  attractive YT proposition
• Initial User research very encouraging
The Insurance Directory from
Yellow Pages
• Taking the trusted and high quality
  Yellow Pages brand into a
  complementary category
• Launched to Sales at the end of April,
  with the 1st edition distributed in
  August 2008
• An A5 24 page out of book themed
  guide, featuring 16 pages of
  advertisements and 8 content pages
• Delivered by Royal Mail to 44 million
  households throughout the course of
  the year a growing success story ! usage action plan

Changes to the site
• New look site launched in November
• Major focus on Search Engine Optimisation
• Increasing user interaction
• Exploding the level of content - user generated content from Q3
• New maps launched December, more to come on locality and maps
• Continue to increase agility and deliver faster

Communications and networks
• Search Engine Marketing spend increased and optimised
• Significant weight of A&P behind
• Usage networks, strengthening resource from May

We’ve re-designed the site. A new
home page launched in November…
New “hub” pages as a first step into
experience – these include Location

                           Place for new content
                              around locations

                           Encourages links and

                              Great for users
                                and SEO!

                       Same idea for

                  Potential for sponsorship
                    from major players

                    Also, great for users
                          and SEO!
New commercial models
netReach proposition

• Ad. Syndication product           Distribution on + network
  launched December 07              of partner sites:
• Increases internet reach for
  our advertisers
• Revenue and
  complementary content from
  a trusted brand for our partner
• A new virtuous circle
• Adverts displayed when
  relevant, based on location
                                    Selected verticals, local sites
  and context
                                    and search engines
netReach in action
Example of an ad capsule from advertisers
displayed on a relevant partner site
Coming Soon

 The Yell Partner Network

              …and many more joining each week
Advertising support

          Activity ran:
          14 - 27 Jan
          25 Feb – 9 Mar
          24 Mar – 6 Apr – only

• Tactical radio for Valentine’s day,
  Easter and Mother’s day

• Core radio cementing the family
C4 Sponsorship
Future Plans

• Print – Refresh and optimise opportunities in
  Yellow Pages
• Print – Continue to develop out of book
• – Keep on growing usage
• New models – More and more development
• Advertising – Exciting, modern communication
  of our brands
2008 Supplier Forum
Key Note Speech
   John Satchwell
  Operations Director
2008 Supplier Forum
Supplier Recognition Awards
Supplier Recognition Awards

• Awards Overview
• Categories
  • Service Excellence
  • Continuous Improvement & Innovation
Service Excellence Award

• Short-list
  • BPH Data Limited
  • Chemistry Recruitment
  • Deloitte & Touche LLP
  • Lyreco UK Limited
  • Vizuri Limited
Service Excellence Award

        Runner up
Service Excellence Award
Service Excellence Award

Service Excellence Award
Continuous Improvement &
Innovation Award
• Short-list
  • Bluefin Solutions Limited
  • Deloitte & Touche LLP
  • Lane4 Management Group Limited
  • The Portal Partnership Limited
  • UPM-Kymmene Corporation
Continuous Improvement &
Innovation Award

        Runner up
Continuous Improvement &
Innovation Award
Continuous Improvement &
Innovation Award

Continuous Improvement &
Innovation Award
Keynote Address
   John Satchwell
• Thank you for joining us at the 2008 Supplier
• Our suppliers are very important to us and
  we value the relationship we have with you.
• We have some challenging times ahead
  and we are looking for your support during
  these times.
• We congratulate the first winners of our
  Supplier Awards.
2008 Supplier Forum

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