Solocal is often held up as the global directory company that has most successfully transformed itself from traditional to digital. Therefore recruiting a top Solocal executive to run YPG should come as no surprise.

Montreal (Quebec), October 21, 2013 – Yellow Media Limited (TSX: Y) announced today the appointment of Julien Billot as President and CEO effective January 1, 2014.

Following a global search, Mr. Billot was selected due to his record of successfully leading digital transformations in traditional media companies, his accomplishments in generating digital revenue growth, and his knowledge and experience with global digital media industry trends in both web and mobile.

Mr. Billot brings over 20 years of experience in executive level positions within the global media industry, most recently at Solocal Group (formerly PagesJaunes Groupe), the incumbent local search business in France. During his tenure as Executive Vice-President and Head of the Media Group, total revenues from digital products grew from 35% to 58% with a demonstrated increase in digital product profitability margins.

He saw similar success as CEO of the digital and new business group of Lagardère Active where he grew the division’s global digital business, multiplying digital revenues for Lagardère Active six times over in a three year period. He also oversaw the successful acquisition and integration of several start-up businesses.

“We interviewed several highly-qualified candidates in Canada and from around the world. Our key focus was to identify a senior leader with experience in executing and delivering digital transformations, a deep understanding of the media industry as well as a keen knowledge of the challenges facing traditional local search enterprises,” said Robert MacLellan, Chairman of the Board of Directors of Yellow Media.

“A thorough interview process and an assessment by the entire Board have shown Julien to be an accomplished executive with proven ability to deliver on mandates, execute on established strategies and generate business revenue growth. Additionally, he’s also well-versed in leading comprehensive change initiatives across large-scale corporate cultures to successful completion,” continued McLellan.

“Yellow Media holds an iconic brand in Canada and has already successfully entrenched itself in the Canadian digital marketing landscape,” said Billot. “It’s an exciting period in this company’s history and I’m looking forward to working with the Board, management, employees and all other stakeholders to further the company’s digital transformation.”

Mr. Billot replaces Marc P. Tellier who left the company in August.

Please note that an analyst call will be held the week that Mr. Billot assumes his new role. Further information will be provided at a later time.

View Mr. Billot’s full biography or download photo.

About Yellow Media Limited Yellow Media Limited (TSX: Y) is a leading media and marketing solutions company in Canada. The Company owns and operates some of Canada's leading properties and publications including Yellow Pages™ print directories,YellowPages.ca™, Canada411.ca and RedFlagDeals.com™. Its online destinations reach 8.7 million unique visitors monthly and its mobile applications for finding local businesses and deals have been downloaded over 5.9 million times. Yellow Media Limited is also a leader in national digital advertising through Mediative, a digital advertising and marketing solutions provider to national agencies and advertisers.

Contacts

Media Fiona Story Senior Manager, Public Relations Tel.: (514) 934-2672 fiona.story@ypg.com

Investors Amanda Di Gironimo Senior Manager, Corporate Finance and nvestor Relations Tel.: (514) 934-2680 amanda.digironimo@ypg.com

BIOGRAPHY Julien Billot President and CEO

Julien Billot is an executive with extensive experience in the marketing, media and mobile industries, with a track record of successfully executing print to digital business transformations.  He is formerly Executive Vice‐President, Head of Media and Member of the Executive Committee of Solocal Group, (previously PagesJaunes Groupe), the publicly traded and incumbent local search business in France. Julien joined Solocal Group in 2009 overseeing its media properties, including web, mobile and print. His mandate was to stabilize the print product audience and to move the company’s digital transformation forward. In four years, under his leadership, total revenues from digital sources grew from 35% to 58% of total revenues as of the most recent fiscal year 2012. He also demonstrated a proven ability to increase digital product profitability margins. Julien also lead the launch and growth of Solocal tablet services as well as its mobile applications, which currently boast 24 million downloads. Additionally, he oversaw the successful integration of acquired start‐up businesses, Fine Media, 123 people, AvendreàLouer. Mr. Billot lead a similar transformation during his tenure as CEO of the digital and new business group of Lagardère Active, a multimedia branch of Lagardère Group holding brands such as Elle Magazine. Tasked with growing the division’s global digital business, in three years he multiplied digital revenues for Lagardère Active six times over. Julien also spent 13 years in senior management positions at France Telecom, notably as Chief Marketing Officer for Orange, the company’s mobile subsidiary, where he launched 3G services in France in 2004, including Mobile Television and sealed several Mobile Virtual Network Operator Partnerships (Télé2, M6 Mobile by Orange, Virgin Mobile). He also headed the delivery of Mass Market Orange France P&L representing 80% of Orange France revenues and EBITDA (€6 billion revenues, €3 billion EBITDA). Julien has also sat on the Board of Directors for leading media groups such as Sporever Group, Telekom Polska, Newsweb, Doctissimo, Le Monde Interactif, Lagardère Active, Relaxnews and Turf Editions. He was president of the Board of News Republic, a global news provider for mobile and a director for digital industry associations in France such as Mobile Marketing Association France, Fondation Télécom, Conseil Stratégique des TICs, and Prix des Technologies de l’Information. Mr. Billot is a graduate of École Polytechnique (Paris) and from Telecom Paris Tech. He also holds a postgraduate diploma (DEA) in Industrial Economics from the University of Paris‐Dauphine. A French citizen fluent in English, Mr. Billot is married and has one child. He is also an accomplished classical pianist, former rugby player and an avid tennis player.

INTRODUCTION

Solocal Group ranks #1 on local communication in France, with revenues of €1.07 billion in 2012. It employs  4,900 people in France, Spain, Luxembourg and Austria, including 2,300 sales advisers to support its 677,000 local and national advertising customers.

As a creator of useful media, Solocal Group operates in three complementary business lines: content and service provision, media and advertising representation. Thanks to its know-how and the performance of its brands, Solocal Group now occupies a leading position on the Internet:

• Leader in business website development, with over 135,000 already sold in France and Spain
• European leader in online advertising
• Benchmark provider of mapping services and Mappy
• Leader in mobile Internet, with over 22 million downloads of its PagesJaunes, Mappy and AnnoncesJaunes apps.

Solocal Group ranks among the key european players regarding the percentage of revenues generated on the Internet  :  €623 millions in 2012, 58% of its consolidated revenues.

Solocal Group is listed on NYSE Euronext Paris (LOCAL).

SoLocal Group Notes:

Confirmed commitment to suspend dividend distribution until net debt reaches a

level corresponding to 3x GOM (Note that YPG's debt is around 1.3x)

http://www.solocalgroup.com/sites/default/files/documents/Investor_Presentation_Sept_2013.pdf

total net debt 1628M Euros

net debt to EBITDA/GOM = 3.63x

2013 GOM/EBITDA = 425-445M Euro

Refinancing concluded end 2012 thanks to an almost unanimous agreement from

lenders to extend debt maturity to September 2015

 2015 debt refinancing options under review by the Group and its Board of

Directors