RNS Number:4260O
Yell Group plc
07 August 2003

7 August 2003



                                 YELL GROUP PLC


                          OVER ALLOTMENT ARRANGEMENTS




Not for release, publication or distribution in, or into the United States,
Canada, Australia or Japan

            Announcement of Exercise of Over-Allotment Arrangements

Yell Group plc ("Yell" or the "Company") announces that in connection with the
initial public offering of the Company (the "Global Offer") Merrill Lynch
International, as stabilising manager, has given notice exercising, on behalf of
the Underwriters, the over-allotment arrangements in respect of 30.2 million
Ordinary Shares in the Company. None of the #86.1 million proceeds arising from
the exercise of the over-allotment arrangements will be received by Yell.
Including the exercise of the over-allotment arrangements, the total size of the
Global Offer was #1.23 billion (430.2 million Ordinary Shares).

Following the exercise of the over-allotment arrangements, funds managed or
advised by Apax Partners and Hicks, Muse, Tate and Furst will each hold
approximately 17% of Yell's Ordinary Shares, and management and employees will
hold approximately 4%. Investors in the Global Offer will own approximately 62%
of the Company's issued share capital.

This announcement, and the information contained herein, is not for publication,
distribution or release in, or into, the United States, Canada, Australia or
Japan. This announcement does not constitute or form part of an offer or
solicitation of an offer to purchase or subscribe for securities in the United
States, Canada, Australia or Japan.

Shares in Yell Group plc have not been and will not be registered under the US
Securities Act of 1933 as amended and have not and will not be offered or sold
in the United States absent registration or an exemption from registration. No
public offering of securities is being made in the United States.

Merrill Lynch International and Goldman Sachs International are acting for Yell
Group plc in relation to the Global Offer and no one else, and will not be
responsible to anyone other than Yell Group plc for providing the protections
afforded to their respective clients nor for providing any advice in relation to
the Global Offer.

The contents of this announcement, which have been prepared by and are the sole
responsibility of Yell Group plc, have been approved by Merrill Lynch
International, of Merrill Lynch Financial Centre, 2 King Edward Street, London
EC1A 1HQ, solely for the purposes of section 21(2)(b) of the Financial Services
and Markets Act 2000.



Merrill Lynch International

Bob Wigley, tel +44 (0) 20 7995 2194

Rupert Hume-Kendall, tel +44 (0) 20 7996 2441



Goldman Sachs International

Simon Dingemans, tel +44 (0) 20 7774 4615

Tim Bunting, tel +44 (0) 20 7774 5969






                      This information is provided by RNS
            The company news service from the London Stock Exchange
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