RNS Number:9315T
Yell Group plc
07 January 2004

7 JANUARY 2004


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO OR IN THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN


APAX PARTNERS AND HICKS, MUSE, TATE & FURST INC. AND YELL GROUP PLC


RESULT OF PLACING OF ORDINARY SHARES IN YELL GROUP PLC ("YELL")


Further to yesterday's announcement, Apax Partners and Hicks, Muse, Tate & Furst
Inc. confirm that funds managed or advised by them have today sold their entire
holdings of shares in Yell at a price of 303 pence per share, a discount of 1.5%
to the previous day's close. Goldman Sachs and Merrill Lynch have placed a total
of 238,052,246 shares in Yell, representing 34.2% of the issued share capital,
raising proceeds of approximately #720 million (the "Placing").


John Condron, Chief Executive Officer of Yell, said:


"We are extremely pleased with the strength of institutional demand for Yell
shares and look forward to creating further value for our new and existing
shareholders."

Enquiries:

Goldman Sachs International                            Tel: +44 (0)20 7774 1000

Tim Bunting

Simon Dingemans

Merrill Lynch International                            Tel: +44 (0)20 7628 1000

Bob Wigley

Rupert Hume-Kendall

Yell Group plc



Investors
Jill Sherratt
Tel           +44 (0)118 950 6984
Mobile        +44 (0)7764 879808


Media
Richard Duggleby
Tel:          +44 (0)118 950 6206
Mobile:       +44 (0)7860 733488
Jon Salmon
Tel:          +44 (0)118 950 6656
Mobile:       +44 (0)7801 977340
Citigate Dewe Rogerson


Anthony Carlisle
Tel :         +44 (0)20 7638 9571
Mobile:       +44 (0)7973 611888



This announcement has been issued by Apax Partners and Hicks, Muse, Tate & Furst
Inc. and Yell and is the sole responsibility of Apax Partners and Hicks, Muse,
Tate & Furst Inc and Yell. This announcement is for information purposes only
and neither it nor the information contained herein constitutes an offer of
securities for sale, or an invitation to acquire or dispose of any securities,
in the United States or in any jurisdiction in which such an offer or invitation
is unlawful. The shares which are the subject of the Placing have not been and
will not be registered under the U.S. Securities Act of 1933 (the "Securities
Act") and may not be offered or sold in the United States absent registration or
an exemption from registration. Any public offering of securities to be made in
the United States will be made by means of a prospectus that may be obtained
from the issuer or selling security holders and that will contain detailed
information about Yell and management, as well as financial statements. None of
Apax Partners, Hicks, Muse, Tate & Furst Inc. or Yell intends to register any
portion of the Placing in the United States or to conduct a public offering of
shares in the United States.


The information contained herein is not for publication or distribution to
persons in the United States. No public offering of the shares referred to
herein will be made in the United States, the United Kingdom or elsewhere.


Goldman Sachs and Merrill Lynch are acting for Apax Partners and Hicks, Muse,
Tate & Furst Inc. in connection with the Placing and no one else and will not be
responsible to anyone other than Apax Partners and Hicks, Muse, Tate & Furst
Inc. for providing the protections offered to their clients nor for providing
advice in relation to the above transaction.

In connection with the Placing, Merrill Lynch International will act as
stabilising manager and, as such, Merrill Lynch International or any person
acting for Merrill Lynch International as stabilising manager may, in connection
with the Placing, over-allot or effect transactions with a view to supporting
the market price of the ordinary shares in Yell at a level higher than that
which might otherwise prevail for a limited period after the Placing. However,
there will be no obligation on Merrill Lynch or any agent of Merrill Lynch to do
this. Such stabilising, if commenced, may be discontinued at any time and must
be brought to an end after a limited period. Stabilisation / FSA.


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

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