1. Our Second Century of Success Marc P. Tellier President and CEO

2. YELLOW PAGES™ 2.0 Our second century of success Our emergence as an online force Our commitment to a 'new' YPG for CMR's  Listen closely  Provide more tools and resources to get the job done  Drive customer-generated success

3. DIRECTORIES TWO NATIONAL PLATFORMS VERTICAL MEDIA

4. TO FIND THE BEST SELLER FOR EACH BUYER OUR MISSION

5. THE YELLOW PAGES BRAND IS EVOLVING FOR THE FUTURE FOR NEW AUDIENCES IN NEWS WAYS OUR MISSION

6. EXPANDING THE DIRECTORY CATEGORY

7. Traditional media has suffered Specialty and new media forms are on the rise Clear shift to electronic media THE MEDIA LANDSCAPE

8. THE DIRECTORY CATEGORY IS GROWING 76% of Canadians refer to a print or online directory each month 66% of users make a purchase as a result 54% of purchasers are new customers for the advertiser Ad Hoc Research, 2005 Canadian Usage Study

9. STRONG AND STABLE INCREASING USAGE OF PRINT DIRECTORIES: USAGE OF ONLINE DIRECTORIES:

10. Print IYP ORGANIC GROWTH Print IYP Users Advertisers

11. Print IYP ORGANIC GROWTH Print IYP Users Advertisers

12. Brand/ Distribution Leads/ Media Mix Users Advertisers Print IYP Content ORGANIC GROWTH Print IYP

13. Residential & Business Listings Display Ads Print IYP Customer Profile Keywords ORGANIC GROWTH Brand/ Distribution Leads/ Media Mix Users Advertisers Content Print IYP

14. Directories: virtually every home and business MSN Sympatico Google Yahoo Residential & Business Listings Display Ads Print IYP Customer Profile Keywords ORGANIC GROWTH Brand/ Distribution Leads/ Media Mix Users Advertisers Content Print IYP

15. PrintIYP Wireless Residential & Business Listings Display Ads Print IYP Customer Profile Keywords ORGANIC GROWTH Brand/ Distribution Leads/ Media Mix Users Advertisers Content Vertical Publications Print IYP Directories: virtually every home and business Yahoo MSN Sympatico Google Neighbor- hood

16. OPERATIONAL EXCELLENCE FOCUS ON CUSTOMER RELATIONSHIP MANAGEMENT EXPANSION OF THE DIRECTORY CATEGORY 2006 PRIORITIES

17. CUSTOMER RELATIONSHIP MANAGEMENT CUSTOMER FIRST PROJECT

18. STANDARDIZATION ACROSS CANADA NATIONAL AND REGIONAL ADVERTISERS