ypOne Launches 6 New Canadian Directories; Now Largest Independent Directory Publisher in Ontario; ypOne Continues Its Rapid Expansion in North America

The call counts continue to increase, year
over year, confirming that we are giving both consumers and
advertisers high value. Advertisers consistently find advertising in
ypOne directories to be a cost effective alternative generating
increased value and return on investment for their advertising
dollars.

About ypOne Publishing, LP

ypOne Publishing , LP (www.

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The Phone Guide has already begun its sales campaign, calling on
businesses in Ottawa , Halifax, Chatham, Elgin, and Sarnia. The
Brampton sales campaign begins in late May. The first London area PhoneGuide took on traditional phone
directories in late 1997 by offering unique features such as large
print, postal codes beside listings, community information, maps, and
talking pages.

Wireless carriers routinely provide directions, movie
start times and locations, search by Yellow Pages category or by location, and
weather reports for any city in the country.

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ypOne Canada Ltd .halyardcapital.4 billion.

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-based ypOne Publishing, today becomes the largest
independent directory publisher in Ontario with the launch of five new
Phone Guide yellow pages shopping directories in Ottawa, Brampton,
Chatham, Elgin, and Sarnia. We are clearly moving
closer to out goal of being the book of choice for all households and
businesses in Ontario.com) is a rapidly
growing mid -size North American publisher currently publishing 53
titles and distributing 3. The U.

centers consumer

, a London -based company formerly known as Southwestern
Publishing. The PhoneGuide acquired Access Pages in 2004.com or call 248-922-1501.

finder pages

"
The new Phone Guides will provide consumers with the same
content -rich features that users enjoy in other ypOne markets,
including full color city and area maps and community pages that
contain points of interest, community events, easy-to-find school
pages, and stadium seating charts.

Some wireless providers will
even make or change airline reservations for callers dialing 411.

About The Pierz Group
The Pierz Group provides detailed, actionable research and analysis, as
well as strategic consulting services on the key issues facing the greater
information services market.

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It was created
with input from carriers worldwide , making it the most complete and accurate
forecast available for the DA/DQ market.

Contact:
Kathleen Pierz
248-922-1501
kpierz@pierzgroup.

yellow consumer

"We are continuing to expand our business in North America.yponepublishing.
currently publishes 16 directory titles, and following this
announcement, that number will rise to 22.yponepublishing. In addition to management, ypOne Publishing, LP enjoys
equity sponsorship from Frontenac Company (www.frontenac. ypOne Publishing , LP continues to actively seek
expansion opportunities in both the U. Today there is a
growing number of enhanced services available through directory assistance in
the United States.

numbers oriented

com), the eastern Canadian communications and
entertainment provider. were calls to directory assistance.

finder records

"Today we are connecting buyers and sellers in these six markets
in a unique and powerful way," said ypOne President Erik Jensen. Ultimately, we
plan to publish directories from coast to coast.phoneguide . New forecast indicates American consumers are avid users of DA/DQ, with 55
billion U."
Finding the right phone number connects buyers and sellers, friends and
families, and routinely solves problems for consumers.

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Advertisers will benefit from the Phone Guide's wider scope to
match consumers ' shopping and travel patterns and a Call Measurement
System that proves the value of their ads by enabling them to track
and analyze calls generated by their ads.
In Halifax, ypOne has entered a unique co-branding partnership
with local communications and entertainment provider EastLink to
provide directories to all households and businesses in this market.
"This partnership enables us to combine the strength of our product
with the recognition of the EastLink brand and community presence,"
said Campbell.com

incorporating major

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About the PhoneGuide/ Access Pages

The PhoneGuide (www.8 million directories in the United States
and Canada., a 60
percent increase over 2005 revenues -- according to The Pierz Group's 2005
DA/DQ Global Market Forecast. When adding other sources of telephone number look-ups (such as print
directories, Internet Yellow Pages and search engines like Google and Yahoo!),
no other country looks up more phone numbers than the United States .

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S.
The Pierz Group's 2005 DA/DQ Global Market Forecast provides an in-depth
view of the key factors driving the DA/DQ market worldwide.

address enquiries

4
billion in 2010, an increase of 42 percent over 2005 revenues.

centers connected

"
Jensen said ypOne continues to plan for growth in new markets.
Other unique features of the new Phone Guides include
easy-to-search government pages, coupons, postal codes, larger print ,
golf and restaurant guides, and electronic yellow pages, which can be
found at www.
"We live in a communications intense culture," said Kathleen Pierz,
managing partner, The Pierz Group , LLC, an industry analyst firm specializing
in the global DA/DQ market.

major pages

S.
According to The Pierz Group forecast, Americans looked for phone numbers
over 43 billion times in 2004.

reference phone

The
expansion in Halifax is being undertaken in partnership with EastLink
(www.

About ypOne Canada Ltd

Doing business as Phone Guide/Access Pages, ypOne Canada Ltd.com) and
Halyard Capital Fund, (www . look-ups expected by 2010, generating revenues of $11. "The ability to quickly and easily obtain a phone
number is very important to anyone, but apparently even more so to Americans.

incorporating phone

currently
distributes 994,000 directories with distribution expected to increase
to 1,800,000. Six and a half billion of those phone number
look-ups in the U.

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eastlink. "Halifax is an especially exciting region for us and is
just the beginning of our expansion beyond Ontario.

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S.
Distribution of the new directories nearly doubles the size of the
company's distribution in Canada.

Worldwide Directory Assistance/Enquiry Revenues to Reach $26.2 Billion in 2010 According to The Pierz Group

share of this market will reach $11.

records enquiries

The company's chief investors are
Halyard Capital Fund of New York and Frontenac Company of Chicago. "This
announcement marks a milestone in our continuing expansion in Canada
and in our commitment to publish the most comprehensive directories in
the markets we serve.
"Our new directories present tremendous growth opportunities for
us in Ontario," said Campbell.
"PhoneGuide advertisers enjoy strong results from our
directories," said Campbell.ca) has been published in
Southwestern Ontario since 1997.

CLARKSTON, Mich.

192 phone

Publishing Writers

HOUSTON----ypOne Canada , a
subsidiary of U.
At the same time, the company is launching a new directory in
Halifax, Nova Scotia, marking its first venture in that province. It is distributed by ypOne Canada
Ltd.S . and Canada. In the United
States, consumers call directory assistance an average of 35 times per year
from a home, business or mobile phone, second only to the residents of
Reykjavik, Iceland who call directory assistance an average of 36 times per
year. The forecast features:

* 141 pages offering detailed views of each region and the market factors
behind the forecast through 2010
* Detail of the base of telephone subscribers by type, DA/DQ call volumes
by type of call, as well as DA/DQ revenue figures through 2010
* Insight into key changes historically as well as those that are forecast
to impact each market over the next five years
* Regional comparisons, highlighting the differences and similarities
between geographic areas
* 113 charts and tables

For more information regarding The Pierz Group's 2005 DA/DQ Global Market
Forecast, visit http://www.pierzgroup. Reports cover the issues and trends most likely
to influence current operations and future planning of Directory
Assistance/Enquiry services providers and the vendor community worldwide.

major address

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ypOne Canada, Ltd has been publishing directories in Southern
Ontario under its PhoneGuide brand for more than eight years.com), a member of BMO
Financial Group.

incorporating enquiries

The new books, nearly 1 million in total, will be delivered to
every home and business in these new markets beginning this fall. Gary Campbell, Director of
Canadian operations, is heading up the expansion effort. "These are strategic growth decisions
and the first of many planned expansion stages. "The
success that PhoneGuide has created is a direct result of delivering
yellow pages that consumers use and advertisers derive value,"
Campbell said. "Our Call Measurement System provides
advertisers with concrete proof that our books are delivering customer
calls to their businesses . There are currently 109 Canadian employees.S.

major oriented

"ypOne is a strong, growing, competitive directory publisher," said
Jensen.