| Leading Independent Yellow Pages Publisher Completes Purchase, Solidifies National Footprint
UNIONDALE, NY (July 15, 2005) - Yellow Book USA, part of Yell Group plc, announced today that it has completed its acquisition of TransWestern Publishing. The purchase, at $1.575 billion, combines two of the nation's leading independent - non-telephone company affiliated - publishers of yellow pages. TransWestern Publishing complements Yellow Book's footprint by adding directories in the Northwest, West, and Southwest regions. TransWestern is particularly strong in California and Texas. Yellow Book will now employ a sales force of over 6,000 to publish approximately 900 directories coast-to-coast, with a circulation of over 100 million.
"We are pleased to have completed this acquisition, which will allow us to leverage Yellow Book's nationally-recognized brand, product expertise, and publishing resources in the regions that TransWestern Publishing has served so well over the years," said Joe Walsh, President and CEO of Yellow Book USA.
In completing the agreement to acquire TransWestern Publishing, Yellow Book expands its footprint into 46 states, plus the District of Columbia. The company has grown rapidly in recent years by offering small and medium-sized businesses print and online advertising that delivers leads at advertising rates up to 50% less than those charged by the phone company publishers for similar levels of advertising.
"Yellow Book's coast-to-coast footprint makes it the first true national yellow pages since the breakup of AT&T," said Walsh. "This is a great day for consumers and local businesses. Yellow Book has succeeded by delivering the depth in local buying information that consumers want and the strong return on investment that advertisers demand."
In acquiring TransWestern Publishing, Yellow Book also acquires Worldpages.com, TransWestern's successful online business. Yellow Book's popular online site, www.yellowbook.com offers users well over half a million advertisements from local businesses across the U.S., a number that will grow with the added content offered by Worldpages.com.
About Yellow Book USA:
Established in 1930, Yellow Book USA is the oldest and largest independent yellow pages publisher in the nation. In recent years, Yellow Book has made a number of strategic acquisitions and entered scores of new markets. With this acquisition, Yellow Book will publish approximately 900 directories in 46 states, plus the District of Columbia with a distribution of over 100 million directories. Visit the Yellow Book company website at www.yellowbook.com.
About TransWestern Publishing:
TransWestern Publishing, a leading independent publisher of yellow pages in the United States, publishes 332 directories in 25 states. Since its formation in 1980, the company has grown revenue, accounts, and profitability organically and through a series of strategic acquisitions.
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