yellow pages monitor (issue 5, june 2009)

© Heernet Ventures Limited. All Rights Reserved

Yellow Pages Industry Monitor

| Fortnightly newsletter on the Yellow Pages industry | Issue No. 5, Published 15th June 2009 | Published by Heernet Ventures Limited (heernet.com) |

News � Microsoft launches new search engine, Bing.com

� Yellow Pages Singapore plans rights issue

� Eniro AB is de-listed from OMX Stockholm 30 Index

� Multiplied Media Corporation plans to acquire UnoMobi Group

� Yell Group appoints new Chairman

� Local.com forms partnership with The Press Enterprise

Data � Share price performance

� Deal sheet (Feb - May 09)

Advisory services

Heernet Ventures publishes this newsletter as part of its research coverage of the yellow pages industry. You can access more research on the yellow pages industry from our research website at G2Mi.com.

If you are a media company or financial investor seeking market or company analysis on the yellow pages industry, we can assist you. With dedicated research analysts based in both Europe and Asia, we are well placed to provide ‘on the ground’ assistance and support in most countries.

Over the last five years, we have worked on a number of advisory assignments in the industry on areas such as growth strategy, product benchmarking, competitor intelligence and acquisition search.

For an initial discussion, contact Harjinder Singh-Heer on +44 (0) 208 180 7223 or by email on [email protected].


News

Microsoft launches a new search engine

Date 1st June, 2009

Microsoft has launched its heavily anticipated new search engine, Bing.com. Initially launched in the USA and Canada, the search engine will replace Microsoft Live Search.

Bing.com’s search focuses on four areas (Travel search, Health search, Shopping and Local search). On Bing.com the search results split into the logical categories instead of on popularity. The best match is placed at the top and information is highlighted; the objective of this to help users get to the right information more efficiently. For example, when searching for a restaurant in a specific location, Bing allows the user to refine the search by parking facility, pricing, reservations, atmosphere, reviews and directions of the restaurants’ location.

Yellow Pages Singapore plans to raise S$59 million

Date 2nd June, 2009

The Singapore-based directory publisher, Yellow Pages (Singapore) Ltd. plans to raise S$ 59 million through a rights issue. Existing shareholders will get five shares and two warrants for every two shares they hold. The warrants would be issued free. In the last financial year (end March 2009), the company generated revenue of S$ 59.8 million and Net profit of S$ 15.2 million.

Eniro AB is de-listed from OMX Stockholm 30 Index

Date 3rd June, 2009

According to NASDAQ OMX Nordic, Eniro AB has been de-listed from OMX Stockholm 30 Index.

Multiplied Media Corporation plans to acquire UnoMobi Group

Date 4th June, 2009

Multiplied Media Corporation plans to acquire UnoMobi Group. UnoMobi offers e-mail services on GPS-enabled wireless handsets; it also has technology for sending coupons and other transaction-based messages to users based on their profiles and location. Multiplied Media Corporation Group is a mobile local search service provider based in Canada.

Yell Group appoints a new chairman

Date 9th June, 2009

Yell Group appointed Bob Wigley, as its new chairman. Previously, Bob Wigley was the Chairman of Merrill Lynch Europe, Africa and the Middle East.

Local.com forms partnership with The Press Enterprise

Date 10th June, 2009

The US-based online local search company, local.com has formed a partnership with The Press Enterprise to provide local search on pe.com. The Press Enterprise is a subsidiary of A.H. Belo Corp., a leading newspaper publisher in Southern California.


Share price data

Company name Reuters Code

Bloomberg Code

Currency Current price

% Change

1 mth 6 mth 12 mth

Eniro AB ENIRO.ST ENRO.SS SEK 8.45 9.8% 59.6% -34.0%

Pages Jaunes PAJ.PA PAJ.FP EUR 8.15 -1.4% 11.6% -24.9%

Seat Pagine Gialle PGIT.MI PG:IM EUR 0.20 -5.6% -55.2% -70.2%

Telegate TGTG.DE TGT:GR EUR 7.79 -7.6% 18.0% -33.0%

Yell Group YELL.L YELL:LN GBP 40.25 -12.0% 8.1% -55.5%

Yellow Pages Income Fund YLO_u.TO YLO-U:CN CAD 5.43 -12.7% -12.7% -43.7%

Yellow Pages (Singapore) YELP.SI YPG:SP SGD 0.46 43.7% 148.6% -37.8%

Date updated: 12th June 2009


News

A summary of key deals and joint ventures over the previous 3 month period.

Date Sub Sector Investor Investee Terms Details

June 2009 Mobile local search

Multiplied Media UnoMobi Group NA Multiplied Media Corporation Group is a mobile local search service provider in Calgary. UnoMobi is a mobile software company.

April 2009 Directories LocalTel Shamrock Media Incorporated

NA LocalTel, a directory publisheracquired Shamrock Media Incorporated, a directory publisher

March 2009 Directories Eniro AB Oreo AB SEK 6.6 million The Swedish search and directory services company Eniro AB acquired Oreo AB, a local public procurement service company.

March 2009 Directories Yellow Pages (Singapore)

Insis (IE Singapore holdings)

US$ 6.0 million Yellow pages (singapore) acquired stake in Insis, a wholly owned subsidiary of IE Singapore holdings.

February 2009 Directories Yellow Pages New Zealand

APN News and Media Ltd

N.A. APN news and Media disinvested its online business directory FindA.co.nz of newZealand to yellow pages newZealand.

February 2009 Directories Helion Venture Partners

GETIT Infoservices (P) Ltd

Rs 200 million Helion Venture Partners invested in GETIT Infoservices (p) Ltd, yellow pages and directories publisher to expand GETIT's services across the country.


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yellow pages monitor (issue 5, june 2009)

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