Yellow Pages Publishers Report Record 2001 AD Revenue; Present Industry Forecast For 2002; Industry Results Hold Steady in Face of Economic Challenges.

Business Editors

BERKELEY HEIGHTS, N.J.--(BUSINESS WIRE)--Feb. 13, 2002

Total domestic Yellow Pages industry advertising revenue reached a record $13.6 billion in 2001, up from $13.2 billion in 2000, according to figures announced today by the Yellow Pages Research Institute (YPRI), the research unit of the Yellow Pages Publishers Association (YPPA). This represents growth of approximately 2.8 percent over the previous year.

"Although these numbers are slightly off the forecast made early in 2001, they show continued strength in a year during which most all other media suffered significant losses," noted Joel Raphael, acting director of the Research Institute.

The data is based on the aggregate results provided to the Institute by Yellow Pages publishers in the United States. It includes local and national spending in the more than 6,000 Yellow Pages directories published domestically.

"We are cautiously optimistic about these numbers in that, year-over-year, Yellow Pages media have maintained consistent growth during economic cycles in which other media have been affected significantly," said John A. Greco, Jr., President and CEO of YPPA. "Additionally, we expect the growth for Yellow Pages in 2002 to be in the range of 3.6 to 3.8 percent.

"This continues to reaffirm the significant role that Yellow Pages plays in the advertising mix - complementing and extending the effectiveness of other media, and serving as a critical component, if not a cornerstone, of the media mix," Greco added.

This forecast is based on a survey of the Yellow Pages industry.

About the YPPA

Founded in 1988, the Yellow Pages Publishers Association (YPPA) has been instrumental in leading, serving and growing a global print and electronic media industry valued at more than $25 billion.

The YPPA's members include Yellow Pages publishers, who produce more than 95 percent of all Yellow Pages print directories as well as leading-edge electronic products and who account for 98 percent of revenues generated in North America; the industry's international and national sales force, including certified marketing representatives who handle national accounts and complement publishers' extensive local sales forces; and associate members, who include various industry stakeholders such as vendors and suppliers to the industry - from paper producers to high-tech companies - as well as major Yellow Pages advertisers. The YPPA has members in more than 30 countries.

Kathy Harless, President of Verizon Information Services, serves as the Chair of the YPPA Board of Directors. Other board member companies include BellSouth Corporation, Qwest Dex, SBC Directory Operations, Bell ActiMedia and the Association for Directory Marketing. The YPPA is a member of U.S. Chamber of Commerce's Association Committee of 100.

The YPRI is a newly formed Research Institute dedicated to identifying trends in consumer and business decision-making. For more information, visit www.yppa.org, or contact the association at [phone].