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Dex Media Announces Advertising Content Agreement With Yahoo!, Inc.

DENVER, May 2, 2005 /PRNewswire-FirstCall via COMTEX/ -- Dex Media, Inc. (NYSE: DEX) today announced an agreement with Yahoo! Inc. that will extend the reach of Dex advertisers to millions of users who visit Yahoo!(R) Yellow Pages and Yahoo! Local each month. Yahoo! users looking for local products and services will gain access to rich business content from thousands of local businesses that currently advertise with Dex.

"This relationship will give Dex advertisers greater exposure and Yahoo! users an even more comprehensive local search experience," said George Burnett, president and CEO of Dex Media. "We look forward to working with Yahoo!, a leading global brand, to help advertisers and consumers connect."

Today's announcement represents a significant milestone in the expansion of Dex's digital network. "With this relationship, we continue to extend the distribution of our print content," said Burnett. "Our goal is to help advertisers reach consumers wherever they are looking -- in the print directory, DexOnline.com(TM) and across Dex's digital network, which now includes Yahoo! local platforms."

In teaming with Yahoo!, Dex will extend its local advertiser content to yet another digital platform. Currently, businesses that purchase Dex print advertising also receive placement on DexOnline.com, one of the leading providers of Internet Yellow Pages within Dex's 14-state region. This content will now be made available on Dex's growing digital network, which includes Yahoo! Yellow Pages and Yahoo! Local.

"This relationship marries our respective strengths -- Yahoo!'s vast audience, brand leadership and exceptional consumer experience with Dex's rich local content and experienced local sales channel," said Paul Levine, vice president and general manager of Local for Yahoo!. "Yahoo! is committed to providing the consumer with the most relevant, comprehensive local information and we believe this agreement with Dex helps us do just that."

About Dex Media, Inc.

Dex Media, Inc., is the exclusive publisher of the official White and Yellow Pages for Qwest Communications International Inc. In 2004, the company published 44.5 million copies of 269 directories in Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming. In addition to connecting advertisers and consumers through its print and CD-ROM directories, Dex Media provides fully searchable advertising on DexOnline.com(TM), the most used Internet Yellow Pages in Dex Media's 14-state region, according to market research firm comScore.

In 2004, Dex Media generated revenue of approximately $1.65 billion, excluding the effects of purchase accounting related to the acquisition of Dex Media West LLC.

Safe Harbor for Forward-Looking and Cautionary Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan" and similar expressions are generally intended to identify forward-looking statements.

The following factors, among others, could affect future results: continuing weakness in the U.S. economy; increased competitive pressure from other directory publishers or media companies; changes in interest rates or a reduction in Dex Media's cash flow that could impair Dex Media's ability to service its debt obligations; Dex Media's high level of indebtedness; and risks related to the start-up of new print or Internet directories and media services.

Other factors that could materially affect actual results can be found in Dex Media's filings with the Securities and Exchange Commission. Many of these factors are beyond the company's ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements, which only speak as of the date of this press release. Dex Media undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

*Yahoo! and the Yahoo! logo are trademarks and/or registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners.

SOURCE Dex Media, Inc.

Investors, Brooke Martellaro, +1-866-545-2900, brooke.martellaro@dexmedia.com, or Media, Pat Nichols, +1-303-784-1555, pat.nichols@dexmedia.com, both of Dex Media, Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Dex Media, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.