April 11, 2004

Hispanic Yellow Pages of America, Inc. (HYPA) has acquired Páginas Amarillas de Colorado (PAC), Denver’s leading Hispanic yellow pages directory, for an undisclosed combination of cash and stock. PAC marks HYPA’s second acquisition following Chicago’s La Raza Páginas Amarillas in April.

“We had so many opportunities that we could not take advantage of because we did not have the resources. With HYPA I not only found the capital, but the publishing know how and right partners,” said Mrs. Rubi.

HYPA, the platform for consolidation of U.S. Hispanic directories, plans to centralize all production and administrative responsibilities in Chicago, thus affording its publishers the freedom to market and sell advertising for their books more effectively. HYPA’s plan allows for investment in a local sales infrastructure and support with telemarketing and national sales to CMR agencies.

“We have been sharing best practices in publishing our directories, and I can tell that with Martha joining our management team, HYPA is poised to expand rapidly through acquisitions and more so through the organic growth based on building and operating the directories we purchase,” stated HYPA Director, Robert Armband.

Another reason Mrs. Rubi chose HYPA as a partner was because of Mr. Gilbert Cano, an additional asset HYPA offers to publishers. Mr. Gilbert Cano, General Manager of HYPA has more than 19 years of experience in the yellow pages industry. Mr. Cano has been responsible for operating and leading the sales and marketing efforts for yellow pages directories in Latin America, as well as, in the United States.

“I’m thrilled that we have accomplished our second acquisition and I trust that our plan will enjoy as much enthusiasm in the other markets where we are currently entertaining discussions for acquisitions and partnerships,” stated Mr. Gilbert Cano.

Mrs. Rubi remains publisher of PAC and has also become a shareholder and Director of HYPA, together with Mr. Signoret and Mr. Armband. “It is a pleasure working with such an energetic and intelligent woman,” stated Carlos Signoret, Fund Manager of Hispania Capital Partners. “With the help of Santana Partners, a Denver-based investment-banking firm that served as financial advisor to PAC during the transaction, we were able to close the transaction in only a few months,” added Mr. Signoret.

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