A good thing that my default approach is to not trust official-looking emails in my personal inbox.
I've had the same Yahoo email account since 1997. Yeah, Yahoo is constantly disparaged in comparison to Google, but I've been happy with the service.
That said, consider the screen capture included with this post: relevant title (Yahoo! Mail Update 2012 (c)), escaped the spam trap, formatted with eye-pleasing graphics in a Yahoo color scheme, and mostly without spelling errors. Even thanks me for being a loyal user (aw, shucks).
BUT... while the first sentence smacks of appropriate legal jargon, upon closer inspection it's oddly worded. "There shall be a removal exercise"? Right.
As I've said before, when in doubt, hover the mouse over the link and see what address pops up. I've highlighted the link with a red bubble in the lower-left corner. I'm reasonably confident that Yahoo isn't sending customer service emails through color-leaflets.com.
Sad thing is, I bet someone falls for this. Phishing works because people fall for it, and sometimes the message is damn-well crafted.