Is there an exp share in Pokemon Yellow?

Although it doesn't have the exact same name, there is an experience share item, called Exp. All, in the Generation I games, including Pokemon Yellow.

The Exp. All can be obtained from Professor Oak's aide on the second floor of the gate on Route 15. It is only obtained if you have caught 50 different kinds of Pokemon.

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Talk to one of Professor Oak's aides. He's on Route 15, in the building that connects it to Fuschia City, on the upper floor.