Quebecor World Inc.
NYSE : IQW
TSX : IQW

Quebecor World Inc.

January 23, 2008 21:37 ET

Quebecor World Receives U.S. Court Approval of $1 Billion Financing Plan

MONTREAL, QUEBEC--(Marketwire - Jan. 23, 2008) - Quebecor World Inc. (IQW:TSX) (NYSE:IQW) today received the initial United States court orders it sought as part of its court supervised reorganization and protection. United States Judge James Peck today provided the final authorization needed for Quebecor World Inc. to borrow up to $750 million under the terms of the credit facility from Credit Suisse and Morgan Stanley. Together with the approval of this loan by the Quebec Superior Court earlier this week, today's approval clears the way for Quebecor World to obtain the cash infusion, the first part of a $1 billion in new financing. The proceeds of the financing will be used to fund its operations as the Company reorganizes under the protection of the courts in the United States and Canada.

The Court also granted a series of other requests from Quebecor World's subsidiaries in the United States. Among other things, the Court authorized the Company to continue to honor its ongoing obligations to its employees and to honor all commitments to the Company's customers so as to ensure that customers receive the same high level of service they depend upon to meet their advertising and publishing needs.

Forward looking statements

This press release may include "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of Quebecor World Inc. (the "Company"), may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made have on the Company's business. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset writedowns or other charges announced or occurring after forward-looking statements are made.

Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available at www.sedar.com, www.sec.gov and www.quebecorworld.com. In particular, further details and descriptions of these and other factors are disclosed in the "Risks and Uncertainties related to the Company's business" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2006, and the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2006.

The forward-looking statements in this press release reflect the Company's expectations as of January 23, 2008 and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.

About Quebecor World

Quebecor World Inc. (TSX:IQW) (NYSE:IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The Company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies and other value-added services. Quebecor World has approximately 28,000 employees working in more than 115 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, Switzerland and the United Kingdom.

Web address: www.quebecorworld.com

Contact Information

  • Quebecor World Inc.
    Tony Ross
    Vice President, Communications
    514-877-5317
    800-567-7070
    or
    Quebecor World Inc.
    Roland Ribotti, Vice President, Investor Relations
    and Assistant Treasurer
    514-877-5143
    800-567-7070
    www.quebecorworld.com