Cambior Inc.

Cambior Inc.

November 08, 2006 11:48 ET

Cambior's Acquisition by IAMGOLD is Completed

LONGUEUIL, QUEBEC--(CCNMatthews - Nov. 8, 2006) - Cambior Inc. (TSX:CBJ)(AMEX:CBJ) ("Cambior" or "the Company") is pleased to announce that the Superior Court of Quebec has authorized its combination with IAMGOLD at 9:30 today. This decision follows the transaction's approval by the Cambior shareholders present or represented at yesterday's Special General Meeting of Shareholders. 99.7% of the votes cast at the meeting were in favor of the transaction.

Therefore, closing of the transaction occurred at 10:00 today. The common shares of Cambior Inc. are being delisted from the TSX and AMEX effective at the close of business today. Under the arrangement, Cambior shareholders will receive 0.42 of one common share of IAMGOLD for each Cambior share they hold, a 31% premium to the Cambior share price on September 14, the date of the arrangement was announced.

With the completion of the transaction, IAMGOLD Corporation becomes the leading mid-tier gold producer in the world with operations, development projects and exploration activities throughout the Americas and Africa.

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