Quebecor Inc.
TSX : QBR.A
TSX : QBR.B

Quebecor Inc.

March 17, 2008 10:32 ET

Quebecor Inc. Delays 2007 Yearly Results

MONTREAL, QUEBEC--(Marketwire - March 17, 2008) - Quebecor (TSX:QBR.A)(TSX:QBR.B) today announces that it will delay the release of its consolidated financial statements for the year ended December 31, 2007. As indicated in its earlier press release of February 26, 2008, the release of Quebecor's consolidated financial results is dependent on the production by Quebecor World of its own financial results for the year ended December 31, 2007. Quebecor World, in view of the recent events involving it, is not in a position to provide Quebecor with its financial statements. In light of the above, Quebecor is consequently not able to determine when its consolidated financial statements for the year ended December 31, 2007 will be filed, together with the related auditors' report, Management Discussion and Analysis for the year ended December 31, 2007 and annual information form for the same period. Similarly, Quebecor will postpone its annual general meeting scheduled to be held on May 8, 2008.

Due to the late filing, Quebecor will shortly request the Autorite des Marches Financiers ("AMF") to impose a management cease-trade order precluding Quebecor's directors and officers from trading in Quebecor's securities.

Quebecor is currently unable to determine when it will be able to file its consolidated financial statements for the year ended December 31, 2007 and related documents. Quebecor acknowledges that if such documents are not filed by May 31, 2008, the AMF and other Canadian securities regulatory authorities may issue cease-trade orders that would extend to all of Quebecor's securities.

Quebecor intends to provide the information required by Ontario Securities Commission Policy 57-603 and CSA Staff Notice 57-301, including the issuance of bi-weekly status update reports as long as the consolidated financial statements are not filed.

Forward-looking statements

The statements in this press release that are not historical facts are forward-looking statements and are subject to significant known and unknown risks, uncertainties and assumptions which could cause Quebecor Inc.'s actual results for future periods to differ materially from those set forth in the forward-looking statements. Certain factors that may cause actual results to differ from current expectations include seasonality (including seasonal fluctuations in customer orders), operating risk (including fluctuations in demand for Quebecor Inc.'s products and pricing actions by competitors), risks associated with capital investment (including risks related to technological development and equipment availability and breakdown), environment risks, risks associated with labour agreements, commodity risks (including fluctuations in the cost and availability of raw materials), credit risk, financial risks, debt risks, risks related to interest rate fluctuations, foreign exchange risks, government regulation risks, risks related to tax changes and changes in the general political and economic environment. Investors and others are cautioned that the foregoing list of factors that may affect future results is not exhaustive and that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause Quebecor Inc.'s actual results to differ from current expectations, please refer to Quebecor Inc.'s public filings available at www.sedar.com and www.quebecor.com including, in particular, the "Risks and Uncertainties" section in Quebecor Inc.'s Management Discussion and Analysis for the year ended December 31, 2006 and the "Risk Factors" section of Quebecor Inc.'s 2006 Annual Information Form.

The forward-looking statements in this press release reflect Quebecor Inc.'s expectations as of March 17, 2008, and are subject to change after that date. Quebecor Inc. 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, except as required by applicable securities laws.

About Quebecor Inc.

Quebecor Inc. (TSX:QBR.A)(TSX:QBR.B) is a holding company with interests in two companies, Quebecor Media Inc. and Quebecor World Inc. Quebecor holds a 54.7% interest in Quebecor Media, which owns operating companies in numerous media-related businesses: Videotron Ltd., the largest cable operator in Quebec and a major Internet Service Provider and provider of telephone and business telecommunications services; Sun Media Corporation, the largest publisher of newspapers in Canada; Quebecor MediaPages, a publisher of print and online directories; TVA Group Inc., operator of the largest French-language over-the-air television network in Quebec, a number of specialty channels, and the English-language over-the-air station Sun TV; Canoe Inc., operator of a network of English- and French-language Internet properties in Canada; Nurun Inc., a major interactive technologies and communications agency with offices in Canada, the United States, Europe and Asia; magazine publisher TVA Publishing Inc.; book publisher and distributor Quebecor Media Book Group Inc.; Archambault Group Inc. and TVA Films, companies engaged in the production, distribution and retailing of cultural products, and Le SuperClub Videotron ltee, a DVD and console game rental and retail chain. Quebecor World is a commercial print media services company with operations in North America, Europe, Latin America and Asia.

Contact Information

  • Louis Morin
    Executive Vice President and Chief Financial Officer
    514-380-1912
    or
    Luc Lavoie
    Executive Vice President, Corporate Affairs
    514-380-1974
    514-947-6672 (mobile)
    Lavoie.luc@quebecor.com