Quebecor World Inc.
NYSE : IQW
TSX : IQW

Quebecor World Inc.
Yellow Pages Group
TSX : YLO.UN

Yellow Pages Group

October 19, 2006 13:41 ET

Quebecor World and Yellow Pages Group Sign CDN $ 1 Billion, Multi-Year Contract

MONTREAL, CANADA--(CCNMatthews - Oct. 19, 2006) - Quebecor World Inc. (TSX:IQW)(NYSE:IQW) and Yellow Pages Group (TSX:YLO.UN) today announced they have signed a directory printing agreement valued at more than CDN $1 billion through 2020. This agreement extends existing directory printing contracts in Eastern, Western and Central Canada and increases the volumes manufactured by Quebecor World.

"This expanded relationship with Canada's leading directory publisher demonstrates the Quebecor World commitment to creating the highest value for our customers, our employees and our shareholders by broadening our full-service offering." said Wes Lucas, President and CEO of Quebecor World. "The long term contract and additional volume allows us to further maximize our efficiencies and secures our position as one of the world's leading print solution partners for directory publishers."

"By entering into a sole source agreement with Quebecor World, we have been able to lock in the synergies that have underpinned our geographic expansion," stated Marc P. Tellier, President and CEO of Yellow Pages Group. "We have solidified our long term supply chain relationship and we have partnered with a creative supplier with an unsurpassed network."

Tony Galasso, President of Quebecor World Canada added, "This contract covers over 300 directory titles. It also includes expanded value added before and after print services such as the utilization of Quebecor World's proprietary AdMagic solution to build advertising pages and after press services including value-added fulfillment and logistics. We look forward to working with them to create additional new and unique product offerings to deliver superior value for their advertisers and end users."

Yellow Pages Group and Quebecor World Inc have worked together to manufacture Canada's telephone directories since the Montreal white pages were introduced in the late 1800s and since Yellow Pages directories were introduced in 1908. Current production is manufactured in state of the art facilities in Alberta, Ontario and Quebec. Titles will range from the stand-alone Yellow Pages™ and residential directories for Toronto, Montreal, Vancouver, Calgary and Winnipeg through to the combined directories for smaller communities throughout Canada.

Forward looking statements

The statements in this press release that are not historical facts are forward-looking statements. Such statements are subject to important known and unknown risks, uncertainties and assumptions which could cause the Company'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), operational risks (including pricing actions by competitors, changes in market conditions and customer demand for the Company's services and reliance on certain important customers), risks associated with capital investments, environmental risks, risks relating to labor agreements, commodity risks (including changes in raw material and equipment costs and availability), credit risks, financial risks, and general changes in the 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 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 including, in particular, the "Risks and Uncertainties" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2005, and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2005.

The forward-looking statements in this press release reflect the Company's expectations as of October 19, 2006 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 Inc

Quebecor World Inc. (NYSE:IQW)(TSX:IQW) is a world leader in providing high-value, complete print solutions to leading publishers, retailers, catalogers and other businesses with marketing and advertising activities. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World has approximately 29,000 employees working in more than 120 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.

About Yellow Pages Group

Yellow Pages Group is indirectly held by Yellow Pages Income Fund (TSX: YLO.UN). Yellow Pages Group is Canada's largest telephone directories publisher. Yellow Pages Group publishes annually more than 340 Yellow Pages™ and residential directories. The Company owns and manages Canada's most visited online directories YellowPages.ca™, Canada411.ca, as well as CanadaPlus.ca™, a network of seven local city sites.

Contact Information

  • Yellow Pages Group
    Annie Marsolais
    Director, Corporate Communications
    514-934-4016
    annie.marsolais@ypg.com
    www.ypg.com
    or
    Quebecor World Inc.
    Tony Ross
    Director, Communications
    514-877-5317
    800-567-7070
    or
    Quebecor World Inc.
    Roland Ribotti
    Senior Director, Investor Relations and Assistant-Treasurer
    514-877-5143
    800-567-7070
    www.quebecorworld.com