Quebecor World Inc.

Quebecor World Inc.

July 10, 2008 11:12 ET

Quebecor World Announces $55 Million Multi-Year Print Agreement With Reader's Digest Association

MONTREAL, CANADA--(Marketwire - July 10, 2008) - Quebecor World Inc. (TSX:IQW) today announced it has reached a new multi-year agreement valued at approximately $55 million with Reader's Digest Association to print magazines and books for the New York-based publisher. The agreement includes renewal work on titles such as Family Handyman, Reader's Digest Large Print, Weekly Reader, QVC books and Select Editions books. The agreement also includes significant new work for Quebecor World, including Weekly Reader Current Events and Reader's Digest Milwaukee magazine.

"Our partnership with the Reader's Digest Association dates back more than 30 years," said Jacques Mallette, President and CEO, Quebecor World Inc. "We are pleased that this agreement not only continues our partnership but will further expand the scope and scale of the services we provide to the Reader's Digest Association."

"Our ability to serve the Reader's Digest Association through our integrated Publishing Services Group allows us to deliver the value and quality an industry publishing leader such as the Reader's Digest Association demands," said Kevin J. Clarke, President of Quebecor World's Publishing Services Group. "This successful partnership also shows the value of our strategy to integrate our magazine, book and directory operations into a single operating structure. Innovative publishers such as Reader's Digest Association are increasingly serving their readers and advertisers across these multiple media platforms."

Quebecor World's continental platform and full-service offering provides added value to Reader's Digest. The work will be produced at Quebecor World's facilities in the United States and Canada and Reader's Digest will benefit from Quebecor World's leading Logistics Services to improve delivery and reduce postal costs.

Al Perruzza, Senior Vice President of Global Operations at Reader's Digest Association, said: "Quebecor World has demonstrated continuing high levels of service, quality and value over the many years we have been able to work with the company. We are pleased to renew and expand on this relationship, and look forward to Quebecor World being a valued partner to us in the years ahead."

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, and In particular, further details and descriptions of these and other factors are disclosed in the "Risk Factors" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2007.

The forward-looking statements in this press release reflect the Company's expectations as of July 10, 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.

Quebecor World Inc. is currently subject to Court protection under the Companies' Creditors Arrangement Act (Canada), and various U.S. subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy Code.

About Quebecor World

Quebecor World Inc. (TSX: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 24,000 employees working in more than 100 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, India, Mexico, and Peru.

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About Reader's Digest

The Reader's Digest Association, Inc. (RDA) is a global publisher and direct marketer of books, magazines and home entertainment products that inform, entertain and inspire people of all ages and cultures around the world. The company publishes 92 magazines, including its flagship magazine - Reader's Digest. RDA's corporate headquarters are located near Pleasantville, New York.

Contact Information

  • Quebecor World Inc.
    Tony Ross
    Vice President, Communications
    Quebecor World Inc.
    Roland Ribotti
    Vice President, Investor Relations and Assistant Treasurer