Quebecor World Inc.
NYSE : IQW
TSX : IQW

Quebecor World Inc.

December 29, 2006 12:06 ET

Quebecor World 'USA' Inc. Announces Final Results of Tender Offers for Notes

MONTREAL, CANADA--(CCNMatthews - Dec. 29, 2006) - Quebecor World (USA) Inc., a wholly-owned subsidiary of Quebecor World Inc. (TSX:IQW)(NYSE:IQW), announced today the final results of its cash tender offer (the "Primary Offer") to purchase up to the entire principal amount of Quebecor World Capital Corporation's ("Quebecor World Capital") 8.54% Senior Notes, Series C, due September 15, 2015 (the "Series C Notes") and up to the entire principal amount of Quebecor World Capital's 8.69% Senior Notes, Series D, due September 15, 2020 (the "Series D Notes") and of its cash tender offer (the "Secondary Offer" and together with the Primary Offer, the "Offers") to purchase up to the Contingent Amount of the total aggregate principal amount of Quebecor World Capital's 8.42% Senior Notes, Series A, due July 15, 2010 (the "Series A Notes") and Quebecor World Capital's 8.52% Senior Notes, Series B, due July 15, 2012 (the "Series B Notes" and collectively with the Series C Notes, the Series D Notes and the Series A Notes, the "Notes"). The Offers commenced on November 30, 2006 and expired at 11:59 p.m., New York City time, on December 28, 2006 (the "Expiration Date"). The "Contingent Amount" means the difference between $125.0 million and the total aggregate principal amount of the Series C Notes and the Series D Notes accepted for purchase pursuant to the Primary Offer.

Quebecor World (USA) Inc. was advised by Global Bondholder Services Corporation, the Depositary for the Offers, that a total of $36,000,000 in aggregate principal amount of the Series C Notes and none of the Series D Notes were tendered pursuant to the Primary Offer prior to the Expiration Date and that a total of $3,500,000 in aggregate principal amount of the Series A Notes and $15,000,000 in aggregate principal amount of the Series B Notes were tendered pursuant to the Secondary Offer prior to the Expiration Date. Quebecor World (USA) Inc. accepted for purchase all the tendered Notes.

Citigroup Global Markets Inc. acted as the Dealer Manager for the Offers, and Global Bondholder Services Corporation acted as the Information Agent and the Depositary for the Offers.

Forward looking statements

This press release includes "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" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2005, and the "Risk Factors" 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 December 29, 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

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.

Contact Information

  • 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