News

MONTREAL, CANADA -- (Marketwire) -- 04/08/09 -- Quebecor World Inc. (TSX: IQW) announces it has reached agreement in principle on the key terms that will allow QWI to successfully emerge from creditor protection

After extensive negotiations with its major creditor constituencies, Quebecor World Inc., together with its subsidiaries currently subject to reorganization proceedings in the U.S., is pleased to announce that it has now reached general agreement on the material terms and conditions of a consolidated restructuring plan that will form the basis of a comprehensive Plan of Reorganization, Arrangement or Compromise that will recapitalize and substantially deleverage the Company from its pre-filing levels. In connection with this restructuring, the Company also anticipates having to arrange exit financing at levels below its current debtor-in-possession financing facility.

Quebecor World is extremely pleased with the general agreement now reached with its major creditor constituencies, which is consistent with its stated objective of exiting creditor protection with a strong balance sheet.

The Company continues to work with its major creditor constituencies, and anticipates that it will be in a position to file a Plan of Reorganization, Arrangement or Compromise in Canada and a complementary Plan of Reorganization in the United States, together with associated disclosure documents, by the end of April that will provide detailed information regarding the recapitalization of the Company, the recoveries that will be available to creditors and the going forward business plan of the reorganized Quebecor World Inc. This plan formulation and confirmation process is anticipated to allow for the Company's emergence from creditor protection by mid-July.

As the Company has consistently stated, in light of the CCAA and Chapter 11 Proceedings, it is highly unlikely that the Company's existing Multiple Voting Shares, Redeemable First Preferred Shares and Subordinate Voting Shares will have any value following the implementation of a plan of reorganization.

Forward looking statements

To the extent any statements made in this press release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are forward-looking information within the meaning of the "safe harbor" provisions of applicable Canadian securities legislation (collectively "forward-looking statements"). These forward-looking statements relate to, among other things, prospects of Quebecor World Inc.'s (the "Company") industry and its objectives, goals, strategies, beliefs, intentions, plans, estimates, projections and outlook, and can generally be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms, variations on them and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. The Company has based these forward-looking statements on its current expectations about future events. Forward-looking statements do not take into account the effect of transactions or other items announced or occurring after the statements are made. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset write-downs or other charges announced or occurring after the forward-looking statements are made.

Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct, and forward-looking statements inherently involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, including, but not limited to, factors and assumptions relating to the Company's ability to emerge from the insolvency proceedings, and actual results may differ materially from those expressed or implied in such forward-looking statements.

Important factors and assumptions as well as the Company's ability to anticipate and manage the risks associated therewith that could cause actual results to differ materially from these expectations are detailed from time to time in the Company's filings with the U. S. Securities and Exchange Commission ("SEC") and the securities regulatory authorities in Canada, available at www.sec.gov and www.sedar.com (copies of which are available on www.quebecorworld.com). The Company cautions that any such list of important factors that could affect future results is not exhaustive. Investors and others should carefully consider the factors detailed from time to time in the Company's filings with the SEC and the securities regulatory authorities in Canada and other uncertainties and potential events when relying on its forward-looking statements to make decisions with respect to the Company.

The Company is currently subject to court protection under the Companies' Creditors Arrangement Act in Canada ("CCAA"), and various U.S. subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11"). In light of the CCAA and Chapter 11 Proceedings, it is highly unlikely that the Company's existing Multiple Voting Shares, Redeemable First Preferred Shares and Subordinate Voting Shares will have any value following the implementation of any plan of reorganization.

Unless mentioned otherwise, the forward-looking statements in this press release reflect the Company's expectations as of April 8, 2009, being the date at which they have been approved, 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 applicable securities laws.

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 20,000 employees working in approximately 90 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, Mexico, and Peru.

Web address: www.quebecorworld.com

Contacts:

Quebecor World Inc.

Tony Ross

Vice President, Communications

514-877-5317

800-567-7070



Quebecor World Inc.

Roland Ribotti

Vice President, Corporate Finance and Treasurer

514-877-5143

800-567-7070