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Quebecor World Provides Update on Restructuring

Wednesday, March 12, 2008

Press release from the issuing company

Montréal, Canada - Quebecor World Inc. provides this update on the currently ongoing chapter 11 proceedings of Quebecor World (USA) Inc and its affiliated debtors. On Friday, March 7, 2008, Judge James Peck extended by 30 days the date by which the final order approving the debtors $1 billion debtor-in-possession financing, previously authorized by the Court, must be entered in order to allow the parties sufficient time to address certain remaining issues. During this extended period, all of the terms and conditions of the interim order previously entered by the Court approving the debtor-in-possession financing remain in effect, including the Company’s right to borrow up to $750 million under the debtor-in-possession financings.

As of March 7, 2008 the Company had more than $225 million of cash on hand and more than $125 million of additional borrowings available under the $750 million debtor-in-possession financings for a total of more than $350 million of availability. The Company also expects to generate significant free cash flow in 2008.




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