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Quebecor World Withdraws Refinancing Plan

Wednesday, November 21, 2007

Press release from the issuing company

November 2007 - Montréal, Canada – Quebecor World announced today that it was withdrawing its refinancing plan involving an offer of approximately Cdn$250 million of its equity shares, an offer on a private placement basis of an aggregate of $500 million of new debt securities and amendments to the Company’s secured credit facilities. The Company has decided to withdraw the refinancing plan due to adverse current financial market conditions. The Company will continue to evaluate financing alternatives, including the issuance of equity and debt securities when conditions are more favourable, asset sales and sale leaseback transactions and explore other alternatives. To that effect, the Board will hire independent financial advisors.




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