MONTREAL, CANADA - Quebecor World Inc. 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.