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Quebecor Files Plan of Reorganization with U.S. Bankruptcy Court

Press release from the issuing company

Montréal, Canada – Quebecor World Inc. announces filing of Plan of Reorganization and Disclosure Statement with U.S. Bankruptcy Court.

Consistent with the agreement in principle with its major creditor constituencies announced earlier this month, Quebecor World Inc. has filed a proposed Plan of Reorganization and Disclosure Statement for its subsidiaries currently subject to reorganization proceedings in the U.S. The hearing on the approval of the Disclosure Statement, which will form the basis on which creditors will vote on the Plan of Reorganization, is currently scheduled to be held before the U.S. Bankruptcy Court on May 15, 2009. Further details regarding the Plan of Reorganization and the recoveries that will be available to creditors will be filed approximately ten days in advance of that hearing. The plan does not anticipate any recovery for the holders of the Company's existing Multiple Voting Shares, Redeemable First Preferred Shares and Subordinate Voting Shares.

In furtherance of its reorganization efforts, Quebecor World intends to file, in the first week of May, a complementary Plan of Reorganization and Compromise in the CCAA proceeding currently pending in Canada, which, together with the Plan of Reorganization filed in the U.S., will implement the recapitalization and deleveraging of the Company contemplated in the agreement reached with the Company’s major creditor constituencies. Although there can be no assurance as to the ultimate confirmation of the Plan of Reorganization, this plan formulation and confirmation process is anticipated to allow the Company to emerge from creditor protection with a strong balance sheet by mid-July.

The U.S. Plan of Reorganization and Disclosure Statement will be available on the website of the U.S. claims agent, Donlin, Recano & Company, Inc. The website is linked from the restructuring section of the Quebecor World website at www.quebecorworld.com.

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