Montreal, Canada - 2/28/01 - Quebecor World Inc. has completed its offering of 8,000,000 6.75% Cumulative Redeemable First Preferred Shares Series 4 at a price of CDN$25.00 per share. The initial issue of 6,000,000 shares was purchased by a syndicate of underwriters led by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. The underwriters also exercised an option to purchase an additional 2,000,000 shares. The total proceeds raised from the offering is CDN$200,000,000. This represents approximately 3% of Quebecor World’s total capital structure. The net proceeds of this offering will be used to invest in capital expenditures and for general corporate purposes. “This financing allows us to further diversify our funding sources and to strengthen our balance sheet for future growth,” said Christian Paupe, Executive Vice-President of Quebecor World. “The high level of investor demand demonstrates investors’ confidence in the print media industry and Quebecor World’s leadership position.” Quebecor World recently announced record year-end earnings. Revenues topped US$6.5 billion and the Company generated in excess of US$747 million in free cash flow.