Montreal, June 15, 2001 – Quebecor Media Inc. announced today that it has executed a commitment letter for credit facilities of up to C$1.905 billion with a syndicate of Canadian and U.S. banks and that it also plans to issue US$850 million of senior notes. The proceeds from the US$850 million senior notes offering along with C$605 million from credit facilities will allow Quebecor Media to repay in full current outstanding indebtedness under the C$2.1 billion bank financing it incurred in October 2000 to acquire Le Groupe Vidéotron ltée. The unused balance of C$1.3 billion under the new credit facilities will be cancelled concurrently with the closing of the US$850 million senior notes offering. The notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The commitment letter is subject to a number of conditions including definitive documentation and completion of certain other transactions.