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Quebecor World Officially Opens its New Printing Plant in Recife Brazil

Press release from the issuing company

RECIFE, Brazil--June 22, 2001- Quebecor World Inc. today officially opened its greenfield plant in Recife, Brazil. The 16,000 sq. meter facility prints magazines for Editora Abril, Latin America's largest publisher, and directories for Listel, one of the regions largest directory publishers and a subsidiary of BellSouth Corporation. "Enabling contracts with these two publishers made this plant possible,'' said Charles G. Cavell, President and CEO of Quebecor World Inc. "This plant was built and put into operation in less than 10 months. This is a tremendous credit to our employees in Brazil and to those from across North America who came here to help develop the skills required to provide world-class service to our customers.'' The opening was attended by almost 250 people including Mr. Cavell; Roberto Civita, Chairman and CEO of Abril; Fabio Coelho, President of Listel-Bellsouth; Jarbas Vasconcelos, Governor of Pernambuco; Jose Mendoca Filbo, Vice-Governor of Pernambuco; and Carlos Santana Mayor of Ipojuca. The facility uses state-of-the-art technology and is linked by satellite to the rest of the Quebecor World network. It is situated in the Northwest region of Brazil, Latin America's largest economy. The location allows publishers to service their customers and reduce time and distribution costs. The contract with Abril covers 18 titles including VEJA, the world's fourth largest news magazine. The projected value of the contract over ten years exceeds US$170 million, excluding paper. The Listel contract valued at US$142 million over 10 years, will serve more than 100 million people in the 152 regions and cities across Brazil. In all Quebecor World will print more than 11.8 billion directory pages per year for Listel. This is more than half of the directory pages the Company prints in Canada in one year. The Recife plant has five presses producing a quality heat-set product. The facility employs approximately 200 people. "This plant significantly enhances our Latin America platform,'' added Guy Trahan, President Quebecor World Latin America. "We also have facilities in Argentina, Chile, Columbia, Mexico and Peru. Now with two plants in the country with the largest population in Latin America we are poised as never before to take advantage of significant growth opportunities''.

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