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Time Inc. Awards $200 Million Contract Extension to Quebecor World

Press release from the issuing company

NEW YORK--Dec. 6, 2001--Quebecor World says they have been awarded a contract extension by Time Inc. for printing over 20 of its Time Inc., Southern Progress and Oxmoor House titles. Additionally, Quebecor World will begin printing THIS OLD HOUSE in the spring of 2002. Quebecor plants in Dallas, TX, Merced, CA, Clarksville, TN, and Effingham, IL will fulfill the print under this deal. During the contract period, sales should exceed $210 million. As part of the contract agreement, Quebecor World plans to add another 48-page press to its Dallas, TX facility. "Over the years, Time Inc. has enjoyed a very successful relationship with Quebecor World. This contract extension leaves us well-positioned for continued progress in future years,'' said Barry Meinerth, Senior Vice President, Production for Time Inc. John Paloian, Group President Magazine & Catalog, Quebecor World North America added, "As a key strategic partner, Time Inc. represents the type of company that Quebecor World has structured itself to support. Their ability to take advantage of the size, diversity and flexibility of our manufacturing and distribution platform leads to significant benefits for both of our organizations.''