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Quebecor World: Michel Desbiens Named CEO, Claude Helie Appointed CFO

Press release from the issuing company

MONTREAL--Feb. 3, 2003--The Right Honourable Brian Mulroney, Chairman of the Board of Quebecor World Inc, is pleased to announce the appointments of Michel Desbiens as Chief Executive Officer and Claude Helie as Chief Financial Officer of the Company. Mr. Desbiens is replacing Charles G. Cavell who becomes Deputy Chairman of the Board. Mr. Helie is replacing Christian Paupe who has announced his intention to pursue other career opportunities. "Last summer Mr. Cavell informed me of his wish to see his responsibilities lightened while remaining associated with the growth and success of the Company. Today, I am pleased to announce that Charlie will work very closely with Michel thereby ensuring a smooth transition," said Mr. Mulroney. He added: "Michel Desbiens and Claude Helie formed a team that was highly regarded by everyone when they drove the impressive growth of Donohue Inc. At Michel's invitation Claude has accepted to rejoin him and assume the role of Chief Financial Officer of Quebecor World. The combination of the skills of these two individuals will ensure that the Company will continue to grow and deliver value to all shareholders." Mr. Mulroney said that, "Charlie has provided exceptional leadership at Quebecor World Inc. and has greatly contributed to the growth of the Company during the past 15 years. We are delighted with Charlie's decision to accept a new appointment as Deputy Chairman of the Board, thereby ensuring his ongoing valuable assistance to the new management team." The CEO of Quebecor Inc., the controlling shareholder of Quebecor World, Pierre Karl Peladeau said, "In its day, Donohue was the model in its sector of activity, arguably the best paper company in the world. This success story had a lot to do with the leadership and hard work of the two individuals that are being appointed today." Mr. Peladeau added, "Quebecor World is very much part of the history of Quebecor and these two men have been a major part of our success. I am confident they will continue to deliver for our shareholders in their new roles." Mr. Desbiens' appointment is effective immediately. Mr. Helie's is effective February 17. Messrs. Cavell, Paupe, Desbiens and Helie will participate on the Quebecor World fourth quarter, year-end conference call.