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Quebecor World Gets Contract Extension From Hachette Filipacchi Media

Press release from the issuing company

GREENWICH, Conn.--June 4, 2003-- Quebecor World Inc. has been awarded a multi-year contract extension by Hachette Filipacchi Media (HFM U.S.) to print all of its core magazines. HFM U.S. is one of the top 5 magazine publishers in North America. Under the new contract, Quebecor World will produce all 18 of HFM U.S.'s core magazines across several of its magazine-dedicated manufacturing facilities. Quebecor World also produces spot jobs, direct mail, books, international and premedia work for HFM U.S. This multi-year contract extends a 20-plus year mutually beneficial relationship between HFM U.S. and Quebecor World. Prior to the merger of Quebecor Printing and World Color Press in 1999, each of the predecessor companies had part of the HFM U.S. business, and post-merger, Quebecor World remains the sole producer of HFM U.S.'s entire portfolio of core magazine titles. Tony Romano, Senior Vice President Manufacturing and Distribution, HFM U.S., stated, "While Quebecor World has been a valued business partner for many years, our decision to extend our contract was made only after a careful evaluation of the marketplace". He added, " Quebecor World's demonstrated understanding of our business needs, combined with a uniquely strong, flexible manufacturing network, were key factors in our decision." Quebecor World's North American Chief Operating Officer, David Boles noted that, "Our company has been designed to provide customers like HFM U.S. with the inherent benefits resulting from single-sourcing entire segments of their business with us. We remain confident that Quebecor World's unparalleled ability to provide total manufacturing and distribution solutions will continue to allow our customers to enjoy significantly streamlined operations." Rick Marcoux, President of Magazine Services, Quebecor World North America added, "The confidence in our ability to produce all of their magazines, that HFM has demonstrated by awarding us this contract extension, is the direct result of the way in which our sales and manufacturing teams manage this business. Communication of specific customer needs and requirements remains strong across the entire platform, and continues to be vital to our success with this complex account." HFM U.S. is the New York headquartered subsidiary of Hachette Filipacchi Medias, the world's largest magazine publisher. HFM U.S. reaches nearly 50 million readers in the U.S. through its 18 titles, including American Photo, Car and Driver, Cycle World, ELLE, ELLE Decor, ELLEgirl, Home, Premiere, Road & Track, Woman's Day and others.