MONTREAL--March 12, 2004-- Brian Mulroney, Chairman of the Board of Quebecor World Inc., is pleased to announce the appointment of Pierre Karl Peladeau as President and Chief Executive Officer of the Company. Mr. Peladeau is replacing Jean Neveu who has served as interim President and CEO since March, 2003. "The Board of Directors and I would like to thank Jean for his service during the past year. He has accomplished a great deal. His focus on cost containment and cost reduction has established a solid foundation on which to build," said Mr. Mulroney. "Jean will continue to serve Quebecor World as a member of the Board and will ensure an orderly transition." Pierre Karl Peladeau has a long history with Quebecor World. He has served in numerous executive positions including President of the Company's European Operations and Chief Operating Officer of Quebecor Printing. Mr. Peladeau was responsible for the acquisition of World Color Press in 1999. This acquisition doubled the size of the Company and made it one of the largest print media companies in the world. Most recently Mr. Peladeau served as President and CEO of Quebecor Media, one of Canada's most important media companies. He built it into one of the most profitable by grouping together assets in cable, broadcast television, publishing and new media. "Pierre Karl brings a unique set of talents to his new position at Quebecor World," commented Mr. Mulroney. "He has proven by his recent performance that he has the drive and vision to build and manage a company that delivers strong results for all its shareholders. In addition, because of his almost life-long exposure to the printing industry he has a detailed knowledge of the operational and customer base."