Quebecor World Announces Tender Offer for Quebecor World USA Notes

Press release from the issuing company

MONTREAL--Nov. 4, 2003--Quebecor World Inc. announced today that its wholly-owned subsidiary, Quebecor World (USA) Inc., has commenced a tender offer to purchase all $300,000,000 aggregate principal amount outstanding of its 7 3/4% Senior Notes due February 15, 2009 at a price of $1,054.63 per $1,000 principal amount of Notes, in cash, plus accrued and unpaid interest on the Notes to, but not including, the date of payment. A portion of the proceeds from the $600 million of senior notes recently issued by another Quebecor World Inc. subsidiary, Quebecor World Capital Corporation, will finance this repurchase of debt. The tender offer will expire at 5:00 p.m., Eastern Standard Time, on November 10, 2003, unless extended. Citigroup is the dealer manager for the tender offer. Global Bondholder Services Corporation is the information agent for this offer.