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Transcontinental Invests One Million Dollars in its Rimouski Plant

Press release from the issuing company

MONTREAL--April 14, 2004-- Transcontinental announced today that it will invest $1 million in its Rimouski printing plant. These funds, which remove the uncertainty over the fate of Transcontinental Rimouski, will be used to purchase new equipment and to expand the building in Pointe-au-Pere, a few miles from Rimouski, where the Rivard Street plant will be relocated. Once operations have started in Pointe-au-Pere, the Rivard Street building will be sold. The Dumais Street operation will remain intact. The expansion will be completed by June 2004 and will increase the plant's production capacity. Formerly equipped to print flyers and other products for the retail market, the plant will now specialize in newspaper printing. Transcontinental Rimouski employs some 85 people, and this number will remain stable. "This is good news for our employees and the community of Rimouski, which has always been a strong supporter of Transcontinental," said Michel Levesque, Quebec general manager of the Transcontinental Printing Newspaper Group. "With the help of our employees, this new start will be a big success. By making the decision to invest, Transcontinental confirms its commitment to the Rimouski area and its desire to contribute to its economic development." The decision means that Transcontinental will be reopening its Pointe-au-Pere plant, which has been closed for a year while the company, to reduce costs and save as many jobs as possible, shifted production to its other two plants on Rivard and Dumais Streets in Rimouski. The Pointe-au-Pere plant was built recently on a lot that is big enough for future expansion.