Montreal and Sao Paulo - Quebecor World Inc. (NYSE,TSE:IQW) today announced it has signed a 10-year agreement with Listel Listas Telefonicas S.A., Brazil's leading publisher of telephone directories. Listel is a subsidiary of BellSouth Corporation (NYSE:BLS), a $26 billion communications services company and one of the largest publishers of telephone directories in the U.S. This latest agreement will allow us to expand our new facility in Brazil's fourth largest city, Recife. The directories will serve more than 100 million people in 152 regions and cities across the country. In all, Quebecor World will print more than 11.8 billion directory pages a year for Listel. This single contract is more than half of all the directory pages we print in Canada in one year. The projected value of the contract over 10 years exceeds US$ 140 million, excluding the value of paper. "We have had a close working relationship with BellSouth for many years and are proud to be able to support them in their role in developing the telecommunications sector in South America. The agreement with Listel, a BellSouth company, is a win-win situation," said Charles G. Cavell, Quebecor World President and Chief Executive Officer. "Listel gets superior quality and service while the security of the long-term contract allows Quebecor World to increase its investment in the Brazilian market." Under the agreement, Quebecor World will print the directories in its new greenfield plant in Recife and in Quebecor World's Lima, Peru, facility. In September, Quebecor World announced it was building the Recife plant after signing a 10-year US$ 170 million contract with Editora Abril S.A., the country's leading publisher of consumer magazines. Now the plant will be significantly expanded because the Listel contract will double the amount of production. "This contract and our partnership with Abril allow us to build a strong local business and give us the highest possible asset utilization of our new Recife facility, said Mr. Cavell. "We already operate facilities in Chile, Columbia, Argentina, Mexico and Peru. We are excited to add another major piece to our Latin American platform in the country with the largest population in the region. We will continue to build on these efforts and see significant growth opportunities in one of the major economies of the future." "This contract offers Listel enhanced heatset quality manufacturing on terms that reflect the economics of Brazilian production," stated Listel President Jerzy Rostworowski. "We have chosen Quebecor World because of their proven ability to respond to our needs." Listel Listas Telefonicas S.A. is Brazil's leading publisher of telephone directories. Its territories include the State of S„o Paulo and several other regions. Listel is a wholly owned subsidiary of BellSouth Corp., a $26 billion communications services company. In addition to its base in the United States, BellSouth has operations in 11 countries throughout Latin America , including Argentina, Brazil, Chile, Columbia, Ecuador, Guatemala, Nicaragua, Panama, Peru, Uruguay and Venezuela. Quebecor World Inc. (NYSE, TSE: IQW) is the largest commercial print media services company in the world. The Company is a leader in most of its major product categories, which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail lists, technologies and other value added services. The Company has over 43,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Spain, Switzerland, Austria, Sweden, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.