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Transcontinental Completes the Acquisition of Gesca Printing Plants

Press release from the issuing company

Montreal, July 11, 2002 – Transcontinental’s acquisition of Gesca’s three commercial printing plants (Imprimerie Canada plant in Quebec City, Qualimax in Gatineau and TR Offset in Trois-Rivières) announced on March 6 was completed today. This transaction, which also includes 15-year contracts to print the daily newspapers Le Soleil, Le Droit, and Le Nouvelliste, will generate annual revenues of approximately $50 million over the next 15 years for Transcontinental. It also confirms Transcontinental’s position as the largest independent printer of newspapers in Canada. One of the most important commercial printers in North America, Transcontinental Group is also Canada's leading publisher of consumer magazines and the country’s second-largest publisher of community newspapers. The corporation is also engaged in interactive marketing, Internet solutions and the door-to-door distribution of advertising material. Through this fully integrated network, Transcontinental provides its customers total service. The corporation has close to 12,000 employees in Canada, the United States and Mexico and posted revenues of $1.8 billion in 2001. Transcontinental Group shares are listed on the Toronto Stock Exchange under the ticker symbols GRT.A and GRT.B. Gesca is a wholly owned subsidiary of Power Corporation of Canada (TSE: POW). It owns seven daily newspapers and one weekly paper: La Presse (Montreal), Le Soleil (Quebec City), Le Nouvelliste (Trois-Rivières), Le Droit (Ottawa), La Tribune (Sherbrooke), Le Quotidien (Saguenay) and La Voix de l’Est (Granby), and the Saguenay weekly Le Progrès Dimanche. The firm, which employs nearly 1800 people, continues to operate one commercial printing plant and produces the Internet site cyberpresse.ca, where offers the fullest range of news in Québec.

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