News Releases

    • AbitibiBowater provides first Default Status Report
          ABH (NYSE, TSX)
          AXB (TSX)
          MONTREAL, April 14 /CNW Telbec/ - AbitibiBowater Inc. and AbitibiBowater
      Canada Inc. (collectively, the "Companies") provide this bi-weekly Default
      Status Report in accordance with National Policy 12-203 - Cease Trade Order
      for Continuous Disclosure Defaults ("NP 12-203"). On March 31, 2009, the
      Companies announced that they were not able to timely file their annual
      financial statements, accompanying management's discussion and analysis and
      related CEO and CFO certifications (collectively, the "2008 Annual Financial
      Statements") for the financial year ended December 31, 2008.
          In accordance with NP 12-203, and as previously announced, the Companies
      applied to the applicable securities commissions and regulators for Management
      Cease Trade Orders related to the shares of the common stock of AbitibiBowater
      Inc. and AbitibiBowater Canada Inc.'s exchangeable shares to be imposed
      against certain of the Companies' executive officers (and at the discretion of
      the applicable securities commissions, some or all of the persons who have
      been directors, officers or insiders of the Companies) instead of a general
      Cease Trade Order being imposed against all securities of the Companies. On
      April 2, 2009, the Quebec Autorité des marchés financiers issued a temporary
      Management Cease Trade Order expiring on April 20, 2009, related to the
      Companies' securities against certain directors and officers of the Companies
      for so long as annual financial statements, certifications and related MD&A
      are not filed. On April 6, 2009, the Ontario Securities Commission rendered a
      similar Management Cease Trade Order related to certain Ontario-resident
      directors of AbitibiBowater Inc. The issuance of such Management Cease Trade
      Orders does not generally affect the ability of persons who have not been
      directors, officers or insiders of the Companies to trade the securities of
      the Companies. A general Cease Trade Order may be imposed by the applicable
      securities commissions if the Companies fail to satisfy the provisions of the
      Alternative Information Guidelines required pursuant to NP 12-203 (the
      "Alternative Information Guidelines").
          The Companies are working with their auditors to complete the audit of
      the 2008 Annual Financial Statements as soon as possible. Until the 2008
      Annual Financial Statements are filed, the Companies intend to satisfy the
      Alternative Information Guidelines by issuing bi-weekly Default Status
      Reports, each of which will be issued in the form of a press release. If the
      2008 Annual Financial Statements are not filed beforehand, the Companies
      intend to issue their next Default Status Report on April 28, 2009.
          The Companies report that since their original announcement on March 31,
      2009, (the "Notice") in respect of the delay in filing their 2008 Annual
      Financial Statements, there have not been any material changes to the
      information provided in the Notice other than as described herein nor any
      failure by the Companies in fulfilling their stated intentions with respect to
      satisfying the Alternative Information Guidelines. In addition, there has not
      been any other specified default by the Companies under NP 12-203, nor are any
      anticipated and there is no other material information concerning the affairs
      of the Companies that has not been generally disclosed.
          AbitibiBowater produces a wide range of newsprint, commercial printing
      papers, market pulp and wood products. It is the eighth largest publicly
      traded pulp and paper manufacturer in the world. AbitibiBowater owns or
      operates 23 pulp and paper facilities and 30 wood products facilities located
      in the United States, Canada, the United Kingdom and South Korea. Marketing
      its products in more than 90 countries, the Company is also among the world's
      largest recyclers of old newspapers and magazines, and has third-party
      certified 100% of its managed woodlands to sustainable forest management
      standards. AbitibiBowater's shares trade under the stock symbol ABH on both
      the New York Stock Exchange and the Toronto Stock Exchange and AbitibiBowater
      Canada's exchangeable shares trade on the Toronto Stock Exchange under the
      stock symbol AXB.
          Forward-Looking Statements
          Statements in this news release that are not reported financial results
      or other historical information are "forward-looking statements" within the
      meaning of the Private Securities Litigation Reform Act of 1995. They include,
      for example, statements about the timing of the filing of the Annual Financial
      Statements, and our strategies for achieving our goals generally.
      Forward-looking statements may be identified by the use of forward-looking
      terminology such as the words "will", "would" and "intends" and other terms
      with similar meaning indicating possible future events or potential impact on
      the business or stockholders of AbitibiBowater.
          The reader is cautioned not to place undue reliance on these
      forward-looking statements, which are not guarantees of future performance.
      These statements are based on management's current assumptions, beliefs and
      expectations, all of which involve a number of business risks and
      uncertainties that could cause actual results to differ materially. These
      risks and uncertainties include, but are not limited to, the Companies'
      ability to remain in compliance with continued listing standards of the NYSE
      and the TSX, the ability to obtain a Management Cease Trade Order from the
      applicable Canadian securities regulatory authorities and the Companies'
      ability to satisfy the provisions of National Policy 12-203. Additional
      factors are detailed from time to time in AbitibiBowater's filings with the
      Securities and Exchange Commission (SEC), including those factors contained in
      AbitibiBowater's Current Report on Form 8-K filed on February 9, 2009. All
      forward-looking statements in this news release are expressly qualified by
      information contained in the AbitibiBowater's filings with the SEC and the
      Canadian securities regulatory authorities. AbitibiBowater disclaims any
      obligation to update or revise any forward-looking information.
      For further information:
      For further information: Investors: Duane Owens, Vice President,
      Finance, (864) 282-9488; Media and Others: Seth Kursman, Vice President,
      Communications and Government Affairs, (514) 394-2398,