News Releases

    • AbitibiBowater Enters into Amended Securitization Facility
          ABWTQ (OTC)
          MONTREAL, June 17 /CNW Telbec/ - AbitibiBowater Inc. ("the Company")
      today announced that it has completed an amendment and restating of its
      existing accounts receivable securitization program for the Company's
      Abitibi-Consolidated subsidiary. The amended US$270 million program, which
      Citibank, N.A. and Barclays Capital Inc. led as joint lead arrangers, provides
      the Company with the liquidity necessary to conduct ongoing business
      operations during AbitibiBowater's restructuring and allows the previously
      court-authorized sale of receivables and related rights to continue.
          "Completing the amendment to this securitization program is an important
      milestone as we work through the stabilization period of the Company's
      restructuring process," stated David J. Paterson, President and Chief
      Executive Officer. "We appreciate the confidence shown by our financial
      partners as AbitibiBowater strives to emerge, as rapidly as possible, from the
      creditor protection filings a stronger, more sustainable organization."
          The Company had obtained an interim court order in the U.S. as well as a
      Canadian court order authorizing Abitibi-Consolidated to enter into an amended
      and restated securitization program.
          More information about AbitibiBowater's restructuring process can be
      found at or by calling toll-free 888-266-9280.
      International callers should dial 503-597-7698.
          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 over-the-counter on the Pink Sheets
      and on the OTC Bulletin Board under the stock symbol ABWTQ.
          Forward-Looking Statements
          Statements in this press 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 restructuring process of the Company, the
      sustainability of the business, as well as a rapid emergence from creditor
      protection procedures. Forward-looking statements may be identified by the use
      of forward-looking terminology such as the words "expect", "ensure",
      "believe", "will", and other terms with similar meaning indicating possible
      future events or potential impact on the business or other stakeholders of
      AbitibiBowater and its subsidiaries.
          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 ability to obtain
      additional financing, the ability to continue to meet the needs of our
      customers, the ability to meet all current operating needs, including wages,
      benefits and other operating expenses, the ability to ensure business
      continuity, the ability to protect the value of the business, the ability to
      make the necessary changes to ensure the long-term viability and the condition
      of the U.S. credit and capital markets generally. Additional factors are
      detailed from time to time in AbitibiBowater's and Abitibi-Consolidated's
      filings with the Securities and Exchange Commission (SEC), including those
      factors contained in AbitibiBowater's Annual Report on Form 10-K for the year
      ended December 31, 2008, filed with the SEC on April 30, 2009, under the
      caption "Risk factors". All forward-looking statements in this news release
      are expressly qualified by information contained in AbitibiBowater's and
      Abitibi-Consolidated's filings with the SEC. AbitibiBowater disclaims any
      obligation to update or revise any forward-looking information except as
      required by law.
      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,