News Releases

    • AbitibiBowater completes sale of select timberland assets in Québec
          ABH (NYSE, TSX)
          MONTREAL, Feb. 20 /CNW Telbec/ - AbitibiBowater announced today that it
      has completed the sale of approximately 76,724 hectares (189,508 acres) of
      private timberlands in Québec, Canada, for CDN$70 million in cash.
      AbitibiBowater plans to use the proceeds from this sale for general corporate
          The Seigneurie of Perthuis, located in the Mauricie region, was sold to a
      newly formed limited partnership composed of Société de gestion d'actifs
      forestiers Solifor, s.e.c. and the principal shareholder of Scierie Dion &
      Fils inc., a local sawmill operator. The Seigneuries of Nicolas Riou and Lac
      Métis, both located in the Bas-Saint-Laurent region, were sold to two newly
      formed limited partnerships created by Société de gestion d'actifs forestiers
      Solifor, s.e.c. Scotia Capital Inc. acted as exclusive financial advisor to
      AbitibiBowater for this sale process.
          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 24 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.
          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 U.S. Private Securities Litigation Reform Act of 1995. They
      include, for example, statements about our intention to divest three forest
      units. 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. These risks and uncertainties include, but are not limited to,
      the ability to divest the forest units on terms satisfactory to AbitibiBowater
      and its subsidiaries or at all, industry conditions generally impacting the
      attractiveness of these timberlands to potential purchasers, and the ability
      of potential purchasers to obtain any needed financing to complete a purchase
      of these units. All forward-looking statements in this news release are
      expressly qualified by information contained in AbitibiBowater's filings with
      the U.S. Securities and Exchange Commission 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,