News Releases

    • AbitibiBowater Addresses NYSE Listing Standards
          ABH (NYSE, TSX)
          MONTREAL, Dec. 18 /CNW Telbec/ - AbitibiBowater announced today that it
      has received notification from the New York Stock Exchange ("NYSE") that the
      Company has fallen below its continued listing criteria. The average closing
      price of its common stock was less than $1.00 over a consecutive 30-day
      trading period.
          The Company has a period of six months from the date of notification,
      with a possible extension, to bring the average share price back above $1.00.
      Under NYSE rules, AbitibiBowater's common stock will continue to be listed on
      NYSE during this period, subject to the Company's compliance with other NYSE
      continued listing requirements. AbitibiBowater plans to notify NYSE that it
      intends to cure the deficiency, although there can be no assurance that the
      Company will be able to bring its share price back above $1.00 or will remain
      in compliance with other NYSE continued listing standards.
          "Our stock price has been pressured by an unprecedented period of
      economic difficulty and market uncertainty that is impacting many companies
      and their share price performance in our industry and others," stated David J.
      Paterson, President and Chief Executive Officer of AbitibiBowater.
          "We are taking proactive steps to address the matter and are encouraged
      by our quarter-over-quarter improvements and the progress we have made and
      continue to make in improving our operating and financial performance. The
      Company remains committed to its $1 billion debt-reduction target and is
      currently exploring several options to address upcoming debt maturities,
      inclusive of asset sales," added Paterson.
          AbitibiBowater's common stock remains listed on NYSE under the symbol
      "ABH" but will be assigned a ".BC" symbol extension to signify that the
      Company is not currently in compliance with NYSE's continued listing
          The Company continues to be in compliance with the listing requirements
      of the Toronto Stock Exchange.
          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 25 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 more third-party
      certified sustainable forest land than any other company in the world.
      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 Private Securities Litigation Reform Act of 1995. They include,
      for example, statements about planning to cure the deficiencies and returning
      to compliance with NYSE continued listing requirements 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 Company's ability
      to achieve compliance with continued listing standards that will be
      satisfactory to the NYSE, the risk that the Company could fail to comply with
      other NYSE continued listing requirements, which could result in immediate
      delisting of the Company's common stock, the Company's ability to improve its
      operating and financial performance, the Company's ability to meet its $1
      billion debt reduction target, the Company's ability to divest assets on
      satisfactory terms, the Company's efforts to address its upcoming debt
      maturities, the Company's ability to refinance or amend the terms of its
      current indebtedness on satisfactory terms, the condition of the U.S. credit
      and capital markets generally. Additional factors are detailed from time to
      time in AbitibiBowater's filings with the Securities and Exchange Commission
      (SEC) and the Canadian securities regulatory authorities, including those
      factors contained in the Company's Annual Report on Form 10-K/A for the year
      ended December 31, 2007, filed with the SEC on March 20, 2008, and the
      Company's Quarterly Report on Form 10-Q for the period ended September 30,
      2008, filed with the SEC on November 14, 2008, under the caption "Risk
      Factors" in each respective report. All forward-looking statements in this
      news release are expressly qualified by information contained in the Company'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,