News Releases

    • AbitibiBowater announces preliminary results of private debt exchange offer
          ABH (TSX, NYSE)
          MONTREAL, March 27 /CNW Telbec/ - AbitibiBowater Inc. announced today
      that the withdrawal rights of noteholders in the exchange offers by
      Abitibi-Consolidated Company of Canada ("ACCC"), an indirect subsidiary of
      AbitibiBowater, expired at 5:00 p.m. New York City time, on March 27, 2008.
      These exchange offers are for the 6.95% Senior Notes due 2008, 5.25% Senior
      Notes due 2008 and 7.875% Senior Notes due 2009. As of the withdraw deadline,
      approximately 89.3% of the outstanding 6.95% Senior Notes, 91.8% of the
      outstanding 5.25% Senior Notes and 93.2% of the outstanding 7.875% Senior
      Notes had been validly tendered in the exchange offers. Based on these
      preliminary results, ACCC has elected to waive the minimum tender condition
      with respect to the exchange offers. The exchange offers expire at
      12:00 midnight, New York City time, on April 4, 2008.
          The exchange offers are being made only to qualified institutional buyers
      and institutional accredited investors inside the United States and to certain
      non-U.S. investors located outside the United States.
          This press release shall not constitute an offer to sell or the
      solicitation of an offer to buy any security and shall not constitute an
      offer, solicitation or sale in any jurisdiction in which such offering,
      solicitation or sale would be unlawful.
          About AbitibiBowater
          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. Following the required
      divestiture agreed to with the U.S. Department of Justice, AbitibiBowater will
      own or operate 27 pulp and paper facilities and 35 wood products facilities
      located in the United States, Canada, the United Kingdom and South Korea.
      Marketing its products in more than 90 countries, AbitibiBowater is also among
      the world's largest recyclers of 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 report 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 Company's timetable for the exchange offer.
      Forward-looking statements may be identified by the use of forward-looking
      terminology such as the words "will" and "expect" and other terms with similar
      meaning indicating possible future events or potential impact on the business
      or other stakeholders of the Company 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 satisfy the conditions of the exchange offers,
      the ability to obtain additional new financing on terms satisfactory to the
      Company and Abitibi-Consolidated or at all, the condition of the U.S. credit
      and capital markets generally, worsening industry conditions and the ability
      to meet the required closing conditions.
          Additional factors are detailed from time to time in the Company'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, as amended, for year ended December 31,
      2007, each under the caption "Risk Factors." All forward-looking statements in
      this report are expressly qualified by information contained in the Company's
      filings with the SEC and the Canadian securities regulatory authorities. The
      Company disclaims any obligation to update or revise any forward-looking
      For further information:
      For further information: For Investors: Duane Owens, Vice President and
      Treasurer, (864) 282-9488; For Media: Seth Kursman, Vice President,
      Communications and Government Affairs, (514) 394-2398,