News Releases

    • AbitibiBowater Announces Sale of Snowflake Mill
          ABH (TSX, NYSE)
          MONTREAL, Feb. 11 /CNW Telbec/ - AbitibiBowater today announced that it
      has signed a definitive agreement with Catalyst Paper Corporation (TSX: CTL)
      for the sale of its Snowflake, Arizona, assets for cash consideration of
      $161 million, excluding working capital of approximately $19 million retained
      by AbitibiBowater. The facility has an annual production capacity of
      approximately 375,000 tonnes of newsprint.
          The closing of this transaction is required to comply with the
      requirements set by the U.S. Department of Justice in October 2007 for
      approval of the Abitibi-Consolidated/Bowater combination. AbitibiBowater plans
      to use the proceeds from this sale to repay debt and for general corporate
          The sale of the Snowflake mill is subject to customary closing
      conditions, including a financing contingency which is expected to be
      satisfied in part by a fully backstopped rights offering. The sale is expected
      to close in the second quarter.
          AbitibiBowater produces a wide range of newsprint and 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 28 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, the Company 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. The Company'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 our planned use of proceeds from the sale of the
      Snowflake mill and the expected completion and timing of the sale.
      Forward-looking statements may be identified by the use of forward-looking
      terminology such as the words "will", "could", "expect", "believe",
      "anticipate", and other terms with similar meaning indicating possible future
      events or actions or potential impact on the business or stockholders of
          These forward-looking statements are not guarantees of future
      performance. They are based on management's 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, a delay in the
      closing of the sale, the receipt of required regulatory approvals, and the
      satisfaction of various conditions to closing (including the financing of the
      purchase price by Catalyst). Additional factors that could cause actual
      results to differ materially from our expectations are listed from time to
      time in AbitibiBowater's filings with the Securities and Exchange Commission
      and the Canadian securities regulatory authorities, including those factors
      contained in the Company's Quarterly Report on Form 10-Q for the quarterly
      period ended September 30, 2007, and the Company's registration statement on
      Form S-3 filed on October 29, 2007, under the caption "Risk Factors". All
      forward-looking statements in this news release are expressly qualified by
      information contained in the Company's filings with the Securities and
      Exchange Commission and the Canadian securities regulatory authorities.
      AbitibiBowater disclaims any obligation to update or revise these
      forward-looking statements.
      For further information:
      For further information: Investors: Duane Owens, Vice President and
      Treasurer, (514) 394-3268,; Media and Others:
      Seth Kursman, Vice President, Communications and Government Affairs, (514)