Announces Senior Executive Succession Plan

MONTREAL, November 25, 2002 -- As part of its ongoing succession plan Quebecor World Inc. (NYSE:IQW) (TSX:IQW) is conducting an extensive succession plan review to ensure it has the necessary executive talent to lead and implement its global business plans going forward. This review process is being led by the Chairman of the Board and the Chief Executive Officer of the Corporation with the involvement of the Board of Directors.

On September 25, 2002, the Corporation announced the implementation of a new operating structure and senior leadership appointments. These senior leadership appointments were made to further strengthen the operating structure and to enhance customer service. Messrs. John Paloian and David Boles were appointed Co-Chief Operating Officers of Quebecor World North America.

Mr. Charles G. Cavell, President and Chief Executive Officer of the Corporation has informed the Board of Directors of his desire to announce his decision to retire at the Annual Meeting of Shareholders in April, 2003. In the meantime Mr. Cavell intends to focus much of his time and effort on the Company's long-term strategic direction while delegating more of the day-to-day operating management responsibilities to other individuals reporting to him.

To facilitate this process, on November 5, 2002, the Corporation announced the appointment of Mr. Michel Desbiens to the newly created position of Chief Executive Officer, International Operations. Prior to the merger in June 2000 of Donohue Inc. and Abitibi-Consolidated Inc., Mr. Desbiens was President and Chief Executive Officer of Donohue Inc., having led that corporation's growth in becoming one of the most important and profitable pulp and paper companies in the world.

It is expected that the organizational structure will continue to evolve whereby Messrs. Desbiens, Paloian and Boles will progressively assume full responsibility for the operating management of the Corporation. Mr. Cavell has committed to ensure a proper transition of his executive responsibilities over time. However, the specific timing and exact form of succession planning has not been finalized. Mr. Cavell currently intends to continue in his role as Chief Executive Officer of the Corporation until such time that a proper transition and succession plan are in place. This may require a transition period of up to one year, until on or about December 31, 2003. Mr. Cavell has agreed to remain a member of the Board of Directors and to act as a consultant to the Corporation following his retirement as an Officer of the Corporation.

"I have said many times that Quebecor World is greater than any single individual. I believe the process, people and management structure we have put into place will provide for an orderly transition and will allow us to continue to manage the Company in the best interests of our customers, employees and shareholders," commented Charles G. Cavell, President and CEO, Quebecor World. "I am strongly committed to this course and look forward to further developing the Company's long-range strategic direction to position it for greater growth in the years to come."

Mr. Christian M. Paupe, Executive Vice President, Chief Financial Officer and Chief Administrative Officer of the Corporation has informed the Board of Directors of his intention to explore other career opportunities. Mr. Paupe is committed to an orderly and proper transition of his responsibilities as Chief Financial Officer and Chief Administrative Officer of the Corporation and has informed the Chairman of his complete cooperation and ongoing availability, as required.

"Throughout my tenure at Quebecor World I have concentrated on promoting and developing first class financial management. Today the right team is in place to insure the Company's continued success," said Mr. Paupe. "During the next several months I will work with the CEO and the rest of the senior management team to facilitate an orderly transfer of our global corporate services."

A number of organizational changes were recently made in relation to the financial management of the Corporation. Mr. Denis Aubin, Senior Vice President, Corporate Finance and Treasury, will continue to have responsibility for treasury operations, client financial services, taxation, real estate and risk management. In addition, Mr. Aubin has assumed responsibility for investor relations and corporate communications. Effective November 1, 2002, Mr. Carl Gauvreau was appointed Senior Vice President and Chief Accounting Officer reporting to Mr. Paupe. In this role, Mr. Gauvreau has assumed responsibility for financial reporting, budgets, results and internal control. It is also expected that other areas of responsibility that currently report to Mr. Paupe such as global procurement, human resources, corporate development and legal services will progressively be transitioned to other executives such as Mr. Desbiens. Mr. Paupe has committed to continue his employment with the Corporation until or about May 31, 2003 or until such time as a new Chief Executive Officer is appointed by the Corporation.

The Right Honourable Brian Mulroney
Chairman of the Board, Quebecor World Inc

Quebecor World Inc. (NYSE; TSX: IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.

Signs CDN $240 Million Long-Term Agreement With Rogers Publishing

MONTREAL, November 21, 2002 -- Quebecor World Inc. (NYSE:IQW)(TSX:IQW) is pleased to announce it has signed a CDN $240 million new long-term agreement with Rogers Publishing. Under the terms of the agreement Quebecor World will print 100% of Rogers Publishing's magazines. Rogers is Canada's largest magazine publisher with 67 titles.

"We are very pleased to be building on our long-standing partnership with Rogers and we are proud they have the confidence in Quebecor World to make us their single source supplier for all their magazine titles," said Charles G. Cavell, President and CEO, Quebecor World Inc. "This is just one more example of Quebecor World's successful strategy of partnering with the leading players in all our business segments."

Rogers is a leading publisher of magazines in several categories including news, business, trade and women's publications. Some of Rogers better known titles include Chatelaine, Flare, Today's Parent, Macleans, L'actualite, Canadian Business and MoneySense.

"Quebecor World has consistently provided Rogers with the service, quality and flexibility we require to deliver the best product to our readers, " said Brian Segal, President and CEO, Rogers Publishing. "Our relationship with Quebecor World goes back many years and this new long-term agreement between two industry leaders guarantees it will continue for many years to come."

This new long-term contract forms a base that will allow both companies to investigate and develop new ways in which they can create new market strengths and new efficiencies that will advantage both partners.

The majority of the titles will be printed at Quebecor World's facilities in Aurora and Richmond Hill, Ontario. These facilities together represent the largest magazine/catalog platform in the Canadian marketplace.

Quebecor World Inc. (NYSE; TSX: IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.

Announces Results of Conversion of Series 2 Preferred Shares
Into Series 3 Preferred Shares

MONTREAL, November 19, 2002--Quebecor World Inc. (NYSE:IQW) (TSX:IQW) is pleased to announce that, after the close of business on November 18, 2002, holders of 11,463,851 Series 2 Cumulative Redeemable First Preferred Shares had elected to convert those shares into Series 3 Cumulative Redeemable First Preferred Shares. Starting December 1, 2002 these Series 3 Preferred Shares will pay, on a quarterly basis, as and when declared by the Board of Directors of Quebecor World Inc., a fixed cash dividend of 6.152% for the following five years.

Due to the overwhelming response, there will be less than one million Series 2 Preferred Shares outstanding after the conversion date (December 1, 2002). Consequently, in accordance with the Articles for the Series 2 Preferred Shares, all remaining Series 2 Preferred Shares will automatically be converted into Series 3 Preferred Shares as at the close of business on the conversion date.

Quebecor World Inc. (NYSE:IQW) (TSX:IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.

Announces Third Quarter Financial Results

MONTREAL, October 28, 2002--Quebecor World Inc. (NYSE:IQW) (TSX:IQW) today announced earnings per share for the third quarter 2002 of $0.64, which represents a 12% growth on a comparable basis to the same quarter last year. Net income for the quarter rose to $99 million and despite a continuing challenging global economic environment the Company generated $97 million of free cash flow in the quarter. The Company also announces an increase of $0.01 in the quarterly dividend rate, representing a yearly dividend rate of $0.52 compared with $0.48 currently.

"Our third quarter results demonstrate the strength of our Company, its management and its strategy going forward. We have been able to grow earnings and generate significant free cash flow despite one of the toughest economic climates in recent years," said Charles G. Cavell, President and CEO Quebecor World Inc.

Consolidated revenues for the third quarter were steady at $1.62 billion compared to $1.63 billion during the same period in 2001. In our largest market, North America, the operating margin was 11.9%, equal to the same period last year.

"Quebecor World's early focus on cost containment which was started last year, is allowing the Company to maintain industry leading margins despite reduced revenues in a competitive pricing environment," said Mr. Cavell. "With fewer but more specialized plants we are able to provide more effective service to our customers and greater benefits to our shareholders. With 10 facilities closed, our restructuring initiatives in North America are essentially completed and Quebecor World is uniquely positioned to produce even greater returns when the economy recovers."

In Europe revenues increased 17% to $248 million in the third quarter and operating margins also increased. Much of this was due to the Company's acquisition of the printing assets of Hachette Filipacchi and an improvement in our business outside France. The Company is still being impacted negatively by the underperformance of its French operations and expects to announce additional measures in the fourth quarter to reduce costs that will materially improve French results going forward.

In Latin America our business continues to grow. In the third quarter revenues increased 12% to $45 million, operating income tripled to $5.2 million and margins increased to 11.6%. During the quarter our facility in Mexico City completed delivery of the Mexico City telephone directories that are among the largest in the world. In all, the 3.6 million directories contain more than five billion pages. Our Latin American team is winning market share and continuing to leverage the Company's relationships with North American and European retailers and publishers demonstrating they can use our Latin American platform to improve delivery and reduce costs while ensuring consistent world level quality.

Free cash flow from operations was $97 million for the third quarter of 2002 and $443 million for the trailing 12 months ended September 30, 2002. For the period ending September 30, 2002, long-term debt was reduced by $268 million compared to the same period last year. On a year-to-date basis, financial expenses were $127.5 million, a 20% improvement compared with the same period last year due to reduced bank borrowings and lower rates of interest on long-term debt and securitization. This improvement reflects management's efforts to strengthen the Company's financial condition through tight management of working capital and capital spending requirements. This strategy has resulted in lower financial expense that has contributed to earnings per share. The Company intends to continue this strategy in the short term.

In recognition of the Company's strong earnings performance and strong financial position the Board of Directors is increasing its quarterly dividend $0.01 cent per share to $0.13 per share or $0.52 per share on an annualized basis on Multiple Voting Shares and Subordinate Voting Shares. The Board also declared a dividend of CDN$0.3125 per share on Series 2 Preferred Shares, CDN$0.4219 per share on Series 4 Preferred Shares and CDN$0.43125 on Series 5 Preferred Shares. The dividends are payable on December 1, 2002 to shareholders of record at the close of business November 15, 2002.

Quebecor World Inc. also announced today that it has filed its quarterly report for the quarter ended September 30, 2002 with the Securities and Exchange Commission. The report contains certifications from Charles G. Cavell, President and Chief Executive Officer and Christian M. Paupe, Executive Vice President, Chief Administrative Officer and Chief Financial Officer, that the periodic report fully complies with the Securities Exchange Act of 1934 and that the information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the company. These certifications are in accordance with the requirements of the Sarbanes-Oxley Act.

Quebecor World To Webcast Investor Conference Call on October 29, 2002

Quebecor World Inc. will broadcast its Third Quarter conference call live over the Internet on October 29, 2002 at 8:30 AM (EST).

The conference call, which will last approximately one hour, will be webcast live and can be accessed on the Quebecor World web site: http://www.quebecorworld.com/htmen/webcasts/Q302

Prior to the call please ensure that you have the appropriate software. The Quebecor World web address listed above has instructions and a direct link to download the necessary software, free of charge.

Anyone unable to attend this conference call may listen to the replay tape by phoning (416) 695-5800 or (800) 408-3053 passcode 1292132, available from October 29, 2002 to November 12, 2002.

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results.

Those risks include, among others, changes in customers' demand for the Company's products, changes in raw material and equipment costs and availability, seasonal changes in customer orders, pricing actions by the Company's competitors, and general changes in economic conditions.

Quebecor World Inc. (NYSE; TSX: IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.

Awarded Multi-Year Contract From L.L.Bean

GREENWICH, Conn., October 17, 2002--Quebecor World Inc. (NYSE:IQW)(TSX:IQW.TO) has been awarded a multi-year contract by L.L.Bean to print one hundred percent of its catalog program. The total sales under the duration of the new contract are expected to exceed $100 million. This represents a significant change by L.L.Bean, in giving one printer responsibility for its entire catalog production.

L.L.Bean, a 90 year old $1 billion retailer of apparel and outdoor gear, mails over 200 million catalogs per year, printed both offset and gravure in a variety of sizes and formats.

Steve Fuller, Vice President of Corporate Marketing at L.L.Bean stated, "Our decision to move all of our work to Quebecor World was made after a careful assessment of all marketplace options. The strength and diversity of Quebecor World's manufacturing platform offers us a level of flexibility that we feel is critical to the success of our catalog program." He added that, "Quebecor World's willingness to make additional significant capital investments in support of our work was also a deciding factor".

Quebecor World North America's Chief Operating Officer, John Paloian noted that, "We are delighted to have L.L.Bean recognize the value of single-sourcing their entire catalog print program with us. We are confident that Quebecor World's unique ability to provide total manufacturing and distribution solutions will continue to allow customers to benefit from significantly streamlined operations. We will invest appropriate resources on an on-going basis to further enable our customers to extract additional supply chain value."

Under the new contract, Quebecor World will also provide L.L.Bean with mail list services, as well as order form production. Quebecor World will produce the work in its Augusta, Georgia and Franklin, Kentucky plants. List management will be handled out of Quebecor World's Bensenville division.

Quebecor World Inc. (NYSE, TSX: IQW) is the largest commercial print media services company in the world. The Company is a leader in most of its major product categories, which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value-added services. The Company has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Belgium, France, the United Kingdom, Spain, Switzerland, Austria, Sweden, Finland, Brazil, Chile, Argentina, Peru, Colombia, Mexico and India.

Announces Second Quarter Results

MONTREAL, July 29, 2002--Quebecor World Inc. (NYSE:IQW; TSX:IQW.TO) today announced that net income for the first 6 months of 2002 increased 4% to $110 million compared to the same period in 2001. For the second quarter 2002 diluted earnings per share were $0.40 compared to $0.41 in the same quarter last year. Despite the continued weakness of the global advertising market, diluted earnings for the first six months of 2002 is $0.68, equal to the corresponding period in 2001. This year's results incorporate the new accounting rules relating to the non-amortization of goodwill.

Consolidated revenues for the second quarter were down slightly at $1.47 billion compared to $1.50 billion during the same period in 2001. Six months year to date revenues were $2.9 billion compared to $3.1 billion for the corresponding period in 2001. Consolidated revenues are down 2% for the 2nd quarter and 5% for the 6-month period compared to the previous year. The slightly lower revenue line is the net effect of continuing lower demand for print advertising and promotion and price pressures due to excess capacity, offset by significant new account gains and the acquisition of the Retail Printing Company in the US and the printing and binding assets of Hachette in Europe. However, the company's decision to restructure its operations during this slow period has resulted in fewer but larger and more specialized plants that are now delivering efficiencies. This coupled with strict cost containment and lower financial expense have allowed the company to improve net income in spite of the difficult market conditions.

"Our second quarter and year to date initiatives appear to be the right recipe for our business at this time. The steps we have taken to strengthen our business are permanent improvements and this will enhance our ability to capture the upside benefits when the market improves" said Charles G. Cavell, President and CEO of Quebecor World Inc.

Quebecor World as the world's largest commercial printer is able to achieve efficiencies from its economies of scale. During the quarter, the company has entered into a long-term agreement with Sears, Roebuck and Co. to integrate their paper requirements into the Quebecor World global procurement system. Marc Reisch, President and CEO of Quebecor World North America stated "We are very pleased that a company as large as Sears has recognized that our size, geographic scope and inventory management systems position us to enhance their entire supply chain."

Our European operations, excluding France, performed well and margins year-to-date were broadly comparable to our leading margins in North America. Europe, excluding France, also increased revenues and achieved operating income similar to last year. Complex social legislation in France including the 35-hour work week that resulted in increased labour costs, is inhibiting our ability to redress this situation as quickly as we did in the North and Latin American platforms in the context of difficult market conditions. Our French operations have historically been profitable and as such French law precludes restructuring. However with some facilities now reporting negative earnings, the Company is developing an action plan that is expected to result in further cost containment measures in France, including the regrouping of certain production facilities and discontinuing the operation of certain non-competitive technologies.

In Latin America revenues increased 18% and are up 27% for the six months ending June 30, 2002 over the corresponding prior year periods. Quebecor World continues to build its position as the leading printer in the region and is the only one offering an extensive multi-country manufacturing platform. This strategy is attracting local and international customers who are looking for an established, dependable supplier to help them expand their business in the region.

Free cash flow from operations was $40 million for the second quarter of 2002 and $287 million for the trailing 12 months ended June 30, 2002. On a year-to-date basis, financial expenses were $87.7 million, a 17% improvement compared with the same period last year due to reduced bank borrowings and lower rates of interest on long-term debt and securitization. This improvement reflects management's efforts to strengthen the Company's financial condition through tight management of working capital and capital spending requirements. This strategy has resulted in lower financial expense which has contributed to earnings per share. The Company intends to continue this strategy in the short-term.

The Board of Directors declared a dividend of ($0.12) per share on Multiple Voting Shares and Subordinate Voting Shares. The Board also declared a dividend of (CDN$0.3125) per share on Series 2 Preferred Shares, (CDN$0.4219) per share on Series 4 Preferred Shares and (CDN$0.43125) on Series 5 Preferred Shares. The dividends are payable on September 1, 2002 to shareholders of record at the close of business August 16, 2002.

Quebecor World To Webcast Investor Conference Call on July 30, 2002

Quebecor World Inc. will broadcast its Second Quarter conference call live over the Internet on July 30, 2002 at 8:30 AM (EDT).

The conference call, which will last approximately one hour, will be webcast live and can be accessed on the Quebecor World web site: http://www.quebecorworld.com/htmen/webcasts/Q202

Prior to the call please ensure that you have the appropriate software. The Quebecor World web address listed above has instructions and a direct link to download the necessary software, free of charge.

Anyone unable to attend this conference call may listen to the replay tape by phoning (416) 695-5800 or (800) 408-3053 passcode 1207070, available from July 30 to August 13, 2002.

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results.

Those risks include, among others, changes in customers' demand for the Company's products, changes in raw material and equipment costs and availability, seasonal changes in customer orders, pricing actions by the Company's competitors, and general changes in economic conditions.

Quebecor World Inc. (NYSE; TSX: IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.

In Agreement with Sears to Provide Paper Services

GREENWICH, Conn., July 23, 2002--Quebecor World (TSX:IQW) (NYSE:IQW) announced today that it has entered into a long-term agreement with Sears, Roebuck and Co. to furnish all the roll stock paper, which Sears uses for its national newspaper insert program. Quebecor World will begin providing these services immediately, resulting in supply chain benefits for all parties.

This new agreement expands Quebecor World's relationship with Sears, which dates back more than 50 years. Quebecor World currently prints Sears' entire national newspaper insert program, which supplies inserts to more than 865 newspapers nationwide, as well as some of Sears' other print programs. Quebecor World will now supply all roll stock paper for the same.

In commenting on the new agreement, Marc Reisch, President, Chairman and CEO, Quebecor World North America, stated, "We are very excited that a company as large as Sears recognizes that we are best positioned within their print production supply chain to streamline processes and provide paper management services for all of their printing needs. This is a large and important step for the entire supply chain, and we look forward to bringing substantial benefits to Sears, paper suppliers, and Quebecor World."

Paper will be sourced for 18 facilities at Quebecor World, in addition to certain facilities of other printers utilizing roll stock paper for producing Sears' work. Quebecor World and Sears will work with paper suppliers to maximize supply chain efficiency through specification management, inventory reduction, trim and asset utilization, and inbound logistics.

"This decision is another step in our continued drive to significantly improve the productivity of our marketing investment," said David Selby, Sears Senior Vice President, Marketing. "We're very comfortable partnering with Quebecor World and with its ability to continue to define more efficient and effective ways for Sears to connect with its customers."

In summarizing what this new arrangement represents, David Boles, President, Quebecor World Retail Group, said, "We are committed to bringing specialized business solutions to our customers, to help them retain a competitive edge in today's challenging marketplace. We will continue to bring the full spectrum of Quebecor World's products and services to our customers, in ways that positively impact their bottom line. Working with customers on supply chain optimization is a key strategy for our organization."

About Quebecor World, Inc.:

Quebecor World Inc. (NYSE, TSX: IQW) is the largest commercial print media services company in the world. The Company is a leader in most of its major product categories, which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value-added services. The Company has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Belgium, France, the United Kingdom, Spain, Switzerland, Austria, Sweden, Finland, Brazil, Chile, Argentina, Peru, Colombia, Mexico and India.

About Sears, Roebuck and Co:

Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2001, the company's annual revenue was more than $41 billion. The company offers its wide range of apparel, home and automotive products and services to families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a variety of merchandise and services through its Web site, www.sears.com. In June 2002, Sears acquired Lands' End, a direct merchant of traditionally styled, classic Lands' End clothing offered to customers around the world through regular mailings of its specialty catalogs.

Announces First Quarter Results Earnings Per Share of $0.28

GREENWICH, Conn., April 25, 2002--Quebecor World Inc. (NYSE:IQW)(TSE:IQW) today announced first quarter 2002 diluted earnings per share of $0.28. Revenues for the quarter were $1.46 billion down 7% compared to first quarter 2001 due to the continued weakness of the global advertising market. However, net income for the quarter increased by 8% to $46 million compared to $43 million last year. This year's results incorporate the new accounting rules relating to the non-amortization of goodwill.

Quebecor World's results from operations are starting to benefit from the Company's restructuring initiatives announced in October. Some North American Product Groups, which have largely completed their planned plant closures and staff reductions, are showing improved margins.

"I am pleased the savings and efficiencies planned for in the restructuring initiative are being reflected in our results," said Charles G. Cavell, President and CEO of Quebecor World. "The Company should benefit greatly when the market demand and advertising spending return to normal levels."

The restructuring initiatives announced in October 2001 are ahead of plan, with 10 facility closures already announced or completed. Management expects the restructuring plan will be substantially completed by the end of the Third Quarter, 2002, positioning Quebecor World to take full advantage of increasing operating leverage as the economy recovers. The current focus of management is to execute the 2001-2002 restructuring plan to improve efficiency and to improve the Company's financial condition through the reduction of bank borrowings.

In North America while magazine ad pages continue to be down year over year for the quarter, recent figures for March show an improving trend and we are hopeful this will lead to an upturn in the third and fourth quarter of 2002. Quebecor World continues to partner with the leading publishers and retailers in the industry and in 2001 we completed the largest transactions in the industry. In addition the Company had contract wins and renewals for such important customers as Brylane and Victoria's Secret.

After an extensive review of Quebecor World's goodwill it has been determined there is no impairment and therefore no financial correction required.

"Quebecor World is a company that has been built through acquisition, more than 85 during the last ten years. While we are looking at opportunities in all our geographies it is difficult to fully assess value in this market. Unlike many other companies, our goodwill has been determined to be fairly valued. This demonstrates that we buy when the price is right. This will continue to be our strategy going forward," said Mr. Cavell.

During the quarter Quebecor World completed the acquisition of the European printing assets of Hachette Filipacchi Medias. These assets consist of printing, binding and logistics facilities in France and a gravure plant in Belgium. Under the terms of the agreement Quebecor World has been awarded a long-term agreement to print many of Hachette publications in France, the right of first refusal on Hachette publications it doesn't already print and the right of first refusal on new publications in Europe.

Quebecor World's European revenues declined 7% compared to the same period in 2001 with the majority of the decrease attributed to France. The Company is implementing a cost reduction program. In Spain, Quebecor World signed its first European directory contract with Telefonica de Espana to provide approximately one-third of the telephone directories in Spain.

Our Latin American business continues to grow with revenues increasing 37% in the first quarter. Quebecor World is increasing market share in its leading directory and book platforms. The Company recently signed a directory contract with Telefonica, owned by Telefonica de Espana, to serve customers in Peru, Argentina and Brazil. QW Latin America now prints 58 billion directory pages a year for eight Latin American countries.

This is approximately twice as many pages as Quebecor World prints in Canada.

Quebecor World has also signed book contracts with several leading Latin American publishers including Editorial Estrada and AZ Editora in Argentina, Zamora Ediciones S.A. in Colombia, Rezza Editores S.A. de C.V. in Mexico and Editora Melhoramentos in Brazil. The combined value of the contracts is approximately $100 million over the life of the contracts. All are long-term contracts of more than three-years, a significant accomplishment for Quebecor World given that book publishers have historically chosen to award short-term contracts.

The Board of Directors declared a dividend of $0.12 per share on Multiple Voting Shares and Subordinate Voting Shares. The Board also declared a dividend of CDN$0.3125 per share on Series 2 Preferred Shares, CDN$0.4219 per share on Series 4 Preferred Shares and CDN$0.43125 on Series 5 Preferred Shares. The dividends are payable on June 1, 2002 to shareholders of record at the close of business May 16, 2002.

Quebecor World To Webcast Investor Conference Call on April 25, 2002 Quebecor World Inc. will broadcast its First Quarter conference call live over the Internet on Thursday, April 25, at 5:00 PM (EDT).

The conference call, which will last approximately one hour, will be webcast live and can be accessed on the Quebecor World web site: http://www.quebecorworld.com/htmen/webcasts/Q102

Prior to the call please ensure that you have the appropriate software. The Quebecor World web address listed above has instructions and a direct link to download the necessary software, free of charge.

Anyone unable to attend this conference call may listen to the replay tape by phoning (416) 695-5800 or (800) 408-3053 passcode 1143007, available from April 25th to May 9th, 2002.

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results.

Those risks include, among others, changes in customers' demand for the Company's products, changes in raw material and equipment costs and availability, seasonal changes in customer orders, pricing actions by the Company's competitors, and general changes in economic conditions.

Quebecor World Inc. (NYSE; TSE:IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Belgium, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.

Confirms Closing of Acquisition of Filipacchi Printing Assets in Europe

MONTREAL, March 14, 2002 -- Quebecor World Inc. (NYSE:IQW) (TSE:IQW) announced today that all necessary regulatory approvals have been obtained for the acquisition of the Hachette Filipacchi Medias printing assets in Europe and that it will now begin integrating these into its European platform.

The assets include printing and bindery facilities in France and Hachette's 50% ownership of Helio Charleroi in Belgium. Compagnie Nationale a Portefeuille (a public investment firm controlled by the Frere family of Belgium) will retain its 50% ownership of the facility until September 2004.

Hachette Filipacchi Medias is one of the world's leading publishers of consumer magazines and as part of the transaction it is entering into a long-term agreement with Quebecor World to print many of its magazines in Europe. The value is estimated to be $400 million over the term of the contracts, excluding paper.

"This type of acquisition with a printer/publisher that includes guaranteed work is ideal in that it benefits both companies," said Charles G. Cavell, President and CEO of Quebecor World Inc. "Hachette is able to concentrate on its core publishing business and we are able to grow our manufacturing platform with the security of a long-term enabling contract. This is a strategy we will continue to pursue in all our geographies."

The plants in France and Belgium operate long-run gravure presses printing magazines, catalogs and retail inserts. Some of the magazine titles include Paris Match, Elle, Parents, and two TV listing publications which are two of the largest weekly magazines in France with circulations of three and two million respectively.

"This transaction will strengthen our European platform," said Vincent Bastien, President Quebecor World Europe. "We are adding an excellent facility in a new country, Belgium and the addition of the Hachette equipment in France will allow us to produce Hachette magazines on a multi-plant platform thereby reducing delivery time."

Quebecor World Inc. (NYSE:IQW) (TSE:IQW) is the largest commercial print media services company in the world. The Company is a leader in most of its major product categories, which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value-added services. The Company has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Belgium, France, the United Kingdom, Spain, Switzerland, Austria, Sweden, Finland, Brazil, Chile, Argentina, Peru, Colombia, Mexico and India.

Announces Fourth-Quarter and Year End Results

MONTREAL, February 4, 2002 -- IQW (TSE:IQW.) (NYSE:IQW) Quebecor World Inc. today announced full-year 2001 diluted earnings per share before special restructuring and other special charges of $1.58 compared to $1.90 a year ago. This is in line with the Company's post September 11th guidance. For the fourth quarter, EPS was $0.45 compared to $0.69 last year. Revenues for the year were $6.3 billion compared to $6.5 billion in 2000 and operations generated $287 million of free cash flow in 2001.

Quebecor World achieved these results despite a significant drop in advertising spending, the economic shock of 9-11 and its aftermath. Even though ad spending was off almost every month from a record 2000 the Company aggressively managed costs and through August was on track to match its record performance. But this was not sustainable as a result of the economic drop-off in the fourth quarter.

"A precipitous drop like the one we saw in the last four months of this year had an extremely negative effect during a time when we traditionally earn 40 per cent of our operating income," said Charles G. Cavell, President and CEO of Quebecor World. "In 2001 magazine ad pages in the United States took their worst drop in 10 years. We reduce costs on an ongoing basis but we can't restructure our business overnight when hit with a catastrophic event."

Quebecor World's view is that the reduced volumes experienced in the fourth quarter of 2001 will continue in early 2002. As a result the Company announced a restructuring plan in October to take advantage of this period to reduce costs and improve operational efficiencies. The restructuring plan is based on putting the best equipment into larger and more specialized facilities. As a direct result Quebecor World expects to realize a pre-tax annualized earnings improvement of $45 million. Total cost of the restructuring is $270 million pre-tax, with a cash component of approximately $130 million.

"This is the first substantial non-acquisition related restructuring charge we have taken in our history," said Mr. Cavell. "At the same time we have reduced receivables in a challenging environment and lowered inventory levels. Once the plan is completed our lower cost base will allow us to better leverage our global manufacturing platform for our customers and shareholders."

For 2001, even though the drop in volume came at the busiest time of the year, Quebecor World was still able to maintain its industry leading operating margin of 9.8 per cent. Following the implementation of the 2001 restructuring plan, Quebecor World will be well-positioned to benefit from a recovery in advertising spending in its core North American market.

In 2001 Quebecor World produced significant free cash flow, $385 million in the fourth quarter and $287 million for the year. During the last three years the Company generated $1.6 billion of free cash. At the end of 2001 Quebecor World's debt-to-capitalization was 46:54.

Our European operations have been affected by the global slowdown particularly in France where there has also been a drop-off in advertising and volumes. However our Latin American business continues to grow. For the full year operating income increased 60%.

"We believe 2002, especially the first half, will be a challenge. In the short-term we will focus on reducing costs in all aspects of the Company and successfully implementing the relocation of assets that will pay big dividends in the future. We will use free cash flow to continue to pay down debt," said Mr. Cavell. "Quebecor World made several niche acquisitions in 2001 that enhanced existing platforms or were transactions with publishers/printers that came with enabling contracts. In this unstable economic environment it is difficult to assess value. We will continue to survey the landscape in all our geographies but will likely only make smaller niche acquisitions or those with publishers/printers that include guaranteed long-term contracts. However we are certain this economic downturn will eventually create acquisition opportunities because other companies do not benefit from the same geographic and product diversity that is allowing us to significantly weather the storm."

Board of Directors declared a dividend of $0.12 per share on Multiple Voting Shares and Subordinate Voting Shares. The Board also declared a dividend of CDN$0.3125 per share on Series 2 Preferred Shares, CDN$0.4219 per share on Series 4 Preferred Shares and CDN$0.43125 on Series 5 Preferred Shares. The dividends are payable March 1st, 2002 to shareholders of record on February 13, 2002.

Quebecor World To Webcast Investor Conference Call on February 5, 2002

Quebecor World Inc. will broadcast its Fourth Quarter conference call live over the Internet on Tuesday, February 5 at 8:30 AM (EDT).

Earnings Guidance

Taking into account our conservative outlook with regard to acquisitions and the fact that management does not believe business in its core North American market will pick up before the second half of 2002 management is reconfirming guidance in the range of $1.85-to-$2.00 earnings per share for 2002.

The conference call, which will last approximately one hour, will be webcast live and can be accessed on the Quebecor World web site:

http://www.quebecorworld.com/htmen/conference-call

Prior to the call please ensure that you have the appropriate software. The Quebecor World web address listed above has instructions and a direct link to download the necessary software, free of charge.

Anyone unable to attend this conference call may listen to the replay tape by phoning (416) 695-5800 or (800) 408-3053 passcode 1049837, available from February 5 to February 19, 2002.

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, changes in customers' demand for the Company's products, changes in raw material and equipment costs and availability, seasonal changes in customer orders, pricing actions by the Company's competitors, and general changes in economic conditions.

Quebecor World Inc. (NYSE; TSE:IQW) is the largest commercial printer in the world. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World Inc. has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, Brazil, France, the United Kingdom, Spain, Austria, Sweden, Switzerland, Finland, Chile, Argentina, Peru, Colombia, Mexico and India.