Abitibi-Consolidated and AbitibiBowater undertake to postpone earliest exchangeable share redemption date

Jul 27, 2007. /Lesprom Network/. Abitibi-Consolidated Inc. and Bowater Incorporated announced on July 26, 2007 that Abitibi-Consolidated and AbitibiBowater have undertaken, subject to the closing of the combination of Abitibi-Consolidated and Bowater, to cause the earliest date on which all outstanding non-voting exchangeable shares may be called for redemption by the board of directors of Bowater Canada Inc., an exchangeable share public subsidiary of Bowater, subject to certain exceptions, to be postponed to June 30, 2026, from the June 30, 2018 date contemplated in the form of articles of amendment of Bowater Canada approved at a meeting of its shareholders held on July 25, 2007. The combined company, which will be called AbitibiBowater Inc. will produce a wide-range of newsprint and commercial printing papers, market pulp and lumber products. It will be the eighth largest pulp and paper manufacturer in the world. AbitibiBowater will own or operate 32 pulp and paper facilities and 35 wood product facilities located in the U.S., Canada, the United Kingdom and South Korea. It will also be among the world's largest recyclers of newspapers and magazines, and a global leader in sustainable forest management through independent third-party certification.