Quebecor World Continues to Pursue Financing Options

MONTREAL, CANADA (NYSE: IQW) today announced that with the assistance of its independent financial advisor, it continues to actively pursue financing options and solutions to its liquidity and balance sheet challenges and to explore various strategic alternatives.

In addition, Quebecor World announced today that to facilitate its undertaking for financing initiatives, it has obtained from its banking syndicate and the sponsors of its North American securitization program waivers until March 31, 2008 from compliance with certain financial tests under the relevant agreements in respect of the quarter ended December 31, 2007, in particular, the maximum Debt-to-EBITDA ratio of 4.50:1.00. These waivers are subject to a number of conditions including (1) the Company having obtained, on or before January 15, 2008, U.S.$125 million of new financing and (2) the Company delivering, on or before January 31, 2008, a "Refinancing Transaction", being comprised of commitments or other arrangements satisfactory to the Company's lenders which would reduce the Company's current credit facility to U.S.$500 million by February 29, 2008 and further allow the repayment in full of the Company's current credit facility and the concurrent termination of the Company's North American securitization program on or before June 30, 2008.

In connection with the foregoing, the Company is in active discussions with major financial institutions in respect of financing alternatives that could satisfy the conditions under the aforementioned waivers, although no firm commitments have been obtained as of the date of this release and there can be no assurance that such financing commitments will be obtained.

Forward looking statements

This press release may include "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Company, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made have on the Company's business. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset writedowns or other charges announced or occurring after forward-looking statements are made.

Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available at www.sedar.com, www.sec.gov and www.quebecorworld.com. In particular, further details and descriptions of these and other factors are disclosed in the "Risks and Uncertainties related to the Company's business" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2006, and the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2006.

The forward-looking statements in this press release reflect the Company's expectations as of December 31, 2007 and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.

About Quebecor World

Quebecor World Inc. (TSX: IQW)(NYSE: IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The Company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies and other value-added services. Quebecor World has approximately 28,000 employees working in more than 115 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, Switzerland and the United Kingdom.

Contacts: Quebecor World Inc. Tony Ross Vice President, Communications 514-877-5317 800-567-7070 Quebecor World Inc. Roland Ribotti Vice President, Investor Relations and Assistant Treasurer 514-877-5143 800-567-7070