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AbitibiBowater announces preliminary results of private debt exchange offer

Friday 28. March 2008 - 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

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.