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Quebecor World Announces Final Conversion Rate for Conversion of Series 5 Preferred Shares

Monday 01. December 2008 - Quebecor World Inc. (TSX: IQW) today announced that it has determined the final conversion rate applicable to the 66,601 Series 5 Cumulative Redeemable First Preferred Shares (TSX: IQW.PR.C) (the "Series 5 Preferred Shares") that will be converted into Subordinate Voting Shares effective as of December 1, 2008.

Taking into account all accrued and unpaid dividends on the Series 5 Preferred Shares up to and including December 1, 2008, Quebecor World has determined that, in accordance with the provisions governing the Series 5 Preferred Shares, each Series 5 Preferred Share will be converted effective as of December 1, 2008 into 13.578125 Subordinate Voting Shares. Registered holders of Series 5 Preferred Shares who submitted notices of conversion on or prior to September 26, 2008 will receive in the coming days from Quebecor World’s transfer agent and registrar, Computershare Investor Services Inc., certificates representing their Subordinate Voting Shares resulting from the conversion. 904,316 new Subordinate Voting Shares will thus be issued by Quebecor World to holders of Series 5 Preferred Shares effective as of December 1, 2008.