Business News

ABITIBIBOWATER CONFIRMS TSX DELISTING REVIEW

Tuesday 24. March 2009 - AbitibiBowater confirmed today that its common shares (TSX: ABH) and the exchangeable shares of AbitibiBowater Canada Inc. (TSX: AXB) are under delisting review by the Toronto Stock Exchange (the "TSX").

In connection with the Company’s previously announced recapitalization proposal for its Abitibi-Consolidated Inc. subsidiary, the New York Stock Exchange (the “NYSE”) accepted the Company’s application to utilize an exception from the NYSE’s shareholder approval requirements based on the Company’s determination that the time necessary to seek shareholder approval prior to the commencement of the recapitalization would seriously jeopardize the Company’s financial viability. AbitibiBowater intends to rely on a similar exemption from the TSX shareholder approval requirements. AbitibiBowater understands that such a delisting review by the TSX is customary when a listed company relies on such an exemption.

AbitibiBowater expects that its common shares and the exchangeable shares of AbitibiBowater Canada Inc. will continue to trade in the ordinary course during the TSX’s review process.