Abitibi Bowater Received $100 Million

Montreal, PQ -- Late Wednesday, AbitibiBowater received financing in the amount of $100 million, to continue operations as the company continues restructuring under bankrupty protection. AbitibiBowater Inc. ( AbitibiBowater or the Company ) and its Abitibi-Consolidated Inc. ( Abitibi ) subsidiary today announced that an order from the Québec Superior Court in Canada has been obtained authorizing Abitibi to enter into a loan agreement with Bank of Montreal for debtor-in-possession financing which will be guaranteed by Investissement Québec (the Abitibi DIP Agreement ). The Abitibi DIP Agreement will support AbitibiBowater's business continuity by providing additional short-term liquidity while the Company continues to develop its restructuring plan. The Abitibi DIP Agreement will be among Abitibi, as borrower, and Bank of Montreal, as lender, and will be guaranteed by Investissement Québec, as sponsor. The Abitibi DIP Agreement will provide for borrowings in an aggregate principal amount of up to $100 million for Abitibi (the DIP Facility ), of which a minimum undrawn availability of $12.5 million must be maintained at all times.The outstanding principal amount of loans under the DIP Facility, plus accrued and unpaid interest, will be payable in full at the earliest of: (i) November 1, 2009; (ii) the effective date of a plan of reorganization under the Companies' Creditors Arrangement Act in Canada or Chapter 11 of the United States Bankruptcy Code in the U.S.; and (iii) certain other events.More information about AbitibiBowater's restructuring process can be found online at www.abitibibowater.com or by calling toll-free 888-266-9280. International callers can call 503-597-7698.