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

Friday 27. February 2009 - Quebecor World Inc. (TSX:IQW) today announced that it has determined the final conversion rate applicable to the 256,364 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 March 2, 2009.

Taking into account all accrued and unpaid dividends on the Series 5 Preferred Shares up to and including March 1, 2009, 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 March 2, 2009 into 13.79375 Subordinate Voting Shares. Registered holders of Series 5 Preferred Shares who submitted notices of conversion on or prior to December 29, 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. 3,536,220 new Subordinate Voting Shares will thus be issued by Quebecor World to holders of Series 5 Preferred Shares effective as of March 2, 2009.