AbitibiBowater Emerges from Bankruptcy

MONTREAL—Dec. 9, 2010—AbitibiBowater is pleased to announce that it has successfully completed its reorganization and has emerged from creditor protection under the Companies’ Creditors Protection Act (or “CCAA”) in Canada and Chapter 11 of the U.S. Bankruptcy Code (or “Chapter 11”).

“Through our restructuring efforts, we have transformed this organization and given AbitibiBowater a new future—one driven by a company-wide commitment to profitability and sustainability,” stated David J. Paterson, President and CEO. “By strengthening our competitiveness and dramatically improving our financial position, AbitibiBowater has become one of the lowest cost forest products companies in North America. We are now a leaner, more flexible organization with a balanced product portfolio, better able to create value for our stakeholders while responding to the challenges of a tough industry with ongoing market volatility.”