AbitibiBowater Emerges from Bankruptcy

The path for AbitibiBowater to emerge from creditor protection was set in motion following the entry of a confirmation order for the Company's chapter 11 plan of reorganization by the U.S. Bankruptcy Court for the District of Delaware and the sanction of the company’s CCAA plan of reorganization by the Quebec Superior Court on November 23 and Sept. 23, 2010, respectively. AbitibiBowater has closed $1,450 million in exit financing facilities that will be used to repay remaining debtor-in-possession credit facilities, honor obligations to secured creditors, make other payments required upon exit from creditor protection, and increase its already strong liquidity position.