AbitibiBowater Emerges from Bankruptcy

• Completed a strategic review and sold non-core assets and land holdings for total aggregate proceeds of over $940 million.

• Reduced its debt burden by 88 percent from $6.8 billion to $850 million, excluding approximately $239 million in non-recourse joint-venture debt for ACH Limited Partnership. This Company is currently in the process of evaluating the potential sale of ACH.