IQW.PR.C Conversion Rate Slowing

Quebecor World has announced:

that, on or prior to September 26, 2008, it received notices in respect of 66,601 of its remaining 1,763,029 issued and outstanding Series 5 Cumulative Redeemable First Preferred Shares (TSX: IQW.PR.C) (the “Series 5 Preferred Shares”) requesting conversion into the Company’s Subordinate Voting Shares (TSX: IQW).

The next conversion date on which registered holders of the Series 5 Preferred Shares will be entitled to convert all or any number of such shares into Subordinate Voting Shares is March 1, 2009, and notices of conversion in respect thereof must be deposited with the Company’s transfer agent, Computershare Investor Services Inc., on or before December 29, 2008.

There were 744,124 shares converted at the last opportunity.

IQW.PR.C is tracked by HIMIPref™. It is included in the “Scraps” index; it would normally be in the “Operating Retractible” index, but there are credit concerns.

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