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Abitibi-Consolidated and Bowater Provide Merger Update
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Montreal, Quebec, Canada, and Greenville, South Carolina, USA, 18 September 2007 -- /PRNewswire/ -- Abitibi-Consolidated Inc. (NYSE:ABY; TSX; A) and Bowater Incorporated (NYSE: BOW; TSX; BWX) today announced continued progress with the U.S. Department of Justice (DOJ) pertaining to their proposed combination. The companies reaffirmed their expectation that DOJ approval will be obtained within the next few weeks. As a result of this timeline, the closing is now anticipated for early in the fourth quarter.

The combined company, AbitibiBowater, will produce a wide range of newsprint and commercial printing papers, market pulp, and lumber products. It will be the eighth largest publicly traded pulp and paper manufacturer in the world. AbitibiBowater will own or operate 32 pulp and paper facilities and 35 wood product facilities located in the United States, Canada, the United Kingdom, and South Korea. It will also be among the world's largest recyclers of newspapers and magazines, and will have more third-party certified sustainable forest land than any other company in the world.

About Abitibi-Consolidated Inc.

Abitibi-Consolidated is a global leader in newsprint and commercial printing papers and a major producer of wood products, serving clients in some 70 countries from its 45 operating facilities. Abitibi-Consolidated is among the largest recyclers of newspapers and magazines in North America, diverting annually approximately 1.7 million metric tons of paper from landfills, and is an industry leader in Canada in terms of forest certification.

About Bowater Incorporated

Bowater Incorporated is a leading producer of coated and specialty papers and newsprint. In addition, the company sells bleached market pulp and lumber products. Bowater has 12 pulp and paper mills in the United States, Canada, and South Korea. In North America, it also operates one converting facility and owns 10 sawmills. Bowater's operations are supported by approximately 708,000 acres of timberlands owned or leased in the United States and Canada and 28 million acres of timber cutting rights in Canada. Bowater operates six recycling plants and is one of the world's largest consumers of recycled newspapers and magazines.


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