AbitibiBowater Completes Sale of Snowflake Mill

On April 10, 2008, AbitibiBowater announced that it completed the sale of its Snowflake, Arizona, assets for a purchase price of $161 million to a subsidiary of Catalyst Paper Corporation. The facility has an annual production capacity of approximately 375,000 tonnes of newsprint.

AbitibiBowater produces a wide range of newsprint and commercial printing papers, market pulp and wood products. It is the eighth largest publicly traded pulp and paper manufacturer in the world. AbitibiBowater now owns or operates 27 pulp and paper facilities and 35 wood products facilities located in the United States, Canada, the United Kingdom and South Korea. Marketing its products in more than 90 countries, the Company is also among the world's largest recyclers of newspapers and magazines, and has more third-party certified sustainable forest land than any other company in the world. The Company's shares trade under the stock symbol ABH on both the New York Stock Exchange and the Toronto Stock Exchange.

AbitibiBowater was represented in-house by a team led by Mélanie Allaire and including Alice Minville and Sophie Rossignol, and by outside counsel Davies Ward Phillips & Vineberg LLP with a team from Montréal comprised of Sébastien Savage, Annie Beaudoin, and Christopher Karambatsos (commercial and real estate), Olivier Désilets and Brian Kujavsky (commercial and securities) and from New York comprised of Steve Levin, Harry Heching and Jimmy Khan (commercial and real estate) and Peter Glicklich and Candice Turner (tax).

Catalyst was represented in-house by Valerie Seager and by outside counsel Fried, Frank, Harris, Shriver & Jacobson LLP with a team comprised of Jeffrey Bagner, Tristram Cleminson and Ryan Williams.