Quebecor World Receives Conversion Notices in Respect of 340,200 Series 5 Preferred Shares

MONTREAL, CANADA, Mar 30 (MARKET WIRE) --
Quebecor World Inc. today announced that, on or prior to March 27, 2009,
it received notices in respect of 340,200 of its remaining 1,440,064
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).

In accordance with the provisions governing the Series 5 Preferred
Shares, registered holders of such shares are entitled to convert all or
any number of their Series 5 Preferred Shares into a number of
Subordinate Voting Shares effective as of June 1, 2009 (the "Conversion
Date"), provided such holders gave notice of their intention to convert
at least 65 days prior to the Conversion Date. The Series 5 Preferred
Shares are convertible into that number of the Company's Subordinate
Voting Shares determined by dividing Cdn$25.00 together with all accrued
and unpaid dividends on such shares up to May 31, 2009 by the greater
of(i) Cdn$2.00 and (ii) 95% of the weighted average trading price of the
Series 5 Preferred Shares on the Toronto Stock Exchange during the period
of twenty trading days ending on May 28, 2009.

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 September 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 June
26, 2009.

Forward looking statements

To the extent any statements made in this press release contain
information that is not historical, these statements are forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, and are forward-looking information within the meaning of the
"safe harbor" provisions of applicable Canadian securities legislation
(collectively "forward-looking statements"). These forward-looking
statements relate to, among other things, prospects of Quebecor World
Inc.'s (the "Company") industry and its objectives, goals, strategies,
beliefs, intentions, plans, estimates, projections and outlook, and can
generally be identified by the use of words such as "may," "will,"
"expect," "intend," "estimate," "anticipate," "plan," "foresee,"
"believe" or "continue" or the negatives of these terms, variations on
them and other similar expressions. In addition, any statements that
refer to expectations, projections or other characterizations of future
events or circumstances are forward-looking statements. The Company has
based these forward-looking statements on its current expectations about
future events. Forward-looking statements do not take into account the
effect of transactions or other items announced or occurring after the
statements are made. For example, they do not include the effect of
dispositions, acquisitions, other business transactions, asset
write-downs or other charges announced or occurring after the
forward-looking statements are made.

Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that
these expectations will prove to have been correct, and forward-looking
statements inherently involve risks and uncertainties, and undue reliance
should not be placed on such statements. Certain material factors or
assumptions are applied in making forward-looking statements, including,
but not limited to, factors and assumptions relating to the Company's
ability to emerge from the insolvency proceedings, and actual results may
differ materially from those expressed or implied in such forward-looking
statements.

Important factors and assumptions as well as the Company's ability to
anticipate and manage the risks associated therewith that could cause
actual results to differ materially from these expectations are detailed
from time to time in the Company's filings with the U. S. Securities and
Exchange Commission ("SEC") and the securities regulatory authorities in
Canada, available at www.sec.gov and www.sedar.com (copies of which are
available on www.quebecorworld.com). The Company cautions that any such
list of important factors that could affect future results is not
exhaustive. Investors and others should carefully consider the factors
detailed from time to time in the Company's filings with the SEC and the
securities regulatory authorities in Canada and other uncertainties and
potential events when relying on its forward-looking statements to make
decisions with respect to the Company.

The Company is currently subject to court protection under the Companies'
Creditors Arrangement Act in Canada ("CCAA"), and various U.S.
subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy
Code ("Chapter 11"). In light of the CCAA and Chapter 11 Proceedings, it
is unlikely that the Company's existing Multiple Voting Shares,
Redeemable First Preferred Shares and Subordinate Voting Shares will have
any material value following the approval of a final plan of arrangement.

Unless mentioned otherwise, the forward-looking statements in this press
release reflect the Company's expectations as of March 30, 2009, being
the date at which they have been approved, and are subject to change
after this date. The Company expressly disclaims any obligation or
intention to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise, unless required
by applicable securities laws.

About Quebecor World

Quebecor World Inc. (TSX: IQW) is a world leader in providing high-value,
complete marketing and advertising solutions to leading retailers,
catalogers, branded-goods companies and other businesses with marketing
and advertising activities, as well as complete, full-service print
solutions for publishers. The Company is a market leader in most of its
major product categories, which include advertising inserts and
circulars, catalogs, direct mail products, magazines, books, directories,
digital premedia, logistics, mail list technologies and other value-added
services. Quebecor World has approximately 20,000 employees working in
approximately 90 printing and related facilities in the United States,
Canada, Argentina, Brazil, Chile, Colombia, Mexico, and Peru.

Web address: www.quebecorworld.com

Contacts:
Quebecor World Inc.
Tony Ross
Vice President, Communications
514-877-5317
800-567-7070

Quebecor World Inc.
Roland Ribotti
Vice President, Corporate Finance and Treasurer
514-877-5143
800-567-7070

Copyright 2009, Market Wire, All rights reserved.

-0-