AbitibiBowater Reaches Settlement with Canada for C$130 Million

MONTREAL—Aug. 24, 2010—AbitibiBowater today announced a formal settlement agreement with the Government of Canada with regards to its assets and rights in Newfoundland and Labrador, Canada, expropriated by the provincial government under Bill 75 in December 2008. The Government of Canada will pay AbitibiBowater C$130 million, representing not more than the fair market value of those rights and assets, following the company's emergence from creditor protection.