Information on Abitibi's unsolicited insider bid

Important message for Fibrek shareholders: Fibrek's board unanimously recommends that shareholders reject the abitibi bid and not tender their shares.

On December 15, 2011, AbitibiBowater Inc., doing business as Resolute Forest Products ("Abitibi") launched an unsolicited insider bid to purchase all of the issued and outstanding common shares of Fibrek Inc. for either C$0.55 in cash and 0.0284 of an Abitibi share or C$1.00 in cash (subject to proration) or 0.0632 of an Abitibi share (subject to proration).

The Fibrek Board of Directors has carefully reviewed and considered the Abitibi insider bid and unanimously recommends that Fibrek's shareholders REJECT the offer and NOT TENDER their shares. If you have already tendered your shares, you should WITHDRAW them immediately.

A full description of the reasons for the Board's recommendation can be found in the Directors' Circular of Fibrek dated December 26, 2011.

Shareholders: to find out more about why you should REJECT the offer please consult the Q&A now available

• Fibrek Shareholders: Updated Questions and Answers about the Abitibi Insider Bid

Information on the abitibi insider bid:

• February 16 release: Fibrek fights for the right of its shareholders to accept a superior offer: Company to vigorously oppose Abitibi's application to cease trade the $1.30 Mercer offer
• February 14 release: Fibrek provides update on shareholder rights plan
• February 10 release: Mercer International Inc. enters into a support agreement to acquire Fibrek Inc.
• February 10 release: Fibrek provides update on the Bureau de décision et de révision ruling
• February 6 release: Fibrek receives independent formal valuation and provides update on strategic alternatives review process
• February 3 release: Update on strategic alternatives review process
• January 19 release: Fibrek to oppose AbitibiBowater's application to strike down its shareholder rights plan
• January 3 release: Fibrek files directors' circular rejecting the AbitibiBowater insider bid
• December 19 release: Fibrek's board rejects unsolicited insider bid by AbitibiBowater and takes additional measures to ensure shareholders are treated fairly
• November 30 release: Fibrek initiates review of strategic alternatives
• November 29 release: Fibrek acknowledges announcement of unsolicited take-over bid by Resolute Forest Products
• Director's circular
• Letter from the Chairman and the CEO

For more information:

Shareholders can contact Phoenix Advisory Partners, Fibrek's information agent with any questions, requests or any other inquiries regarding the bid.

Tel: 1-800-398-1129 (North American Toll Free)
Email: inquiries@phoenixadvisorypartners.com