News release Quebecor inc.

CDP Capital d’Amérique Investissements Inc. launches proposed secondary private placement of Quebecor Inc. 4.125% convertible unsecured subordinated debentures due 2018

Private Equity Montréal (Québec),
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Quebecor Inc. and Caisse de dépôt et placement du Québec today announced the proposed secondary private placement by CDP Capital d’Amérique Investissements Inc. (“CDP Capital”), a subsidiary of the Caisse de dépôt et placement du Québec (“Caisse”), of C$200,000,000 aggregate principal amount of Quebecor’s 4.125% convertible unsecured subordinated debentures due 2018 (the “Debentures”). All of the Debentures are being sold by CDP Capital. Quebecor will not receive any proceeds from the sale of the Debentures in this secondary private placement, which is part of the transaction announced on October 3, 2012 allowing the Caisse to rebalance its portfolio by disposing of part of this significant position in the media and telecommunications industry.

This press release is not an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933 or applicable state securities laws, and the securities may not be offered or sold in the United States absent registration or an applicable exemption from registration.  The securities mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the debentures in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.

Cautionary Statement regarding Forward Looking Statements

The statements in this press release that are not historical facts are forward looking statements and are subject to significant known and unknown risks, uncertainties and assumptions that could cause the Corporation’s actual results for future periods to differ materially from those set forth in the forward looking statements. Forward looking statements may be identified by the use of the conditional or by forward looking terminology such as the terms "plans," "expects," "may," "anticipates," "intends," “estimates," "projects," "seeks," "believes" or similar terms, variations of such terms or the negative of such terms. Certain factors that may cause actual results to differ from current expectations include seasonality (including seasonal fluctuations in customer orders), operating risk (including fluctuations in demand for Quebecor's products and pricing actions by competitors), insurance risk, risks associated with capital investment (including risks related to technological development and equipment availability and breakdown), environmental risks, risks associated with labour agreements, risks associated with commodities and energy prices (including fluctuations in the cost and availability of raw materials), credit risk, financial risks, debt risks, risks related to interest rate fluctuations, foreign exchange risks, risks associated with government acts and regulations, risks related to changes in tax legislation, and changes in the general political and economic environment. Investors and others are cautioned that the foregoing list of factors that may affect future results is not exhaustive and that undue reliance should not be placed on any forward looking statements. For more information on the risks, uncertainties and assumptions that could cause Quebecor's actual results to differ from current expectations, please refer to Quebecor's public filings available at www.sedar.com and www.quebecor.com including, in particular, the "Risks and Uncertainties" section of Quebecor's Management Discussion and Analysis for the year ended December 31, 2012.  Quebecor 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, except as required by applicable securities laws.

About Quebecor

Quebecor Inc. (TSX:QBR.A, TSX:QBR.B) is a holding company with a 75.4% interest in Quebecor Media Inc., one of Canada’s largest media groups, with more than 16,000 employees. Quebecor Media Inc., through its subsidiary Videotron Ltd., is an integrated communications company engaged in cable television, interactive multimedia development, Internet access services, cable telephony and mobile telephony. Through Sun Media Corporation, Quebecor Media Inc. is the largest publisher of newspapers in Canada. It also operates Canoe.ca and its network of English- and French-language Internet properties in Canada. In the broadcasting segment, Quebecor Media Inc. operates, through TVA Group Inc., the number one French language conventional television network in Québec, a number of specialty channels and, through Sun Media Corporation, the English-language SUN News channel. Another subsidiary of Quebecor Media Inc., Nurun Inc., is a major interactive technologies and communications agency with offices in Canada, the United States, Europe and Asia. Quebecor Media Inc. is also active in magazine publishing (Publications TVA Inc.), book publishing and distribution (Sogides Group Inc., CEC Publishing Inc.), the production, distribution and retailing of cultural products (Archambault Group Inc., TVA Films), sporting and cultural event management (Event Management Gestev Inc.), video game development (BlooBuzz Inc.), DVD, Blu-ray disc and videogame rental and retailing (Le SuperClub Vidéotron ltée), the printing and distribution of community newspapers and flyers (Quebecor Media Printing Inc., Quebecor Media Network Inc.), outdoor advertising (Quebecor Media Out of Home), news content production and distribution (QMI Agency), and multiplatform advertising solutions (Quebecor Media Sales).

About the Caisse de dépôt et placement du Québec

The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2012, it held $176.2 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity, infrastructure and real estate globally. For more information: www.cdpq.com.

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