Statement on AbitibiBowater

December 22, 2008

We are aware of media reports that the Province of Newfoundland and Labrador has taken action, including passing legislation, to take control of assets relating to AbitibiBowater’s operations in the province.

We are currently in the process of collecting more information regarding the matter, and have been in contact with federal, provincial, and company officials.

We are always concerned whenever U.S. companies operating overseas encounter difficulties, whether commercial or legal, and we are following closely the action that the provincial government appears to have taken in this case.

We understand that AbitibiBowater is a U.S. company, incorporated in the state of Delaware.

While we will not opine on the nature of any legal rights AbitibiBowater may have, we are seeking more information about the provincial government’s explicit legislative statement that it was expropriating certain of its rights and assets, possibly without compensation.

Embassy of the United States of America
Ottawa, Canada