Bowater Named Among World's Best Managed Companies.

Business Editors

GREENVILLE, S.C.--(BUSINESS WIRE)--Aug. 16, 2000

Bowater Incorporated (NYSE: BOW) today announced its selection as one of the World's 100 Best-Managed Companies by IndustryWeek magazine. It is the third time since 1997 that Bowater has received the honor and the only forest products company selected in 1999 and 2000.

Bowater was selected by a panel of more than 90 business leaders, analysts, and academicians on the basis of the company's financial performance, environmental, safety and social practices. Candidates for the magazines 100 Best-Managed Companies were taken from the IndustryWeek 1000, a list of the world's largest publicly held manufacturing companies based on revenues.

Bowater Incorporated, headquartered in Greenville, SC, is a global leader in newsprint. In addition, the company makes coated and uncoated groundwood papers, bleached kraft pulp and lumber products. The company has nine pulp and paper mills in the United States, Canada and South Korea. The company also owns and operates a coating operation and three sawmills that produce softwood dimension lumber. These operations are supported by 1.8 million acres of timberlands owned or leased in the United States and Canada and over 14 million acres of timber cutting rights in Canada. The company is one of the world's largest consumers of recycled newspapers and magazines. Bowater common stock is listed on the New York Stock Exchange, U.S. regional exchanges and the London Stock Exchange. A special class of stock exchangeable into Bowater common stock is listed on the Toronto Stock Exchange (TSE: BWX).