Bowater to Release First Quarter Earnings On April 23.

Business Editors

GREENVILLE, S.C.--(BUSINESS WIRE)--April 20, 2001

Bowater Incorporated (NYSE: BOW) will release first quarter 2001 financial results on Monday, April 23, 2001, after the close of trading on the New York Stock Exchange.

Bowater will hold a management conference call to discuss these financial results at 9:00 AM EDT, April 24, 2001. The conference call number is 888-400-7916. The call will also be broadcast via the Internet. Interested parties may connect to the Bowater web site at www.bowater.com, then follow the on-screen instructions for access to the call. A replay of the call will be available from 1:30 PM EDT on Tuesday, April 24, through Tuesday May 1, on the web site or by dialing 800-475-6701 or 320-365-3844 (international) and using the access code 578926.

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. With Bowater's pending acquisition of Alliance Forest Products Inc., the company will have 12 pulp and paper mills in the United States, Canada and South Korea and 13 North American sawmills that produce softwood and hardwood lumber. Bowater also owns and operates a coating operation. Bowater's operations when combined with Alliance will be supported by approximately 1.8 million acres of timberlands owned or leased in the United States and Canada and 31 million acres of timber cutting rights in Canada. Bowater 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).