Bowater to Release Second Quarter 2002 Financial Results On July 30, 2002.

Business Editors

GREENVILLE, S.C.--(BUSINESS WIRE)--July 23, 2002

Bowater Incorporated (NYSE: BOW) will release second quarter 2002 financial results before the market opens on Tuesday, July 30, 2002.

Bowater will hold a management conference call to discuss these financial results at 10:00 AM EDT, July 30, 2002. The conference call number is 800-230-1085 or 612-332-0923 (international). The call will also be broadcast via the Internet. Interested parties may connect to the Bowater website 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, July 30, through Tuesday, August 6, on the website or by dialing 800-475-6701 or 320-365-3844 (international) and using the access code 644267.

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 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 operates two facilities that convert a groundwood base sheet to coated products. Bowater's operations are supported by approximately 1.5 million acres of timberlands owned or leased in the United States and Canada and 33 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, the Pacific Exchange and the London Stock Exchange. A special class of stock exchangeable into Bowater common stock is listed on the Toronto Stock Exchange (TSE:BWX).