Cambior Buys Back Gold Ounces From its Gold Hedging Program.

Business Editors

LONGUEUIL, Quebec--(BUSINESS WIRE)--March 25, 2003

Cambior Inc. (AMEX:CBJ)(TSX:CBJ) announces that over the last month its repurchased 189,000 ounces of gold from its gold hedging program at an average price of $342 per ounce, compared to the average market price of gold since the beginning of 2003, which was $354 per ounce. Of this repurchase, 134,000 ounces will be used to close gold hedging contracts in 2003, resulting in a disbursement of $1.7 million. The other repurchased positions will be applied against hedging positions subsequent to 2003. Taking into account the delivery of gold production since the beginning of 2003 and gold production expected to be delivered before the end of March, Cambior will have reduced its hedging commitments by 24% or 307,000 ounces of gold compared to its position at December 31, 2002. This repurchase accelerates the Company's previously stated objective of reducing its commitments to 800,000 ounces by the end of the year 2003. As a result of the above-described repurchase, approximately 42% of the remaining production for 2003 is unhedged. Cambior remains attentive to market opportunities to further reduce its hedging positions.

Cambior Inc. is an international gold producer with operations, development projects and exploration activities throughout the Americas. Cambior's shares trade on the Toronto (TSX) and American (AMEX) stock exchanges under the symbol "CBJ". Cambior's warrants, "CBJ.WT.B", trade on the TSX.

This press release contains certain "forward-looking statements", including, but not limited to, the statements regarding the use of hedging and non-hedge derivative instruments, and our objective to reduce our hedging commitments. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate (e.g. there can be no guarantee that our objective of reducing our hedging commitments by year-end will be attained). Actual results and future events could differ materially from those anticipated in such statements and there can be no guarantee that forward-looking statements in this press-release will materialize. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements include, among other things, the risks referred in Cambior's 2001 Annual Information Form filed with the Securities Commission of all provinces in Canada, and with the United Stated Securities and Exchange Commission, as well as the Toronto Stock Exchange and the American Stock Exchange.