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Quebecor Inc. - revenues increase 10 percent during first quarter.

MONTREAL--(BUSINESS WIRE)--April 29, 1997--Quebecor Inc. (ME, TSE QBR.A., ME, TSE QBR.B., AMEX PQB.) announces that its consolidated revenues increased by 10 percent during the first quarter of 1997 to reach $1.6 billion, compared to $1.4 billion after the first quarter of 1996.

Net income after non-recurring items reached $18.2 million, or 28 cents per share, after three months in 1997, compared to $25.1 million, or 38 cents per share, after the corresponding period in 1996. However, non recurring items totaling $8.2 million, or 13 cents per share, had had the effect to increase reported net income to $33.3 million, or 51 cents per share, at the end of the first quarter of 1996.

The important drop in the price of newsprint witnessed during the first quarter of 1997, when compared to the same period in 1996, lowered the contribution to Quebecor Inc.'s net income by its subsidiary involved in the Forest Products sector. Dividend

The Board of Directors of Quebecor Inc., at its meeting held today, declared a dividend of CDN $0.20 per share on the Class A Shares (Multiple Voting Shares) and the Class B Subordinate Voting Shares, payable on June 11, 1997 to shareholders of record at the close of business on May 16, 1997.

Quebecor Inc. is a communications group with activities throughout North America and Europe in four sectors. The company has publishing and distribution activities through its subsidiary, Quebecor Communications Inc. Through its subsidiary, Quebecor Printing Inc., it ranks as the leading commercial printer in Canada and Europe and is the second largest in the United States.

Through its subsidiary, Donohue Inc., Canada's leading newsprint producer and the third largest in North America, the company is involved in forest products. Finally, through Quebecor Multimedia Inc., it is also in the multimedia industry. It employs more than 33,700 persons.

The Class A Multiple Voting Shares of Quebecor Inc. are listed on the Montreal and Toronto stock exchanges under the ticker symbol QBR.A and on the American Stock Exchange under the ticker symbol PQB. Its Class B Subordinate Voting Shares are listed on the Montreal and Toronto stock exchanges under the ticker symbol QBR.B. -0-
 Consolidated financial data
 Quarters ended March 31
 (in millions of dollars except per share data)

 1997 1996

Revenues $1,567.7 $1,427.6
Operating income before
 non recurring items $81.5 $135.7

Net income
Contribution from operations $18.2 $25.1
Non-recurring items - 8.2
 ______ ______
 $18.2 $33.3

Earnings per share
Contribution from operations $0.28 $0.38
Non-recurring items - 0.13
 ______ ______
 $0.28 $0.51

CONTACT: Quebecor Inc.

Francois R. Roy, 514/877-9777
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Publication:Business Wire
Date:Apr 29, 1997
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