Bowater Delists Its Common Stock on NYSE Arca

Greenville, South Carolina, USA, 22 December 2006 --(BUSINESS WIRE)-- Bowater Incorporated (NYSE:BOW) today announced that it has elected to cancel the listing of its common stock on NYSE Arca, Inc., formerly the Pacific Exchange, effective 31 December 2006.

Bowater made the decision to voluntarily withdraw its listing from NYSE Arca to eliminate duplicative administrative requirements inherent with dual listings on two of the NYSE Group's exchanges. Bowater's common stock will continue to be listed on the New York Stock Exchange.

Shareholders queries should be directed to:

The Bank of New York
Investor Relations Department
P.O. Box 11258, Church Street Station
New York, NY 10286

Telephone: 620-382-7833

E-mail: Shareowners@bankofny.com

Bowater Incorporated, headquartered in Greenville, South Carolina, is a leading producer of coated and specialty papers and newsprint. In addition, the company sells bleached market pulp and lumber products. Bowater employs approximately 7600 people and has 12 pulp and paper mills in the United States, Canada, and South Korea. In North America, it also owns two converting facilities and 10 sawmills.

Bowater's operations are supported by approximately 835,000 acres of timberlands owned or leased in the United States and Canada and 28 million acres of timber cutting rights in Canada. Bowater operates six recycling plants and is one of the world's largest consumers of recycled newspapers and magazines. Bowater common stock is listed on the New York Stock Exchange. A special class of stock exchangeable into Bowater common stock is listed on the Toronto Stock Exchange (TSX: BWX). To learn more, visit www.bowater.com.

Source: Bowater Incorporated