Quebecor Inc. Announces Strong Q1 2008 Results for Quebecor Media Inc., a 54.7% Owned Subsidiary

Quebecor Media Inc. (TSX: QBR.A)(TSX: QBR.B)

HIGHLIGHTS SINCE END OF 2007

- Quebecor Media Inc. Q1 2008 revenues up $126.0 million (16.8%), year over year, to $877.1 million.

- Operating income up $64.2 million (34.1%) to $252.4 million.

- Net income up $17.6 million (42.7%) to $58.8 million.

- Cable segment: operating income up $46.9 million (31.5%); quarter-over-quarter net customer growth of 55,200 for cable telephone service, 32,100 for cable Internet access, 14,100 for all cable television services combined (including 34,600 customer increase for illico Digital TV), and 4,200 activated phones for wireless telephone service.

- Videotron Ltd. issues US$455.0 million aggregate principal amount of Senior Notes.

- Quebecor Media qualifies as new market entrant in spectrum auction for Advanced Wireless Services (3G).

- Quebecor Media acquires Nurun Inc. Common Shares it did not already hold at $4.75 per share, for a total cash consideration of $75.0 million.

Quebecor Media Inc. recorded revenues of $877.1 million in the first quarter of 2008, a $126.0 million (16.8%) increase. Revenue growth was strongest in the following segments: Cable (up $71.8 million or 20.0%), reflecting continued customer growth for all services; Newspapers ($47.1 million or 21.4%), due to the impact of the acquisition of Osprey Media Income Fund ("Osprey Media") in August 2007; and Broadcasting ($13.2 million or 14.1%) . Quebecor Media's operating income was up $64.2 million (34.1%) to $252.4 million. Operating income increased in the Cable segment ($46.9 million or 31.5%), due primarily to customer growth, the Newspapers segment ($11.3 million or 32.8%), because of the acquisition of Osprey Media, and the Broadcasting segment ($8.7 million).

"Quebecor Media's results showed robust growth in the first quarter of 2008, with a 42.7% year-over-year increase in net income to $58.8 million," commented Pierre Karl Peladeau, President and Chief Executive Officer of Quebecor Inc. "Once again, the excellent results were driven by sustained growth in the Cable segment, which continued to register healthy customer increases in all its lines of business. The Newspapers segment was boosted by the favourable impact of the acquisition of Osprey Media, which closed in August 2007. The Broadcasting segment also improved its revenues and operating income. Meanwhile, Quebecor Media qualified as a new market entrant for the spectrum auction for Advanced Wireless Services (3G), which begins on May 27, 2008. In the auction, Quebecor Media intends to focus on the geographies it believes present attractive prospects for its service offerings. This new communication platform promises to be a growth driver for our Company."

Quebecor Media's net income was up $17.6 million (42.7%) to $58.8 million, mainly because of the $64.2 million increase in operating income, which was partially offset by an $8.2 million increase in the amortization charge and a $20.0 million increase in financial expenses due primarily to higher debt levels and adjustments related to financial instruments.

Quebecor Media Inc.
First quarter revenues and operating income - 2004 to 2008
(in millions of Canadian dollars)

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                    2008    2007    2006    2005    2004
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Revenues          $877.1  $751.1  $698.7  $624.7  $561.8
Operating income   252.4   188.2   159.6   151.0   131.3
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Decision by Quebecor World to place itself under the protection of the Companies' Creditors Arrangement Act

On January 21, 2008, Quebecor World was granted protection under the Companies' Creditors Arrangement Act in Canada and Chapter 11 of the United States Bankruptcy Code.

These procedures will have no material impact on the operations of Quebecor Media.

Conference call for investors and webcast

Quebecor Inc. will hold a conference call to discuss Quebecor Media's first quarter 2008 results on May 6, 2008, at 5 p.m. EDT. There will be a question period reserved for financial analysts. To access the conference call, please dial 1 877 293-8052, access code 81277#. A tape recording of the call will be available from May 7 through June 7, 2008, by dialling 1 877 293-8133, access code 618953#. The conference call will also be broadcast live on the Quebecor website at www.quebecor.com/InvestorCenter/QIConferenceCall.aspx . It is advisable to ensure the appropriate software is installed before accessing the call. Instructions and links to free player downloads are available at the Internet address shown above.

Forward-looking statements

The statements in this press release that are not historical facts are forward-looking statements and are subject to significant known and unknown risks, uncertainties and assumptions which could cause Quebecor Inc.'s actual results for future periods to differ materially from those set forth in the forward-looking statements. Forward-looking statements may be identified by the use of the conditional or by forward-looking terminology such as the terms "plans," "expects," may," "anticipates," "intends," "estimates," "projects," "seeks," "believes" or similar terms, variations of such terms or the negative of such terms. Certain factors that may cause actual results to differ from current expectations include seasonality (including seasonal fluctuations in customer orders), operating risk (including fluctuations in demand for Quebecor Inc.'s products and pricing actions by competitors), insurance risk, risks associated with capital investment (including risks related to technological development and equipment availability and breakdown), environmental risks, risks associated with labour agreements, risks associated with commodities and energy prices (including fluctuations in the cost and availability of raw materials), credit risk, financial risks, debt risks, risks related to interest rate fluctuations, foreign exchange risks, risks related to government acts and regulations, risks related to tax changes and changes in the general political and economic environment. Investors and others are cautioned that the foregoing list of factors that may affect future results is not exhaustive and that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause Quebecor Inc.'s actual results to differ from current expectations, please refer to Quebecor Inc.'s public filings available at www.sedar.com and www.quebecor.com including, in particular, the "Risks and Uncertainties" section in Quebecor Inc.'s Management Discussion and Analysis for the year ended December 31, 2006.