Transcontinental Inc. files preliminary short form base shelf prospectus for up to $500 million of debt securities and preferred shares and consequently revises 2008 financial statements



    MONTREAL, Sept. 10 /CNW Telbec/ - Transcontinental Inc. announced today
the filing with securities regulators in each of the provinces of Canada of a
preliminary short form base shelf prospectus relating to debt securities and
preferred shares for aggregate proceeds of up to $500 million. These
securities may be offered from time to time, during a 25-month period for
which the short form base shelf prospectus remains valid.
    Unless otherwise specified in a Prospectus Supplement, Transcontinental
may issue securities under this prospectus for general corporate purposes,
which may include the repayment of indebtedness and the financing of
acquisitions and investments provided market conditions are favourable.
    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale or any acceptance
of an offer to buy these securities in any province or territory of Canada in
which such offer, solicitation or sale would be unlawful prior to
qualification under securities laws of any such province or territory. The
securities referred to herein have not been and will not be registered under
the United States Securities Act of 1933, as amended, or any state securities
laws and may not be offered, sold or delivered within the United States of
America and its territories and possessions except in certain transactions
exempt from such registration requirements. The preliminary short form base
shelf prospectus contains important information concerning these securities
and is available on SEDAR at www.sedar.com.
    In the context of the filing of its preliminary short form base shelf
prospectus which includes by reference its audited consolidated financial
statements for the year ended October 31, 2008, the Corporation was required
to refile these financial statements as a result of the revision of the
segmented information to reflect the new organizational structure of the
Corporation implemented on November 1, 2008. This revision does not have any
impact on other financial information comprised in the financial statements.
As a result thereof, the Corporation has amended and refiled its Management's
Discussion and Analysis of the financial condition and results of operations
for the year ended October 31, 2008.
    Given the revision, the following table sets forth the revised revenues
and percentage of revenues by operating sector reflecting the new
organizational structure of the Corporation for the fiscal years ended October
31, 2008 and 2007 and should be read as replacing the table shown on page 13
of the Corporation's Annual Information Form for the year ended October 31,
2008.

    
                                        Fiscal Years Ended October 31
                                ---------------------------------------------
    (in millions of dollars
     except for percentages)      2008 ($)    2008 (%)    2007 ($)    2007(%)
    -------------------------------------------------------------------------
    Printing Sector            1,536.7        63.2     1,533.0        65.9
    Marketing Communications
     Sector                      341.7        14.1       252.5        10.9
    Media Sector                 645.3        26.6       632.8        27.2
    Inter-segment sales,
     other activities and
     unallocated amounts         (94.4)       (3.9)      (92.1)       (4.0)
    -------------------------------------------------------------------------
    Total                      2,429.3         100     2,326.2         100
    -------------------------------------------------------------------------
    

    The Corporation has also refiled the French version of its unaudited
financial statements for the six-month period ended April 30, 2009 as certain
references to the notes to the financial statements were inadvertently omitted
from the version filed on SEDAR. This refiling does not have any impact on
other financial information comprised in the financial statements.
    The Corporation's Board of Directors, on the recommendation of
management, has concluded that it is necessary to refile the Corporation's
audited consolidated financial statements for the year ended October 31, 2008,
the Management's Discussion and Analysis for the year ended October 31, 2008
as well as the French version of the unaudited interim consolidated financial
statements of the Corporation and the notes thereto for the six-month period
ended April 30, 2009. Therefore, the Corporation's financial statements as
previously published and filed for the year ended October 31, 2008, the
Management's Discussion and Analysis as previously published and filed for the
year ended October 31, 2008 and the French version of the unaudited interim
consolidated financial statements and the notes thereto as previously
published and filed for the six-month period ended April 30, 2009 should no
longer be relied upon.

    About Transcontinental

    Transcontinental provides printing, publishing and marketing services
that deliver exceptional value to its clients along with a unique, integrated
platform for them to reach and retain their target audiences. Transcontinental
is the largest printer in Canada and the sixth largest in North America. It is
also Canada's leading publisher of consumer magazines and French-language
educational resources as well as the country's second-largest community
newspaper publisher. Transcontinental's digital platform delivers unique
content through more than 120 websites. Its Marketing Communications Sector
provides advertising services and marketing products using new communications
platforms supported by database analytics, premedia, email marketing, and
custom communications. Transcontinental is a growing Corporation with a
culture of continuous improvement and financial discipline, whose values,
including respect, innovation and integrity, are central to its operation.
    Transcontinental (TSX: TCL.A, TCL.B) employs approximately 13,000
employees in Canada, the United States and Mexico, and reported revenues of
$2.4 billion in 2008. For more information about the Corporation, please visit
www.transcontinental.com.




For further information:

For further information: Media: Maxim Labrie, Media Relations,
Transcontinental Inc., (514) 954-4176, maxim.labrie@transcontinental.ca;
www.transcontinental.com; Financial Community: Jennifer F. McCaughey,
Director, Investor Relations, Transcontinental Inc., (514) 954-2821,
jennifer.mccaughey@transcontinental.ca

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Transcontinental Inc.

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