N e w s R e l e a s e For Immediate Release

TSX: FBK fibrek.com

FIBREK FILES DIRECTORS' CIRCULAR REJECTING THE ABITIBIBOWATER INSIDER BID

Unsolicited insider bid is timed to take advantage of turbulence in the capital markets and cyclical trough in pulp prices and deprives minority shareholders of significant intrinsic value in the NBSK pulp business, electricity production and profitable long-term agreement in the RBK segment

MONTREAL, JANUARY 3, 2012 - Fibrek Inc. ("Fibrek" or the