Bowater Inc.

Bowater to Release Fourth Quarter and 2003 Financial Results on January 29, 2004

Bowater Incorporated (NYSE: BOW) will release fourth quarter and 2003 financial
results before the market opens on Thursday, January 29, 2004.

Bowater will hold a management conference call to discuss these financial
results at 11:00 a.m. EST, January 29, 2004. The conference call number is
888-428-4478 or 651-291-5254 (international). The call will also be broadcast
via the Internet. Interested parties may connect to the Bowater website at
www.bowater.com, then follow the on-screen instructions for access to the call
and related information. A replay of the call will be available from 1:30 p.m.
EST on Thursday, January 29, through Thursday, February 5, on the website or by
dialing 800-475-6701 or 320-365-3844 (international) and using the access code
716080.

Bowater Incorporated, headquartered in Greenville, SC, is a leading producer of
newsprint and coated groundwood papers. In addition, the company makes uncoated
groundwood papers, bleached kraft pulp and lumber products. The company has 12
pulp and paper mills in the United States, Canada and South Korea and 13 North
American sawmills that produce softwood lumber. Bowater also operates two
facilities that convert a groundwood base sheet to coated products. Bowater's
operations are supported by approximately 1.4 million acres of timberlands owned
or leased in the United States and Canada and 32 million acres of timber cutting
rights in Canada. Bowater is one of the world's largest consumers of recycled
newspapers and magazines. Bowater common stock is listed on the New York Stock
Exchange, the Pacific Exchange and the London Stock Exchange. A special class of
stock exchangeable into Bowater common stock is listed on the Toronto Stock
Exchange (TSE:BWX).

Bowater Incorporated
Media Contact: Gordon R. Manuel, 864-282-9448
Analyst Contact: William G. Harvey, 864-282-9413