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Stéphane Lavallée Named Publisher Of Les Affaires Newspaper

Montreal, December 13, 2006 – Transcontinental Media today announced the appointment of Stéphane Lavallée as publisher of Les Affaires newspaper. He replaces Jean-Paul Gagné, who has been named publisher emeritus. One of North America’s largest regional business weeklies, selling more than 90,000 copies a week, Les Affaires was acquired by Transcontinental in 1979 and is one of the most prestigious titles in its newspaper and magazine portfolio.

“These appointments strengthen the paper’s position as a market leader,” said Pierre Marcoux, vice president, business publications for Transcontinental Media. “Stéphane will work closely with the existing team to make sure that the paper continues to meet the expectations of readers of all ages, is aligned with the latest market trends and is well positioned with respect to emerging technologies. He will provide direction for all editorial activities and will encourage sales development, distribution and promotion.

“Jean-Paul, in addition to acting as advisor to the team, will spend most of his time on business development, particularly with new partners. He will also continue to be responsible for editorials and will represent the newspaper in contests, juries and other business events. The experience and credibility of these two men will make Les Affaires more than ever, and for a long time to come, the financial information leader in its market,” Pierre Marcoux said.

Stéphane Lavallée has had a long and distinguished career in the print media industry. He started out as a reporter with the daily La Tribune in Sherbrooke in 1984. He then held several senior positions in the newsrooms of major publications, including La Presse and Les Affaires, where he was director of information and editor-in-chief from 1998 to 2001.

The career of Jean-Paul Gagné is inextricably linked with that of Les Affaires. After spending 12 years with Le Soleil, Quebec City’s daily paper, he joined Les Affaires in 1980 as editor-in- chief and was appointed publisher in 1997. Jean-Paul is one of the founders of business journalism in Quebec and his name is synonymous with excellence. His has received many awards and distinctions over the years, including the Outstanding Career in Business Journalism award from the Caisse de dépôt et placement du Québec and Merrill Lynch, the Gloire de l’Escolle medal and the Career Hermes distinction from Université Laval, and lifetime career awards from the Conseil du Patronat du Québec and the Manufacturiers et Exportateurs du Québec.

Stéphane Lavallée and Jean-Paul Gagné will assume their new responsibilities effective January 15, 2007.

About Transcontinental Media

The fourth-largest print media group in Canada, with more than 3000 employees and annual revenues of $555 million in 2005, Transcontinental Media is the country’s leading publisher of consumer magazines and of French-language educational resources as well as being the largest publisher of community newspapers in Eastern Canada. It publishes the weekday daily Métro in Montreal, owns a number of digital business units, and is also, through Publi-Sac, Quebec’s leading door-to-door distributor of advertising material.

Transcontinental Media is a subsidiary of Transcontinental Inc. (TSX: TCL.A, TCL.B), which has more than 14,000 employees in Canada, the United States and Mexico and reported revenues of C$2.2 billion (US$1.9 billion) in 2005.

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For Information:

Media
Pierre Marcoux
Vice President, Business Publications
Transcontinental Media.
Telephone: (514) 392-4111
pierre.marcoux@transcontinental.ca

Financial Community
Stéphane Milot
Director, Investor Relations and
External Communications
Transcontinental Inc.
Telephone: (514) 954-2821
stephane.milot@transcontinental.ca

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