REGISTRATION RIGHTS AGREEMENT
This REGISTRATION RIGHTS AGREEMENT, dated as of July 12, 1999, is made and entered into by
QUEBECOR PRINTING INC., a corporation formed under the laws of Canada (the "Company"), APC
Associates, L.P., a Delaware limited partnership, GR Associates, L.P., a Delaware limited partnership, WCP
Associates, L.P., a Delaware limited partnership, KKR Associates, L.P., a New York limited partnership, and
KKR Partners II, L.P., a Delaware limited partnership (collectively, the "Partnerships").
1. Background. The Company has entered into an Agreement and Plan of Merger, dated as of July 12, 1999, by
and among the Company, Printing Acquisition Inc. (the "Sub") and World Color Press, Inc. ("World Color") (the
"Merger Agreement"), which contemplates that the Sub will commence a tender offer to purchase for cash up to
23,500,000 of the outstanding shares of common stock of World Color (including such shares held by the
Partnerships), at a price of $35.69 in cash per share, followed by a merger of the Sub into World Color,
pursuant to which each remaining share of common stock of World Color will be converted into the number of
subordinate voting shares of the Company (the "Subordinate Voting Shares") specified in the Merger Agreement.
This Agreement shall become effective upon the issuance of the Subordinate Voting Shares to be issued pursuant
to the Merger Agreement.
2. Definitions and Interpretation.
As used in this Agreement, the following capitalized terms shall have the following respective meanings:
Commissions - The relevant securities commissions and regulatory authorities of each province of Canada and
Exchange Act - The Securities Exchange Act of 1934, as amended.
Holder - Subject to Section 8(c) hereof, any party hereto (other than the Company) and any holder of
Registrable Securities who agrees in writing to be bound by the provisions of this Agreement.
Jurisdiction - Any jurisdiction where securities of the same class and series as th