Press release

· Shareholders reject proposed takeover of Quebecor World's European activities
· RSDB overall strategy unchanged
· Takeover related costs will impact 2007 results

During today's Extraordinary Shareholders' Meeting RSDB put the Group's proposal to acquire the European activities of Quebecor World to the vote. The Group's intention to take this important step in the necessary consolidation of the European graphics industry, was not supported by the majority of the votes present. The Group's proposal was supported by the RSDB central works council.

RSDB's strategy, focused on print and the need for consolidation, remains unchanged. The Supervisory and Management Boards of RSDB will consider what further steps need to be taken.

The decision means that RSDB will have to charge advisory costs against the 2007 net result. We expect the net result for 2007 to be sharply lower than 2006. The finalised annual figures for 2007 will be published on 20 March 2008 and the annual General Shareholders' Meeting will be held on 16 April 2008.

Hilversum, 13 December 2007

RSDB NV
Management Board