BOW Bowater Inc

    Bowater Inc.

Bowater Declares Quarterly Dividend and Announces Results of 2006 Annual Meeting

The Board of Directors of Bowater Incorporated (NYSE: BOW) today declared a
quarterly cash dividend of $0.20 per common share payable on July 3, 2006 to
holders of record at the close of business on June 12, 2006. Simultaneously,
Bowater's subsidiary, Bowater Canada Inc., declared a quarterly cash dividend to
holders of its exchangeable shares (TSX: BWX) in the same amount with the same
record and payable dates.

Bowater additionally announced the results of the vote taken at its Annual
Meeting of Shareholders held in Greenville, SC, today. Elected to the Board of
Directors for three-year terms were:

    --  Togo D. West, Jr., Chairman of the Leadership Institute

    --  Richard B. Evans, President and Chief Executive Officer of Alcan Inc.

    --  Bruce W. Van Saun, Vice Chairman and Chief Financial Officer of The Bank
        of New York Company, Inc.

    --  David J. Paterson, President and Chief Executive Officer of Bowater

Bowater's shareholders also approved the Company's 2006 Stock Option and
Restricted Stock Plan.

KPMG LLP was ratified as Bowater's independent registered public accounting firm
for the 2006 fiscal year.

Bowater Incorporated, headquartered in Greenville, SC, is a leading producer of
newsprint, coated mechanical and specialty papers. In addition, the company
makes bleached kraft pulp and lumber products. The company has 12 pulp and paper
mills in the United States, Canada and South Korea and 10 North American
sawmills that produce softwood lumber. Bowater also operates two facilities that
convert a base sheet to coated products. Bowater's operations are supported by
approximately 1.1 million acres of timberlands owned or leased in the United
States and Canada and 28 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 and the
Pacific Exchange. A special class of stock exchangeable into Bowater common
stock is listed on the Toronto Stock Exchange (TSX: BWX).

    CONTACT: Bowater Incorporated
             Duane A. Owens, 864-282-9488

Bowater Inc (LSE:BOW)
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