Videotron Ltd. Announces Notice of Redemption for its 6 7/8% Senior Notes due January 15, 2014

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MONTREAL, QUEBEC--(Marketwire -02/29/12)- Videotron Ltd. ("Videotron") today announced that it has issued a notice of redemption for the entire outstanding principal amount of its 6 7/8% Senior Notes due January 15, 2014 (CUSIP 92658TAG3) (the "Notes"). A notice of redemption (the "Redemption Notice") pursuant to the terms of the indenture governing the Notes (the "Indenture") is being distributed by Wells Fargo Bank, National Association, the trustee under the Indenture. The Redemption Notice issued today states that the redemption date is March 30, 2012 (the "Redemption Date"), and the redemption price is 100.000% of the principal amount of the Notes redeemed, plus accrued and unpaid interest to the Redemption Date.

Any Notes not validly tendered and accepted for purchase in the cash tender offer to purchase any and all of the Notes, which was announced earlier today by Videotron, would therefore be redeemed in accordance with the Redemption Notice on the Redemption Date. Questions regarding this redemption should be directed to Wells Fargo Bank, National Association, by telephone at 1-800-344-5128 or by facsimile at (612) 667-6282.

This announcement does not constitute an offer to buy or the solicitation of an offer to sell securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. The securities mentioned herein have not been registered under the United States Securities Act of 1933 or applicable state securities laws, and the securities may not be offered or sold in the United States absent registration or an applicable exemption from registration. The securities mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.

Any purchase of Videotron's 6 7/8% Senior Notes due 2014 will be made pursuant to Videotron's Offer to Purchase dated February 29, 2012 and the related letter of transmittal. Any redemption of the 6 7/8% Senior Notes due 2014 will be made pursuant to a notice of redemption under the indenture governing such notes.

About Videotron

Videotron, a wholly-owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in cable television, interactive multimedia development, and Internet access, cable telephone and mobile telephone services. Videotron is a leader in new technologies with its interactive Digital TV service and its broadband network, which supports high-speed cable Internet access, analog and digital cable television, and other services. As of December 31, 2011, Videotron was serving 1,861,477 cable television customers, including 1,400,814 subscribers to its digital service. Videotron is also the Quebec leader in high-speed Internet access, with 1,332,551 subscribers to its cable service as of December 31, 2011. As of the same date, Videotron had 290,578 subscriber connections to its mobile telephone service and was providing cable telephone service to 1,205,272 Quebec households and organizations. For the seventh consecutive year, Videotron was named Quebec's most respected telecommunications company by Les Affaires magazine, based on a Leger Marketing survey.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of United States federal securities legislation (collectively, "forward-looking statements"). All statements other than statements of historical facts included in this press release, including statements regarding our industry and our prospects, plans, financial position and business strategy, may constitute forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate as well as beliefs and assumptions made by our management. Such statements include, in particular, statements about our plans, prospects, financial position and business strategies.

Words such as "may," "will," "expect," "continue," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "seek" or the negatives of these terms or variations of them or similar terminology are intended to identify such forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: our anticipated business strategies; anticipated trends in our business; and our ability to continue to control costs. We can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. Some important factors that could cause actual results to differ materially from those expressed in these forward-looking statements include, but are not limited to: general economic, financial or market conditions; the intensity of competitive activity in the industries in which we operate, including competition from alternative means of programs and content transmission; new technologies that would change consumer behaviour toward our product suite; unanticipated higher capital spending required or to address continued development of competitive alternative technologies or the inability to obtain additional capital to continue the development of our business; our ability to implement successfully our business and operating strategies and manage our growth and expansion; disruptions to the network through which we provide our digital television, Internet access and telephony services, and our ability to protect such services from piracy; labour disputes or strikes; changes in our ability to obtain services and equipment critical to our operations; changes in laws and regulations, or in their interpretations, which could result, among other things, in the loss (or reduction in value) of our licenses or markets or in an increase in competition,

compliance costs or capital expenditures; our substantial indebtedness, the tightening of credit markets, and the restrictions on our business imposed by the terms of our debt; and interest rate fluctuations that affect a portion of our interest payment requirements on long-term debt. We caution you that the above list of cautionary statements is not exhaustive.

These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements included in this press release, and you are encouraged to read "Item 3. Key Information - Risk Factors" as well as statements located elsewhere in Videotron's annual report on Form 20-F for the year ended December 31, 2010 for further details and descriptions of these and other factors. Each of these forward-looking statements speaks only as of the date of this press release. We will not update these statements unless applicable securities laws require us to do so.

Contact:

Jean-Francois Pruneau
Vice President
Videotron
514 380-4144
For media only
Elodie Girardin-Lajoie
Specialist
Corporate Communications
Videotron
514 380-7772

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