Tembec Inc.

By letter dated 3/9/00, Tembec Inc. has requested the transfer of "Contract
No. EJ7774.1" dated 3/23/98 to the National Bank of Canada pursuant to
Section 7 of the ISDA Master, to be effective April 1, 2000, but with Q1
payment to be made to Tembec. We do have a master with the National Bank of
Canada. Please let us know if this transfer is approved. SS