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The restriction is not contained in the ISDA, it is contained in a Board
Resolution of the Company. We got an initial Certified copy of Board Resolution when we signed master that limited the trading to newsprint swaps only. When they wanted to trade online they wanted to trade lumber also, and they Chris Gaffney 05/16/2001 01:39 PM To: Tana Jones/HOU/ECT@ECT cc: Jan Wilson/TOR/ECT@ECT, Randy Otto/CAL/ECT@ECT Subject: Tembec Tana - the financial trading agreements database indicated that the Tembec Inc. (or Tembec Industries Inc.) ISDA is restricted to newsprint and lumber transactions only. Two questions: 1) where do you indicate in the schedule that the ISDA is restricted to certain type of trades and 2) what do we have to do to amend the Tembec ISDA in order that we go ahead with a gas transaction. Hope all is well. CJG
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