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Tembec Inc. announced today thatTemlam Inc. and Jager Building Systems Inc., a subsidiary of Temlam Inc., havemade voluntary assignments in bankruptcy under the Bankruptcy and InsolvencyAct (Canada). these assignments in bankruptcy follow the receipt, by Temlam Inc. andJager Building Systems Inc. of Notices of Intention to Enforce Security issuedby HSBC Canada bank on September 3, 2008. The companies were unable to curedefaults under their financing arrangements due to current economic conditionsin the industry.''Tembec has recently completed a successful recapitalization which hasgiven us a strong balance sheet and liquidity position, said James Lopez,President and CEO of Tembec. It would not be prudent to risk further exposureto these joint ventures through injection of additional capital at this timein light of the current business climate and housing market. For this reason,Tembec and SGF have decided to support the decision of the Boards of Directorsof the two companies and endorse this course of action.

A Suncor Energy business, Petro-Canada™ is "Canada’s Gas Station" with a network of more than 1,500 retail and wholesale outlets across Canada, and a specialty lubricants business.