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

Tembec Inc.
By letter dated <NUMBER>/<NUMBER>/<NUMBER>, Tembec Inc. has requested the transfer of "Contract No.
EJ0000.0" dated <NUMBER>/<NUMBER>/<NUMBER> to the National Bank of Canada pursuant to Section <NUMBER> of the ISDA Master, to be effective April <NUMBER>, <NUMBER>, but with Q0 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
approved ss isda master effective pursuant section tembec requested transfer ej0000 national bank q0 payment let know