Pulpex Bulletin for Tuesday, November 20, 2001

Market News:
             Bid      Ask     Last     High      Low   Vol    OI
NBSK -----------------------------------------------------------
Nov01     390.00   400.00   400.00   400.00   400.00    19    82
Dec01     401.00   406.00        -        -        -     -   128
Jan02     406.25   414.00   412.00   412.00   412.00    19    76
Mar02     418.00   425.00   418.25   418.25   418.25    10   163
Jun02     437.00   443.00   441.00   441.00   435.25    15    43
Sep02     455.00   466.00   459.00   459.00   459.00    10    62
Dec02     465.00   476.00        -        -        -     -    15
Mar03     475.00   550.00        -        -        -     -     -

BEK ------------------------------------------------------------
Nov01     390.00   405.00        -        -        -     -    26
Dec01     395.00   404.00        -        -        -     -    30
Jan02     399.00   409.00        -        -        -     -     -
Mar02     407.00   417.00        -        -        -     -     -

Settlement Prices Futures
          Today      Chg      Prev
NBSK ------------------------------
Nov01    400.00     +4.00    396.00
Dec01    403.50     -0.50    404.00
Jan02    412.00     +0.50    411.50
Mar02    418.25     -4.75    423.00
Jun02    441.00     +4.50    436.50
Sep02    459.00     +3.00    456.00
Dec02    470.50     +0.00    470.50
Mar03    484.50     +0.00    484.50

BEK -------------------------------
Nov01    396.00     +0.00    396.00
Dec01    399.50     +0.00    399.50
Jan02    404.00     +0.00    404.00
Mar02    412.00     +0.00    412.00

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