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