Jolina Amended Early Warning Report in Respect of Tembec Inc.

    MONTREAL, Jan. 31 /CNW Telbec/ - Jolina Capital Inc. ("Jolina") announces
that a copy of its amended Early Warning Report in respect of Tembec Inc.,
which was filed on SEDAR under Canadian securities laws earlier today, is also
available at <a href=""></a>.
    Neither this announcement nor the meeting held today constitute an offer
to purchase or a solicitation of an offer to purchase with respect to any
securities of Tembec or of any of its subsidiaries or a solicitation to
execute, withhold or revoke a proxy with respect thereto, whether in
connection with the securityholder meetings to be held by Tembec in connection
with its announced recapitalization proposal or otherwise.

For further information:

For further information: Neil Augustine, Rothschild Inc., (212)

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