Jolina invites Tembec noteholders to information session regarding Jolina proposal

    MONTREAL, Jan. 28 /CNW Telbec/ - Jolina Capital Inc. ("Jolina") invites
the holders of Tembec Industries Inc. unsecured senior notes respectively due
June 2009, February 2011 and March 2012 to an information session on
January 31, 2008 where the terms of Jolina's proposal for the recapitalization
of Tembec (the "Jolina Proposal") will be presented.
    The meeting will be held at 3:00 p.m. on Thursday, January 31, 2008 in
the John Jacob Astor Salon, on the third floor of The Waldorf Astoria Hotel
situated at 301 Park Avenue in New York. Attendance at the meeting will
require prior registration by email at
    Jolina and its financial advisors continue to believe that the Jolina
Proposal is more favourable to Tembec and all of its stakeholders than the
recapitalization proposal announced by Tembec on December 19, 2007.
    Jolina reminds noteholders that in rejecting the Jolina Proposal, Tembec
Inc. had invited Jolina to make the details of its proposal available to
Tembec's stakeholders through a public announcement.

    Neither this announcement nor the information session to be held on
January 31, 2008 constitute an offer to purchase or a solicitation of an offer
to purchase with respect to any securities of Tembec Inc. 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

For further information:

For further information: Neil Augustine, Rothschild, (212) 403-5411

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Jolina Capital Inc.

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