SFK Pulp Fund announces a cash distribution of $0.01 per unit

    LONGUEUIL, Jan. 22 /CNW Telbec/ - SFK Pulp Fund (TSX: SFK.UN) announced
today that it has declared a cash distribution of $0.01 per unit, payable on
February 15, 2008 to unitholders of record at the close of business on January
 31, 2008.
    SFK Pulp also wishes to inform its unitholders of the 2007 distributions
tax breakdown.

    Canadian resident unitholders

    Out of the distributions declared in 2007, 100% consisted of a
non-taxable return of capital (therefore reducing the adjusted cost base of
the unitholder's units for tax purposes). Unitholders are advised to consult
with their tax advisors as to their particular situation regarding tax related

    United States resident unitholders

    U.S. unitholders who receive distributions are generally subject to a 15%
Canadian withholding tax, applied to the taxable portion of the distribution
as computed under Canadian tax law. U.S. taxpayers may be eligible for a
foreign tax credit with respect to Canadian withholding taxes paid. The
foreign tax credit limitations are complex and U.S. taxpayers should consult
with their tax advisors regarding its application.

    SFK Pulp operates, through its subsidiaries, the Saint-Félicien Mill, the
Fairmont Mill and the Menominee Mill (with a total annual production capacity
of 735,000 metric tonnes) and employs approximately 550 people. The
Saint-Félicien Mill (located in Saint-Félicien, Québec, approximately 450
kilometres north of Montréal) has an annual production capacity of 375,000
metric tonnes of NBSK pulp and supplies NBSK pulp to various sectors of the
paper industry in Canada, the United States and in Europe for use in
speciality products. The Fairmont Mill (located in Fairmont, West Virginia)
and the Menominee Mill (located in Menominee, Michigan), with a combined
annual production capacity of 360,000 metric tonnes, both manufacture
air-dried market recycled bleached kraft (RBK) pulp and primarily supply RBK
pulp to manufacturers of uncoated freesheet, commercial and away-from-home
tissue and coated paper in the United States.
    %SEDAR: 00018041EF

For further information:

For further information: Investors and Analysts: Mr. Paul Bourque, Chief
Financial Officer, (450) 677-7857 ext. 2224; Media and Others: Mr. Mathieu
Claise, Optimum Public Relations, (418) 521-3770

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