Tembec corrects inaccurate reports on bankruptcy

    MONTREAL, Sept. 4 /CNW Telbec/ - In response to an inaccurate press
report issued today that Tembec Industries Inc. filed for bankruptcy
protection in the United States, Tembec Industries Inc. has indicated that, as
a final step in its recapitalization, it has filed a chapter 15 petition in
the United States. The chapter 15 filing is intended to give effect to the
sanction order issued under the Canada Business Corporation Act in Canada on
February 27, 2008 and does not affect the rights of any creditors or
shareholders or any security holder of Tembec Inc. or any of its affiliates.
    "The filing today simply closes a procedural loose end related to the
recapitalization" said James Lopez, President and CEO of Tembec. "It is not in
any way a material event and does not in any way affect the business or the
financial condition or anything else related to the newly recapitalized

    Tembec is a large, diversified and integrated forest products company
which stands as the global leader in sustainable forest management practices.
With operations principally located in North America and in France, the
Company employs approximately 8,000 people. Tembec's common shares are listed
on the Toronto Stock Exchange under the symbol TMB and warrants under TMB.WT.
Additional information on Tembec is available on its website at

    This press release includes "forward-looking statements" within the
meaning of securities laws. Such statements relate to the Company's or
management's objectives, projections, estimates, expectations or predictions
of the future and can be identified by words such as "will", "anticipate",
"estimate", "expect" and "project" or variations of such words. These
statements are based on certain assumptions and analyses made by the Company
in light of its experience and its perception of future developments. Such
statements are subject to a number of risks and uncertainties, including, but
not limited to, changes in foreign exchange rates, product selling prices, raw
material and operating costs and other factors identified in our periodic
filings with securities regulatory authorities. Many of these risks are beyond
the control of the Company and, therefore, may cause actual actions or results
to materially differ from those expressed or implied herein. The Company
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or

For further information:

For further information: Richard Fahey, Vice President, Communications
and Public Affairs, (514) 871-2304, richard.fahey@tembec.com

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