SPEC Headlines, Feb. 22, 2004

Tembec's credit rating lowered by Standard and Poor's
Gilles Gagné

    The reappraisal of Tembec's credit rating by Standard and Poor's
constitutes one more reason to take the  time to analyze the relevance of
injecting additional funds in the modernization project of the Gaspesia mill
in Chandler, affirms Pierre Brien, spokesperson of Tembec.
    Tembec's credit rating was revised down on February 9th, going from "BB
with negative perspectives" to "BB minus, with stable perspectives". Pierre
Brien refuses to dramatize things, mentioning that Standard and Poor's
reappraisal just confirms the same decision taken by two other credit rating
agencies in November and December regarding Tembec's long term debt.
    "Our long term loans only start to expire in 2008-2009, in the nearest
future scenario. We are not looking for capital right now. If we do, yes, we
will have to pay a higher interest rate", comments Mr. Brien.

Gaspesian wins first place  at the World Junior Ski Championship
Gilles Gagné

NEW RICHMOND - Gaspesian François Bourque, from New Richmond, won the first
place of combined events at the World Junior Ski Championship, held in
Maribor, Slovakia, from February 10th to 14th, almost a year after winning
the first place in the Super G event at the same championship.

Bourque, 19, placed seventh in the slalom, the last event, and he raised his
point total to 32.84.  The overall gold medal, which takes into account the
points accumulated in the downhill race, the Super G, the slalom and the
giant slalom. Fredrik Nordh, from Sweden, finished in second place in the
overall standings.

Youth exedus continues on the Coast
Jeanie LeLacheur

 "Our region is still experiencing an exodus of youth and we have to act
now" that¹s  the  message of a report commissioned by  the "Conseil
permanent de la jeunesse".  and submitted  to premier Jean Charest.  Patrick
Lebel released the report on February 11th 2004, which  contains
recommendations  designed to give a "helping hand" to regional youth.  The
suggestions include  a support program for "Stages"  or "on the job
training", a partial  reimbursement of student loans to those returning to
the area, and the elimination of some administrative barriers such as the
one that restricts a Gaspé student  who is studying in Quebec city from
applying for a government job posting in Gaspé because they aren¹t living in
the Gaspé