Management's Responsibility for Financial Reporting

The accompanying consolidated financial statements of the Chemtrade Logistics Income Fund (the "Fund") and all the information in this annual report are the responsibility of the management of the Fund's wholly-owned operating subsidiary Chemtrade Logistics Inc. ("Chemtrade").The consolidated financial statements have been prepared in accordance with Canadian generally accepted accounting principles and where appropriate include management's best estimates and judgements. Management has reviewed the financial information presented throughout this report and has ensured it is consistent with the consolidated financial statements.

Management maintains a system of internal control designed to provide reasonable assurance that assets are safeguarded from loss or unauthorized use, and that financial information is timely and reliable.

The Trustees of the Fund are responsible for ensuring that management fulfills its responsibilities for financial reporting and are ultimately responsible for reviewing and approving the consolidated financial statements. The Trustees carry out this responsibility principally through the Audit Committee of Chemtrade.

The Board of Directors of Chemtrade appoints the Audit Committee, and all of its members are independent directors. The Audit Committee meets periodically with management and the Unitholders' auditors to review internal controls, audit results and accounting principles. Acting on the recommendation of the Audit Committee of the Board, the consolidated financial statements are forwarded to the Trustees of the Fund for their approval.

KPMG LLP, an independent firm of Chartered Accountants, was retained by the Trustees of the Fund to complete the audit of the consolidated financial statements and to provide an independent professional opinion. The appointment of KPMG LLP as auditors of the Fund will be confirmed at the Annual Meeting of the Fund. KPMG LLP has full and free access to the Audit Committee.

Mark Davis President and CEO Toronto, Canada February 9, 2002	Victor Wells Vice President Finance and CFO