CHEMTRADE LOGISTICS ANNOUNCES COMPLETION OF US$62 MILLION ACQUISITION OF SHS BUSINESS OF CLARIANT INTERNATIONAL

TORONTO, December 30, 2002 - Chemtrade Logistics Income Fund (TSX: CHE.UN) announced today that it has completed the previously announced purchase of the North American sodium hydrosulphite ("SHS") operations and assets of Clariant International Ltd. for US$62 million. The acquisition significantly expands Chemtrade's existing operations and permits Chemtrade to further increase the value of the sulphur based by-products it currently removes and markets.

The acquisition was funded by the proceeds of offerings of Subscription Receipts and Convertible Extendible Subordinated Debentures, and an increase in Chemtrade's term credit facility. The offerings of the Subscription Receipts and Convertible Debentures were completed on December 20, 2002. With the completion of the acquisition, the Subscription Receipts are exchanged for Units of the Fund effective December 30, 2002 and the maturity of the Convertible Debentures is extended to December 31, 2007.

Chemtrade previously announced a $0.10 per unit distribution payable on January 31, 2003 to unitholders of record on December 31, 2002 . Chemtrade also previously announced that it expects to increase its monthly distribution from $0.10 per unit to $0.11 per unit effective with the distribution payable to unitholders of record on January 31, 2003 and to increase the supplemental quarterly distribution from $0.10 per unit to $0.11 per unit commencing with the quarterly distribution payable to unitholders of record on April 28.

Chemtrade Logistics Income Fund is one of the world's largest independent providers of removal services for producers of commercial chemical by-products and a leading marketer and distributor of these chemicals to customers around the world. Removal services are critical for producers, such as base metal smelters and oil refineries which produce the by-products during their normal processing activities. By-products must be removed to ensure producers meet environmental regulations and to avoid production interruptions.

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