CHEMTRADE LOGISTICS ANNOUNCES CLOSING OF OFFERING OF $86.4 MILLION SUBSCRIPTION RECEIPTS

TORONTO, August 15, 2003 - Chemtrade Logistics Income Fund (TSX: CHE.UN) announced today that it has completed the previously announced offering of 5,860,000 Subscription Receipts at a price of $14.75 per Subscription Receipt for gross proceeds of approximately $86.4 million. The offering was undertaken on a bought deal basis.

The net proceeds of the offering, combined with a $40 million committed increase in Chemtrade’s term credit facility, will fully fund the $117.3 million acquisition of the operations and assets of the B.C. Chemicals division of Canadian Forest Products Ltd. ("Canfor"). The acquisition is expected to close on August 29, 2003 at which time the Subscription Receipts are exchangeable on a one-for-one basis for units of the Fund.

The Subscription Receipts have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States.

Chemtrade Logistics operates diversified businesses that provide industrial chemicals and services to customers in North America and around the world. Through marketing services agreements and its own production facilities, Chemtrade is one of the world’s largest suppliers of sulphuric acid, liquid sulphur dioxide and sodium hydrosulphite. Chemtrade is also a leading regional supplier of elemental sulphur.

For further information:

©2007 Chemtrade Logistics Inc. Disclaimer