<B>Shareholders Approve Cascades Restructuring</B>

Shareholders of Paperboard Industries International, Perkins Papers Ltd. and Rolland Inc. have approved Cascades Inc.'s restructuring proposal. The restructuring plan involves exchanging all of the common shares held by the minority shareholders of Paperboard, Perkins and Rolland for new common shares of Cascades. On completion, Cascades will own all the shares of Paperboard, Perkins and Rolland.

The plan was first announced July 10. It is expected to become effective Jan. 1, 2001.

Cascades said 99.9% of the votes cast at the meeting by minority shareholders of Paperboard were in favor of the restructuring, as were 99.9% of the votes cast by the minority shareholders of Perkins and 76.4% of the votes cast by minority shareholders of Rolland.

Cascades Inc. produces packaging products, fine paper and tissue papers. Paperboard makes coated boxboard. Perkins Papers makes and converts tissue paper. Rolland makes fine papers and de-inked pulp.