Perkins Paper Ltd. - MRRS Decision

IN THE MATTER OF

THE SECURITIES LEGISLATION OF

ONTARIO AND QUÉBEC

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEW SYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

PERKINS PAPERS LTD.

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatory authority or regulator (the "Decision Makers") in each of Ontario andQuébec (the "Jurisdictions") has received an application from Perkins Papers Ltd. (the "Filer") for a decision under thesecurities legislation of the Jurisdictions (the "Legislation") that the Filer be deemed to have ceased to be a reportingissuer in each of the Jurisdictions;

AND WHEREAS under the Mutual Reliance Review System for Exemptive Relief Applications (the "System"),the Commission des valeurs mobilières du Québec is the principal regulator for this application;

AND WHEREAS the Filer has represented to the Decision Makers that:

1. The Filer is a corporation governed by the Canada Business Corporations Act and a reporting issuer in eachof the Jurisdictions.

2. The head office of the Filer is located in Candiac, Québec.

3. The authorized share capital of the Filer consists of an unlimited number of Common Shares and an unlimitednumber of Preferred Shares; Cascades holds 37 874 305 Common Shares and there are no other registeredshareholders of the Filer.

4. The Common Shares of the Filer were delisted from The Toronto Stock Exchange on January 8, 2001 and theFiler no longer has any of its securities listed or traded on any exchange or market.

5. The Filer is not in default of any of the requirements under the Legislation.

6. The Filer results from the amalgamation of 3715973 Canada Inc. with Perkins Papers Ltd, which had been areporting issuer under the Legislation for at least twelve months prior to the amalgamation.

7. Following the completion of the amalgamation, Cascades Inc. became the sole shareholder of the Filer.

8. The Filer has no other securities, including debt securities, outstanding.

9. The Filer does not intend to seek public financing by way of an offering of securities.

AND WHEREAS under the System, this MRRS Decision Document evidences the decision of each DecisionMaker (collectively the "Decision");

AND WHEREAS each of the Decision Makers is satisfied that the test contained in the Legislation that providesthe Decision Maker with the jurisdiction to make the Decision has been met;

THE DECISION of the Decision Makers under the Legislation is that the Filer is deemed to have ceased to bea reporting issuer in each of the Jurisdictions.

DATED at Montréal, on April 19th, 2001.

"Edvie Élysée"