TRADE ALERT

Softwood Lumber Agreement Implementation Date Postponed Until November 2006

(October 1, 2006)

While October 1, 2006 represented the intended target date for the implementation of the new Softwood Lumber Agreement (SLA), the Canadian government’s Notice to Exporters Serial No. 144, released late Friday (September 29), as expected, announced the postponement of the SLA.

According to the announcement, U.S. and Canadian officials have decided to extend the entry into force date of the SLA until no later than November 1, 2006. Until the new requirements take effect, affected parties should continue to obtain export permits as prescribed under the National Lumber Export Monitoring Program, Notice to Exporters Serial No. 136, dated May 17, 2002. Furthermore, the U.S. will continue to mandate weekly export permit(s) for each mill of origin from all provinces and territories.

For additional information on the Softwood Lumber Agreement, please refer to the following link http://www.dfait-maeci.gc.ca/trade/eicb/softwood/SLA-main-en.asp.

Deringer, continues to monitor this issue and will provide more information as it becomes available. For more information, please contact your local Deringer branch at 800-448-8108.