Bauxite mine privatization.

Cambior Inc. (based in Longueuil, Quebec) on Dec. 10 announced the completion of the privatization of certain assets of Linden Mining Enterprises Ltd. (Linmine), located 100 km south of the capital city of Georgetown. A new company, OMAI Bauxite Mining Inc. (OBMI), has been incorporated and is owned 70% by Cambior and 30% by the Government of Guyana. The Government is contributing the processing plant and service facilities, the Montgomery mine with significant mineral reserves of 62 million tons of bauxite at 60% A1203, and other mining leases and prospecting licenses on additional bauxite resources in the Linden area, including Block 37 with resources of 85 million tons of bauxite at 59% A1203. Cambior is investing US$10 million; US$5 million is cash and the balance represents mine equipment transfers from OMAI Gold Mines Ltd (OGML). OBMI has also received a commitment for a US$10 million credit facility from a Caribbean financial institution on a non-recourse basis. This facility is for 10 years at an interest rate of 10.5% per year. Details: Cambior Inc., Robert LaValliere Manager--Investor Relations [phone] Fax: [phone] E-mail: [e-mail]. Web: www.cambior.com