Mercer International Completes Note Offering

On October 10, 2003, Mercer International Inc. completed an offering of $108.9 million 8.5 per cent convertible senior subordinated notes due in 2010. RBC Dain Rausher Inc. acted as teh initial purchaser.

Mercer International was represented in Canada by Harj Sangra, Winston Yee, Stewart Muglich, Karim Lalani and Shawn Poirier of Sangra, Moller in Vancouver; and in the U.S. by David Wilson and Jeffry Shelby of Heller Ehrman White & McAuliffe LLP in Seattle.

RBC Dain Rauscher was represented in Canada by Gordon Chambers and Charles Hotel of Lawson Lundell in Vancouver; and in the U.S. by Mark Stegemoeller, Jeffrey Miller and Ann Lawrence of Latham & Watkins LLP in Los Angeles.