Notes to Professionals

Notes to Professionals. (a) Pioneer Companies, Inc. Promissory Note dated May 15, 2002, in the stated principal amount of $2,806,554.09, executed by Pioneer Companies, inc., and payable to the order of Dresdner Kleinwood Wasserstein, Inc., and (b) Pioneer Companies, Inc. Promissory Note dated May 15, 2002, in the stated principal amount of $621,439.85 executed by Pioneer Companies, Inc., and payable to the order of Houlihan Lokey Howard & Zukin Capital.