July
        ___,
        2008

       

      DELIVERED

       

      PRIVATE
        AND CONFIDENTIAL

       

       

      2172945
        Ontario Limited

      c/o
        Black
        Ice
        Capital Corp. 

      4100
        Yonge Street

      Suite
        504


      Toronto,
        Ontario 

      M2P
        2G2

       

      Attention:
        Jean
        Noelting

       

      Dear
        Sirs:

       

       

      Re:    Share
        Purchase Agreement - Disclosure Letter

       

      This
        letter is being delivered to you in connection with the Share and Asset Purchase
        Agreement (the “Agreement”),
        dated
July
        ___,
        2008,
        between Wolverine Tube Canada Limited Partnership (the “Vendor”),
        2172945
        Ontario Limited (the “Purchaser”),
        Copper Investments Holding Inc., Wolverine Tube, Inc. and Black Ice Capital
        Corp.
        This
        letter, together with its sections, form one document which is the Disclosure
        Letter referred to in the Agreement.

       

      Capitalized
        terms used in this Disclosure Letter have the meanings given to such terms
        in
        the Agreement unless they are defined in this Disclosure Letter. References
        to
        articles, section numbers or schedules are references to the relevant articles,
        sections or schedules of the Agreement.

       

      The
        purpose of this Disclosure Letter is to set forth information called for
        under
        the representations and warranties and other sections in the Agreement.


       

      The
        Parties acknowledge and agree that disclosure of the information contained
        in
        this Disclosure Letter does not constitute or imply and shall not be construed
        as:

       

      
        	 	
                (a)

              	
                any
                  representation, warranty, covenant or agreement which is not expressly
                  set
                  out in the Agreement; 

              


      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

       

      
        	 	
                (b)

              	
                an
                  admission of any liability or obligation of the Vendor;
                  

              


      

       

      
        	 	
                (c)

              	
                an
                  admission that the information is
                  material;

              


      

       

      
        	 	
                (d)

              	
                a
                  standard of materiality, a standard for what is or is not in the
                  ordinary
                  course of business, or any other standard contrary to any contained
                  in the
                  Agreement; or

              


      

       

      
        	 	
                (e)

              	
                an
                  expansion of
                  the scope or effect of any of the representations, warranties and
                  covenants set out in the Agreement.

              


      

       

      Disclosure
        of any information in this Disclosure Letter that is not strictly required
        under
        the Agreement has been made for informational purposes only and does imply
        disclosure of all matters of a similar nature. 

       

      This
        Disclosure Letter and all information contained in it is Confidential
        Information and is subject to the obligations of the parties pursuant to
        the
        Confidentiality Agreement. 

       

      [The
        remainder of this page is intentionally left blank.]

       

       

       

       

       

      
        
           

        

        
          -2-

          
            

          

        

        
           

        

      

    

    
      


      All
        of
        the information contained in this Disclosure Letter is provided as of the
        date
        of this Disclosure Letter. The
        titles and headings in this Disclosure Letter are for convenient reference
        only
        and are not to affect the interpretation of the Agreement or this Disclosure
        Letter. 

       

       

      Yours
        truly,

      
        	 	 	 
	 	
                WOLVERINE
                  TUBE CANADA LIMITED
                  PARTNERSHIP, by
                  its general partner, 3072453 Nova Scotia
                  Company

              
	 
 	 
 	 
 
	 	By:  	/s/ 
	 	
                

                Authorized
                  Signing Officer

              
	 	 


      

       

       

       

       

       

       

       

       

      
 

      
        
           

        

        
          -3-

          
            

          

        

        
           

        

      

       

      Accepted,
        acknowledged and agreed to on July
        ___,
        2008.

       

      
        	
                2172945
                  ONTARIO LIMITED

                 

              
	
                By:

              	
              
	 	
                Authorized
                  Signing Officer

                 

              
	 	 


      

       

       

       

       

       

       

      
 

      
        
           

        

        
          -4-

          
            

          

        

        
           

        

      

       

      Section 1.1

       

      Permitted
        Liens

       

      
        	
                 

                PERSONAL
                  PROPERTY SECURITY ACT (PPSA) REGISTRATIONS AGAINST WOLVERINE
                  (ONTARIO)

                 

              
	
                Secured
                  Party

                 

              	
                File
                  Number

                 

              	
                Registration
                  Number

                 

              	
                Registration
                  Date

                 

              	
                Expiry/

                 

                Maturity
                  Date

                 

              	
                Collateral
                  Classification

                 

              	
                Collateral
                  Description

                 

              
	
                CIT
                  Business Credit Canada Inc., as Agent

                 

              	
                645488937

                 

              	
                20080527
                  1113 1862 1890

                 

              	
                05/27/2008

                 

              	
                7
                  Years

                 

              	
                I
                  /
                  E / A / O / MVI

                 

              	 
	
                Xerox
                  Canada Ltd.

                 

              	
                646484121

                 

              	
                20080627
                  1623 1793 4837

                 

              	
                06/27/2008

                 

              	
                3
                  Years

                 

              	
                E,
                  O, NFMD Unspecified

                 

              	 


      

      


       

      
        	
                 

                Secured
                  Party

                 

              	
                 

                Registration

                 

              	
                 

                Inscription

                 

              	
                 

                Date

                 

              	
                 

                Date
                  extrême D'effet

                 

              	
                 

                Collateral
                  Classification

                 

              	
                 

                Biens

                 

              
	 	 	 	 	 	 	
                1
                  ENREGISTREUR RESEAU 32 CAMERA 

              
	 	 	 	 	 	 	
                3
                  DISQUE DVR 250GB 

              
	 	 	 	 	 	 	
                1
                  UPS 1KVA AVEC 8 PRISES

              
	 	 	 	 	 	 	
                6
                  BOITE PVC

              
	 	 	 	 	 	 	
                12
                  BOITIER EXT. MURAL CHAUFFE

              
	 	 	 	 	 	 	
                25
                  CABLE BX2

              
	 	 	 	 	 	 	
                6
                  TRANSFO WIRE

              
	 	 	 	 	 	 	
                2400
                  CABLE CATEGORIE 5E EXT

              
	
                Protectron
                  Inc.

              	
                Reservation
                  of ownership (instalment sale)

              	
                06-0738349-0001

              	
                12/27/2006

              	
                12/21/2010

              	 	
                2400
                  CABLE 2 CONDUCTEURS 18GA

              
	 	 	 	 	 	 	
                500
                  QUINCAILLERIE

              
	 	 	 	 	 	 	
                5
                  SWITCH 16 PORTS

              
	 	 	 	 	 	 	
                4
                  CAMERA COULEUR

              
	 	 	 	 	 	 	
                4
                  LENTILLE 1/3

              
	 	 	 	 	 	 	
                4
                  BOITIER EXT

              
	 	 	 	 	 	 	
                6
                  UNITE ALIMENTATION 3A 12V

              
	 	 	 	 	 	 	
                1
                  UNITE ALIMENTATION

              
	 	 	 	 	 	 	
                3A
                  12V CA

              
	 	 	 	 	 	 	
                2400
                  CABLE JKT

              


      

       

       

      
        
           

        

        
          -5-

          
            

          

        

        
           

        

      

       

      
        	
                Secured
                  Party

              	
                 

                Registration

                 

              	
                 

                Inscription

                 

              	
                 

                Date

                 

              	
                 

                Date
                  extrême D'effet

                 

              	
                 

                Collateral
                  Classification

                 

              	
                 

                Biens

              


      

       

      
        	 	 	 	 	 	 	
                95
                  QUINCAILLERIE

              
	 	 	 	 	 	 	
                4
                  SUPPORT POUR BOITIER

              
	 	 	 	 	 	 	
                8
                  CONNECTEUR POUR SEAL TIGHT

              
	 	 	 	 	 	 	
                4
                  BOITE EXT PR PRI

              
	 	 	 	 	 	 	
                4
                  CABLE SEAL TIGHT 1/2POUCE

              
	 	 	 	 	 	 	
                25
                  DET. DE MOUVEMENT EXT.

              
	 	 	 	 	 	 	
                1
                  PABBEAU EVO

              
	 	 	 	 	 	 	
                1
                  CLAVIER LCD

              
	 	 	 	 	 	 	
                1
                  KIT ACCESOIRES, BATTERIE 7, TRANSFO

              
	 	 	 	 	 	 	
                2
                  MODULE EXP.8 ZONE

              
	 	 	 	 	 	 	
                5
                  MOD.4 ZONE

              
	 	 	 	 	 	 	
                4
                  MODULE 4 SORTIE

              
	 	 	 	 	 	 	
                5
                  BOITE JONCTION

              
	 	 	 	 	 	 	
                1
                  CONVERTISSEUR PANNEAU A ORDINATEUR

              
	 	 	 	 	 	 	
                1
                  LOGICIEL POUR ACCES DIGIPLEX

              
	 	 	 	 	 	 	
                1
                  BOITIER SUPRA 

              
	 	 	 	 	 	 	
                CT4036426/4036411/4036413

              


      

      


       

      Plus
        see
        Schedule “A” attached.

       

       

      


      
        
           

        

        
          -6-

          
            

          

        

        
           

        

      

       

      Section 3.1(c)

       

      Conflicts

       

      None.

       

       

      


      
        
           

        

        
          -7-

          
            

          

        

        
           

        

      

       

      Section 3.1(d)

       

      Required
        Authorizations

       

      None.

       

       

      


      
        
           

        

        
          -8-

          
            

          

        

        
           

        

      

       

      Section 3.1(e)

       

      Third
        Party Consents

       

      None.

       

       

      
        
           

        

        
          -9-

          
            

          

        

        
           

        

      

      
 

      Section 3.1(l)

       

      Ordinary
        Course

       

      Termination
        of Exeon Inc. Metal Supply and Hedging Agreement. 

       

      Purchase
        of redraw tube from a supplier in China (Hailaing).

       

      Cash
        was
        transferred from Corporation to Wolverine as of May 25, 2008.

       

      Intercompany
        accounts adjusted prior to Closing.

       

      Some
        or
        all of the cash advanced by Wolverine to Corporation during Interim Period
        was
        repaid.

       

      $80,851.62
        paid to CIT Business Credit Canada Inc. for payment of legal fees.

       

      US$9,836.36
        paid to Bell, Boyd and Lloyd.

       

      A
        dividend in the amount of $789,917 was declared and paid as set out in step
        1 of
        Schedule 2.6(c).

       

       

      
        
           

        

        
          -10-

          
            

          

        

        
           

        

      

      


      Section 3.1(n)

       

      Authorizations

       

      Jurisdictions

       

      Parent
        -
        Nova Scotia

      Corporation
        - Ontario

       

      Material
        Authorizations 

       

      Ministry
        of Finance - Retail Sales Tax - Vendor Permit 1185-0833

       

      


       

       

      
        
           

        

        
          -11-

          
            

          

        

        
           

        

      

       

      


      Section 3.1(p)

       

      Non-Owned
        Assets 

       

      
        	
                1.

              	
                Maintenance,
                  repair and operating supplies inventory on consignment from Motion
                  Industries (Canada) Inc. 

              


      

       

      
        	
                2.

              	
                The
                  software and hardware in the list attached to Section 3.1(w) of
                  this
                  Disclosure Letter

              


      

       

      
        	
                3.

              	
                The
                  software and hardware provided by Wolverine Tube, Inc. as set out
                  in the
                  Transitional Services Agreement

              


      

       

      
        	
                4.

              	
                Etna
                  lubricant consignment inventory

              


      

       

       

      
        
           

        

        
          -12-

          
            

          

        

        
           

        

      

      


      Section 3.1(q)

       

      No
        Options, etc.

       

      See
        Section 3.1(l) of this Disclosure Letter and Section 5.1 of the
        Agreement.

       

      Canadian
        Receivables Sale Agreement dated April 4, 2006, among DEJ 98 Finance, LLC,
        the
        Corporation, The CIT Group Business Credit Inc. and Wachovia Bank, National
        Association, as amended, and subject to the Canadian Receivables Sale
        Termination and Reassignment Agreement dated as of May 25, 2008 among DEJ
        98
        Finance, LLC, the Corporation, The CIT Group Business Credit Inc. and Wachovia
        Bank, National Association.

       

       

      
        
           

        

        
          -13-

          
            

          

        

        
           

        

      

      


      Section 3.1(s)

       

      Real
        Property

       

      Part
        North Half Lot 4 Concession 2; designated parts 1, 2, 3 & 4 33R8179 subject
        to and together with 760454 & 805524London/London township.

       

       

      
        
           

        

        
          -14-

          
            

          

        

        
           

        

      

      


      Section 3.1(t)

       

      Material
        Contracts

       

      The
        Corporation is a party to or is bound by a Material Contract with each of
        the
        following Persons.

      
 

      
        	
                1

              	
                Shell
                  Energy North America (Canada) Inc.

              	 	
                41
                  

              	
                Fabrication
                  A. St. Pierre

              
	
                2

              	
                Union
                  Gas Limited

              	 	
                42

              	
                Fairview
                  Fittings & Manufacturing Ltd.

              
	
                3

              	
                Intergry
                  Energy Services of Canada Corp.

              	 	
                43

              	
                Flakt-Coiltech

              
	
                4

              	
                Canaplus

              	 	
                44

              	
                Giant
                  Factories

              
	
                5

              	
                Ac
                  EMCO Distribution Group

              	 	
                45

              	
                Global
                  Heat Transfer

              
	
                6

              	
                Octo
                  Group

              	 	
                46

              	
                Hi
                  Mill Manufacturing

              
	
                7

              	
                Wolseley
                  Canada Inc.

              	 	
                47

              	
                IISCO
                  Corporation

              
	
                8

              	
                Carrier
                  Canada

              	 	
                48

              	
                Intergris
                  Metals Inc.

              
	
                9

              	
                Corix
                  Water Products

              	 	
                49

              	
                Kamco
                  Products

              
	
                10

              	
                Crowle
                  Fittings

              	 	
                50

              	
                KOAX
                  Corporation

              
	
                11

              	
                Lennox
                  Industries Canada Ltd.

              	 	
                51

              	
                Georges
                  Laflamme Inc.

              
	
                12

              	
                Home
                  Hardware

              	 	
                52

              	
                Linderme
                  Tube Co.

              
	
                13

              	
                Rona
                  Inc.

              	 	
                53

              	
                L
                  & M Precision Products

              
	
                14

              	
                United
                  Refrigeration

              	 	
                54

              	
                L
                  & M Radiators Inc.

              
	
                15

              	
                Canadian
                  Tire Corporation

              	 	
                55

              	
                Madok
                  Manufacturing Ltd.

              
	
                16

              	
                Lowe’s
                  Canada

              	 	
                56

              	
                Marmon-Key
                  Stone

              
	
                17

              	
                The
                  Trane Company

              	 	
                57

              	
                Mecar
                  Metal Inc.

              
	
                18

              	
                Goodman
                  Manufacturing Company

              	 	
                58

              	
                Namasco
                  Limited

              
	
                19

              	
                Spancan

              	 	
                59

              	
                Packless
                  Industries

              
	
                20

              	
                Accuflex

              	 	
                60

              	
                Phillips
                  & Johnson

              
	
                21

              	
                Alberta
                  Custom Tee Ltd.

              	 	
                61

              	
                Phillip
                  & Thermo

              
	
                22

              	
                Armstrong
                  Hunt Inc.

              	 	
                62

              	
                Profab
                  Inc.

              
	
                23

              	
                Arrow
                  Hose & Tubing

              	 	
                63

              	
                Pyroil/Noma

              
	
                24

              	
                A.S.B
                  Heating

              	 	
                64

              	
                QBD
                  Cooling Systems Inc.

              
	
                25

              	
                Assemblage
                  Paro

              	 	
                65

              	
                Rapid
                  Refrigeration

              
	
                26

              	
                Boreale
                  (Tressages Boreale)

              	 	
                66

              	
                Semple-Gooder
                  Roofing Ltd.

              
	
                27

              	
                Bow
                  Metallics

              	 	
                67

              	
                Sigma
                  Corporation

              
	
                28

              	
                Brass
                  Craft Canada

              	 	
                68

              	
                Siant/Fin
                  Ltd./Ltee.

              
	
                29

              	
                Bunn-O-Matic
                  Corp. of Canada

              	 	
                69

              	
                Small
                  Tube Products

              
	
                30

              	
                Cambridge
                  Brass

              	 	
                70

              	
                Spinco
                  Metal Products

              
	
                31

              	
                Canadian
                  Brass & Copper Co.

              	 	
                71

              	
                Stamford
                  Metal Products Ltd.

              
	
                32

              	
                Canadian
                  Distribution Centre

              	 	
                72

              	
                Stamford
                  Metals Products Ltd. (Cap Tub)

              
	
                33

              	
                Canadian
                  Tubular elements Ltd.

              	 	
                73

              	
                Temspec
                  Inc.

              
	
                34

              	
                CCI
                  Thermal Technologies Ltd/

              	 	
                74

              	
                Thaler
                  Metal Industries Ltd.

              
	
                35

              	
                Cancoil
                  Thermal Corporation

              	 	
                75

              	
                Thermo
                  Concepts Inc.

              
	
                36

              	
                Cello
                  Products

              	 	
                76

              	
                Thermofin

              
	
                37

              	
                Cintube
                  Products

              	 	
                77

              	
                Thermo
                  200 Inc.

              
	
                38

              	
                Dahl
                  Brothers Canada Ltd.

              	 	
                78

              	
                Tregaskiss

              
	
                39

              	
                Elkhart
                  Products Corporation

              	 	
                79

              	
                Tri-Went
                  Industries Ltd (Canada)

              
	
                40

              	
                Engineered
                  Air

              	 	
                80

              	
                Tri-Went
                  Industries Ltd. (Knoxville, TN)

              


      

       

      
        
           

        

        
          -15-

          
            

          

        

        
           

        

      

       

      


      
        	
                81

              	
                
                  Turbotec
                    Products Inc.

                

              	 	
              	
                 

              
	
                82

              	
                
                  Tyco
                    Thermal Controls

                

              	 	
                 

              	 
	
                83

              	
                
                  Unified
                    Alloys

                

              	 	
                 

              	 
	
                84

              	
                
                  Vemar
                    Ces Inc.

                

              	 	
                 

              	 
	
                85

              	
                
                  Ventrol
                    air Handling systems Inc.

                

              	 	
                 

              	 
	
                86

              	
                
                  Vimetal

                

              	 	
                 

              	 
	
                87.

              	
                WC
                  Wood Company.

              	 	 	 
	
                88.

              	
                Churchill
                  Logistics Inc.

              	 	 	 


      

       

      

 

      
        
           

        

        
          -16-

          
            

          

        

        
           

        

      

       

      Section 3.1(w)

       

      Software

       

      The
        software listed in the attached list of software and hardware.

       

      


      
        
          
             

          

          
            -17-

            
              

            

          

          
             

            -
              -

             

          

        

      

      


      Section 3.1(x)

       

      Financial
        Statements

       

      See
        attached Financial Statements and Interim Financial Statements

       

       

      
        
           

        

        
          -18-

          
            

          

        

        
           

        

      

      


      Section 3.1(z)

       

      Environmental
        Matters 

       

      
        	
                1.

              	
                Below
                  is a list setting out the contaminants located in the ground or
                  in the
                  ground water under any of the owned properties listed in the
                  Section 3.1(s) of this Disclosure
                  Letter.

              


      

       

      Sodium
        Dichromate

       

      


       

      


       

      
        	
                2.

              	
                Below
                  is a list setting out any Environmental Actions relating to the
                  Corporation pending or, to the knowledge of the Vendor, threatened
                  in
                  writing against the Vendor.

              


      

       

      None

       

      


       

      


       

      
        	
                3.

              	
                Below
                  is a list setting out any requirements of any Governmental Entity
                  since
                  January
                  1, 2002
                  that the Corporation alter any of the owned properties listed in
                  Section 3.1(s) of the Disclosure Letter or perform any environmental
                  closure, decommissioning, rehabilitation, restoration or post-remedial
                  investigations, on, about or in connection with any real
                  property.

              


      

       

      None

       

      


       

      


       

      
        	
                4.

              	
                Below
                  is a list setting out any third party consultant reports prepared
                  or
                  obtained at the request of the Corporation since January
                  1, 2002
                  that assess compliance by the Business with the Environmental
                  Laws.

              


      

       

      Golder
        Associates Ltd. Report on Environmental Monitoring - Removal of
        Varsolâ
        Impacted
        Soil dated January 10, 2007

       

      


       

      
        
           

        

        
          -19-

          
            

          

        

        
           

        

      

       

      


      Section 3.1(aa)

       

      Employees

      


       

      No
        unfair
        labour practice complaints are pending.

       

      No
        agreements relating to length of notice or severance payments required to
        terminate any employee, other than such as results by Law from the employment
        of
        an employee without an agreement as to notice or severance.

       

       

      
        
           

        

        
          -20-

          
            

          

        

        
           

        

      

      


      Section 3.1(bb)

       

      Employee
        Plans

       

      
        	
                1.

              	
                Sun
                  Life Assurance Company of Canada - Drugs, extended health, Dental,
                  Vision,
                  Out of Province coverage, etc. 

              


      

       

      
        	
                2.

              	
                Sun
                  Life Assurance Company of Canada - Long Term Disability/Extended
                  Health

              


      

       

      
        	
                3.

              	
                American
                  Home Assurance Company - Accidental

              


      

       

      
        	
                4.

              	
                Profit
                  Sharing Retirement Plan, London
                  Operations

              


      

       

      
        	
                5.

              	
                Incentive
                  Plans - Marketing Incentive Plan, Customer Service Representative
                  Incentive Plan, Corporate Incentive and Plant Improvement Incentive
                  Plan,
                  Annual Performance Incentive Plan, 2006 Sales Incentive
                  Plan

              


      

       

      
        	
                6.

              	
                Policy:
                  Separation of Salaried Employees

              


      

       

       

      


      
        
           

        

        
          -21-

          
            

          

        

        
           

        

      

       

      Section 3.1(cc)

       

      Insurance
        Policies

       

      
        	
                 

                Type
                  of Policy

                 

              	
                 

                Name
                  of Insurer

                 

              	
                 

                Coverage
                  Allowance

                 

              	
                 

                Expiration
                  Date

                 

              	
                 

                Annual
                  Premium

                 

              	
                 

                Pending
                  Material Claims

                 

              
	
                 

                Fiduciary

                 

              	
                 

                American
                  Home Assurance Company

                 

              	
                 

                $2,000,000

                 

              	
                 

                April
                  1, 2009

                 

              	
                 

                $12,780

                 

              	
                 

                none

                 

              
	
                 

                Automobile
                  

                 

              	
                 

                Aviva
                  Ins. Co. of Canada

                 

              	
                 

                $2,000,000
                  liability Actual Cash Value Physical Damage

                 

              	
                 

                April
                  1, 2009

                 

              	
                 

                $1,731

                 

              	
                none

                 

              
	
                 

                Commercial

                 

              	
                Aviva
                  Ins. Co. of Canada

                 

              	
                 

                $2,000,000
                  per Occurrence 

                 

                $2,000,000
                  Aggregate

                 

              	
                 

                April
                  1, 2009

                 

              	
                 

                $67,318

                 

              	
                none

                 

              
	
                 

                Property

                 

              	
                 

                Allianz
                  Global Risks US Insurance Company

                 

              	
                 

                Replacement
                  value policy

                 

              	
                 

                October
                  1, 2008

                 

              	
                 

                $66,689

                 

              	
                none

                 

              


      

      


       

      


      
        
           

        

        
          -22-

          
            

          

        

        
           

        

      

       

      Section 3.1(dd)

       

      Litigation

       

      
        	
                1.

              	
                Litigation:

              


      

       

      
        

          
            	
                    County
                      of Middlesex (London)

                  	
                    Case
                      No.

                  	
                    48939/04

                  
	 	
                    Plaintiff:

                  	
                    Wolverine
                      Tube (Canada) Inc.

                  
	 	
                    Defendant:

                  	
                    Not
                      available

                  
	 	
                    Date:

                  	
                    2004

                  
	
                    Belleville,
                      Ontario

                  	
                    Case
                      No. 

                  	
                    CV-08-0132-SR

                  
	 	
                    Plaintiff:

                  	
                    John
                      Hannah

                  
	 	
                    Defendants:

                  	
                    Wolverine
                      Tube (Canada) Inc., 

                    Kamco
                      Products and Whitfields 

                    
                      Plumbing
                        & Heating

                    

                  
	
                    Ottawa,
                      Ontario

                  	
                    Date:

                  	
                    2008

                  
	
                     

                  	
                    Case
                      No.

                  	
                    CV-08-0131-00

                  
	 	
                    Plaintiff:

                  	
                    John
                      Hannah

                  
	 	
                    Defendants:

                  	
                    Kamco
                      Products, a division of Granby Steel Tanks and Wolverine Tube
                      (Canada)
                      Inc. 

                    and
                      Richard F. Musclow c.o.b.
                      
                      Musclow
                        Heating & Air 

                    

                  
	 	
                     

                  	
                    Conditioning
                      and Stan Fergusson Fuels Ltd.

                  
	
                    Waterdown,
                      Ontario

                  	
                    Plaintiff:

                  	
                    DiCecca

                  
	 	
                    Defendants:

                  	
                    Wolverine
                      Tube (Canada) Inc., 

                  
	 	
                     

                  	
                    Sandwell
                      Fuels Limited and 

                  
	 	
                  	
                    Kamco
                      Products

                  
	 	
                    Date:

                  	
                    2005

                  
	
                    Toronto,
                      Ontario

                  	
                    Case
                      No.

                  	
                    07-CV-329501PD2

                  
	 	
                    Plaintiff:

                  	
                    Peel
                      Standard Condominium Corporation No. 661

                  
	 	
                    Defendants:

                  	
                    Enerzone
                      Inc., Network Mechanical Inc., Tridel Corporation, Delterra
                      Inc., Skymark
                      West Inc., York International Ltd. and Wolverine Tube (Canada)
                      Inc.

                  
	
                    Province
                      of Québec

                  	
                    Case
                      No.

                  	
                    500-22-065226-014

                  
	 	
                    Plaintiff:

                  	
                    Wolverine
                      Tube (Canada) Inc.

                  
	 	
                    Defendant:

                  	
                    Atelier
                      Marines et Industriels J L Pier
                      Inc.

                  


          

        

      

      


       

      
        	
                2.

              	
                One
                  pending Workers’ Safety and Insurance Board claim, second appeal
                  

              


      

       

      


      
        
           

        

        
          -23-

          
            

          

        

        
           

        

      

      


      Section 3.1(ee)

       

      Customers
        and Suppliers 

       

      The
        following is a list of the Corporation’s ten largest customers and the ten
        largest suppliers by dollar amount as at December 31, 2007.

       

      Customers

       

      1. Emco
        Limited - London, Ontario

       

      2. Elkhart
        Products Corp. - Elkhart, Indiana

       

      3. Small
        Tube Products - Altoona, Pennsylvania

       

      4. Noble
        Plumbing & Supplies Inc. - Concord, Ontario

       

      5. Wolseley
        Canada Inc. - Laval, Québec

       

      6. Wolseley
        Canada Inc. - Calgary, Alberta

       

      7. Canaplus
        Limited Partnership - Edmonton, Alberta

       

      8. RONA,
        Inc. - Boucherville, Québec

       

      9. Bow
        Metallics Inc. - Dorchester, Ontario

       

      10. Wolseley
        Canada Inc. - Laval, Québec

       

      Suppliers

       

      1. Noranda
        Sales Corporation Toronto

       

      2. American
        Iron Metal Montreal

       

      3. Coopers
        Iron & Metal Toronto

       

      4. Québec
        Meal Recycle Laval

       

      5. Wolverine
        Tube Inc.

       

      6. Boni
        Metal Canada Montreal

       

      7. Triple
        M
        Metal Brampton

       

      8. Red
        Kite
        Management (USA) Inc.

       

      9. London
        Salvage London

       

      10. Livingston
        International 

       

      


      
        
           

        

        
          -24-

          
            

          

        

        
           

        

      

      


      Section 3.2(c)

       

      Conflicts

       

      There
        is
        a conflict with Wolverine’s Amended and Restated Credit Agreement unless
        Wachovia Bank, National Association consents to the transaction.

       

      


      


      
        
           

        

        
          -25-

          
            

          

        

        
           

        

      

       

      Section
        3.2(d)

       

      Required
        Authorizations

       

      None

       

       

      
        
           

        

        
          -26-

          
            

          

        

        
           

        

      

      


      Section
        3.2(e)

       

      Third
        Party Consents

       

      Wachovia
        Bank, National Association

       

       

      
        
           

        

        
          -27-

          
            

          

        

        
           

        

      

      


      Section 5.1

       

      Water
        Based Degreasing System - capital expenditure

       

       

      


      
        
           

        

        
          -28-

          
            

          

        

        
           

        

      

      


      
        	
                Exhibit

              
	
                Effective
                  Date Balance Sheet

              
	 	 	 	 	 	 	 
	
                WOLVERINE
                  TUBE (CANADA) INC

              
	
                NET
                  ASSET POSITION

              
	
                as
                  at May 25, 2008

              
	
                (Unaudited,
                  Non-GAAP)

              


      

       

       

       

      
        	
                (in
                  thousands, CDN $)

              	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	
                NOTE

              	 	 	 	 
	
                CURRENT
                  ASSETS

              	 	 	 	 	 	 	 	 	 	 
	
                Cash

              	 	 	
                petty
                  cash

              	 	 	
                1

              	 	
                $

              	
                1

              	 
	
                Accounts
                  Receivable

              	 	 	
                trade

              	 	 	 	 	 	
                31,433
                  

              	 
	
                 

              	 	 	
                other 

              	 	 	 	 	 	
                1,522
                  

              	 
	
                Inventory

              	 	 	
                excl
                  MRO

              	 	 	 	 	 	
                14,378
                  

              	 
	
                MRO

              	 	 	 	 	 	 	 	 	
                4,148
                  

              	 
	
                Other
                  Current Assets

              	 	 	
                prepaids

              	 	 	 	 	 	
                4,257
                  

              	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	
                $

              	
                55,739

              	 
	 	 	 	 	 	 	 	 	 	 	 
	
                CURRENT
                  LIABILITIES

              	 	 	 	 	 	 	 	 	 	 
	
                Accounts
                  Payable

              	 	 	
                trade

              	 	 	
                2

              	 	
                $

              	
                5,276

              	 
	
                Accruals

              	 	 	 	 	 	
                3

              	 	 	
                5,446
                  

              	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	
                10,722
                  

              	 
	 	 	 	 	 	 	 	 	 	 	 
	
                Net
                  Working Capital

              	 	 	 	 	 	 	 	 	
                45,017
                  

              	 
	 	 	 	 	 	 	 	 	 	 	 
	
                NBV
                  of Capital Assets

              	 	 	 	 	 	 	 	 	
                11,238
                  

              	 
	
                Long
                  Term Post Retirement Benefits

              	 	 	 	 	 	
                4

              	 	 	
                (8,000

              	
                )

              
	 	 	 	 	 	 	 	 	 	 	 
	
                Net
                  Asset Position

              	 	 	 	 	 	 	 	
                $

              	
                48,255

              	 


      

       

      
        	
                NOTES

              	 
	
                1    
                  

              	
                Exludes
                  cash at Canada Corp. 

              
	
                2    
                  

              	
                Includes
                  Shawnee payable of $1,777,043 (U.S.)

              
	
                3    
                  

              	
                Includes
                  payroll liabilities, reorg fees, tax accruals

              
	
                4    
                  

              	
                Per
                  agreement

              


      

      


       

      
        
           

        

        
          -30-