SCHEDULE 14A
                                 (RULE 14A-101)
                     INFORMATION REQUIRED IN PROXY STATEMENT
                            SCHEDULE 14A INFORMATION

                PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

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                                                                  (as permitted by Rule 14a-6(e)(2))
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[ ] Soliciting Material Pursuant to Rule 14a-12



                            MERCER INTERNATIONAL INC.
                (Name of Registrant as Specified in its Charter)



                           GREENLIGHT CAPITAL, L.L.C.
                            GREENLIGHT CAPITAL, INC.
    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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                                EXPLANATORY NOTE

         Greenlight Capital, LLC, a Delaware limited liability company
("Greenlight LLC"), and Greenlight Capital, Inc., a Delaware corporation
(together with Greenlight LLC, "Greenlight"), have reached an agreement with
Mercer International Inc. ("Mercer") in connection with Greenlight's
solicitation of proxies in support of electing Greenlight nominees to the board
of trustees of Mercer at the 2003 annual meeting of shareholders. The press
release announcing the agreement is set forth below.

                            (GREENLIGHT CAPITAL LOGO)


                GREENLIGHT CAPITAL REACHES AGREEMENT WITH MERCER
                       INTERNATIONAL ON TWO BOARD NOMINEES

New York, NY; August 6, 2003: Greenlight Capital, Inc., ("Greenlight") today
announced that it has reached an agreement with Mercer International, Inc.
(Nasdaq: MERCS) ("Mercer") under which Mercer will nominate for election as
Trustees at its upcoming annual shareholders' meeting Guy W. Adams, a candidate
proposed by Greenlight, and an independent candidate proposed by three of
Mercer's other largest shareholders. Accordingly, Greenlight has withdrawn its
proposed nominations for trustees and terminated its proxy solicitation.

"We are pleased that Mercer's management has listened to our concerns over
corporate governance," said Daniel Roitman, Chief Operating Officer of
Greenlight. "We are also pleased that other significant shareholders in Mercer
have participated in achieving a resolution that is supported by all
stakeholders and is in the best interests of the Company."

"We believe there is substantial value in Mercer that can be delivered to all
shareholders, which is why we decided to push for change, rather than sell our
position. We hope that Guy Adams and the other new independent board member will
work cooperatively with Mercer's board and management to enhance corporate
governance, successfully implement the business plan, and represent all
shareholders."

David Einhorn, President of Greenlight added, "We believe this resolution will
enhance investor confidence in the marketplace and ensure that the value of
Mercer's assets are maximized for the benefit of Mercer's shareholders. I want
to thank Peter Kellogg, Coghill Capital Management and Cramer Rosenthal McGlynn
for assisting Mercer and Greenlight in reaching an agreement."

Mercer's Board of Trustees currently has seven members, two of whom are
scheduled to be elected at the company's annual meeting of shareholders on
August 22, 2003. On July 2, 2003, Greenlight filed a definitive proxy statement
with the Securities and Exchange Commission nominating two independent
candidates in opposition to management's candidates. Greenlight, an investment
management firm with a focus on long-term value investing, has been an investor
in Mercer since August 1997. Greenlight owns 14.9% of Mercer's shares
outstanding, and has been the company's largest shareholder since 2000. Mercer
is a pulp and paper manufacturing company with operations in Europe.


CONTACT INFORMATION:


Steve Frankel / Ed Rowley
The Abernathy MacGregor Group
(212) 371-5999