X0202 4 2006-11-20 0 0001333274 MERCER INTERNATIONAL INC. MERC 0001135278 ADAMS GUY W 55 SOUTH LAKE AVENUE SUITE 720 PASADENA CA 91101 1 0 0 0 Shares of common stock 2006-11-20 4 S 0 45000 10.8747 D 92600 I 67600 through GWA Investments LLC Shares of common stock 2006-11-21 4 S 0 5000 10.9 D 87600 I 62600 through GWA Investments LLC Shares of common stock 2006-11-21 4 S 0 10000 10.8851 D 77600 I 62600 through GWA Investments LLC Mr. Adams owns 15000 shares directly and 62600 through GWA Investments Inc., of which Mr. Adams is the managing member. /s/ Guy Adams 2006-11-22