Certificate of Insurance                                           EXHIBIT 10.46
March 6, 2001

PRODUCER:
Mesirow Insurance Services
321 N. Clark Street, Suite 1200
Chicago, IL  60610

INSURED:
United Stationers Supply Co.
United Stationers Inc.
2200 East Golf Road
Des Plaines, IL  60016-1267

This certificate is issued as matter of information only and confers no
rights upon the certificate holder. This certificate does not amend, extend
or alter the coverage afforded by the policies below.

COVERAGES:
This is to certify that the policies of insurance listed below have been issued
to the insured named above for the policy period indicated, notwithstanding any
requirement, term or condition of any contract or other document with respect to
which this certificate may be issued or say pertain, the insurance afforded by
the policies described herein is subject to all the terms, exclusions and
conditions of such policies. Limits shown may have been reduced by paid claims.

COMPANIES AFFORDING COVERAGE:


                                         
   A.    FEDERAL INSURANCE COMPANY

         Type of Insurance:                 Directors & Officers Liability
         Policy Number:                     8146-03-32B
         Policy Effective Date:             4/01/01
         Policy Expiration Date:            4/01/03
         Limits:                            $25,000,000
                                            $250,000 Deductible

   B.    GREAT AMERICAN INSURANCE COMPANY

         Type of Insurance:                 Excess Directors & Officers Liability
         Policy Number:                     DFX0009370
         Policy Effective Date:             4/01/01
         Policy Expiration Date:            4/01/03
         Limits:                            $20,000,000


     CANCELLATION:
     Should any of the above described policies be cancelled before the
     expiration date thereof, the issuing company will endeavor to mail 30 days
     written notice to the certificate holder named to the left, but failure to
     mail such notice shall impose no obligation or liability of any kind upon
     the company, its agents or representatives.