International Trade Commission Finds Injury in Plate Case

Chicago, Illinois, Jan. 21, 2000  -- IPSCO today announced that it is pleased with a recent finding by the US International Trade Commission. The ITC has found, by a unanimous vote of 5-0, that the domestic cut-to-length carbon steel plate industry in the United States, is materially injured due to dumped and subsidized products from India, Indonesia, Italy, Japan, and South Korea. With respect to France the ITC found that the domestic industry was being injured by a vote of 4-1.

As a result of this vote the Department of Commerce will implement earlier determined antidumping and countervail margins. These dumping margins were as high as 72.49 percent and countervail margins were as high as 47.71 percent.

IPSCO Steel Inc. President, Joe Russo, stated that, "The domestic industry has been harmed immensely by the surge of imported material that has been entering the US. Actions such as those taken by the ITC and the Department of Commerce will assist in restoring our markets to recognize the efforts of highly efficient producers."

Carbon steel plate is used in infrastructure construction, bridges, barges, and construction and farm equipment.

This news release contains forward looking information with respect to IPSCO's operations and beliefs. Actual results may differ from these forward looking statements due to numerous factors, including those discussed in IPSCO's 1998 Annual Report for its fiscal year ended December 31, 1998.

Company Contact:
Anne Parker
Vice President, Trade Policy and Communications
IPSCO Inc.
Tel: 306-924-7390

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