IPSCO Announces Cash Dividends 

Regina, Saskatchewan, April 27, 2000 -- IPSCO Inc. (NYSE/TSE:IPS) announced a cash dividend on its common shares of $0.125 (Canadian) per share payable 30 June 2000 to shareholders of record as at 10 June 2000. The Company also announced a cash dividend of $0.34375 (Canadian) per Cumulative Redeemable First Preferred Share, Series 1 payable 15 August 2000 to shareholders of record as at 31 July 2000.