IPSCO Appoints Burton Joyce as New Chairman

Names Jack Michaels, Current Chairman of HON Industries, To Board 

Regina, Saskatchewan, May 5, 2000 -- IPSCO Inc. (NYSE: IPS) announced today appointment of Burton Joyce, 57, as Chairman of the company's Board of Directors. Mr. Joyce succeeds John Beddome, 70, having reached the company's mandatory retirement age.

Mr. Joyce is currently President and Chief Executive Officer of Terra Industries Inc. of Sioux City, Iowa. He has served as a member of IPSCO's Board since 1993.

IPSCO also announced the election of Jack Michaels, 62, to its Board of Directors. Mr. Michaels is currently Chairman of Hon Industries, a US-based manufacturer of office furniture. Mr. Michaels has also served in an executive capacity with such other companies as Huntsman Corporation, J. L. Case Company and International Harvester. These appointments increase the Board to 13 members.

Mr. Joyce noted, "IPSCO continues to expand throughout North America, particularly in the United States. My appointment as Chairman and the election of Jack to the Board significantly increases the presence of a US-based business perspective. This will be particularly useful as the company relocates its operational headquarters to the United States this summer."

As a mini-mill flat rolled steel producer since 1960, IPSCO has over 40 years of experience producing a diversified group of steel products and providing value-added materials to its customers. The company is recognized as a leader in using technology to produce high quality products in the most efficient way and at the lowest possible cost. The company has processing operations throughout the United States and Canada.

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

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