IPSCO Participates in Anti-Dumping Case 

Lisle, Illinois, November 13, 2000 -- IPSCO Steel Inc. announced today that, together with seven other steel companies, it had filed an anti-dumping case on imports of hot-rolled sheet from 11 countries; Argentina, China, India, Indonesia, Kazakhstan, Netherlands, Romania, South Africa, Taiwan, Thailand, and Ukraine. IPSCO was joined in the filing by Nucor Steel, Steel Dynamics Inc., Gallatin Steel Company, Bethlehem Steel, LTV, National, Weirton Steel and USS.

Roger Phillips, Chairman, IPSCO Steel Inc. stated that, "As an efficient and modern steel producer IPSCO knows that it has positioned itself to compete head on with imports that enter the U.S. in a fairly traded manner. The companies named in the petition are not trading in such a fashion. The influx of material from these countries has hurt our employees, our shareholders and the steel community as the imports weaken the domestic supply base. We cannot sit back and let the injury continue so we have filed the cases at this time."

The petition alleges that producers in Romania, China, Kazakhstan and Ukraine operating in non-market economies are dumping into the U.S. at margins in excess of 50%. For the market countries named, dumping margins range from 15% to 56%, and subsidy allegations range from 10% to 35%.

The Commerce Department will make a decision on the initiation of investigations by December 4 and the International Trade Commission will make a preliminary determination on a reasonable indication of injury by December 28. "We are asking that the Department of Commerce treat these petitions on an expedited schedule in the same manner in which they treated the petitions against Japan, Brazil, and Russia in 1998. We will be monitoring imports closely and intend to file critical circumstances allegations if trading companies try to rush in large volumes of imports," Phillips added.

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 estimated time of completion of cases, potential markets for the materials produced, market forces in other countries, domestic markets, international exchange rates, and changes to funding sources. These and other factors are outlined in IPSCO's regulatory filings with the Securities and Exchange Commission, including those on IPSCO's Annual Report for 1999, its MD&A and Form 40-F.

Company Contact:
Anne Parker
Vice President, Trade Policy and Communications
IPSCO
Tel: 630-810-4790

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