IPSCO Announces Cash Dividends 

Lisle, Illinois, December 18, 2000 -- IPSCO Inc. (NYSE/TSE:IPS) announced today a cash dividend of $0.34375 (Canadian) per Cumulative Redeemable First Preferred Share, Series 1 payable 15 February 2001 to shareholders of record as at 31 January 2001.