First Plate Shipped From IPSCO'S Mobile Steelworks

Lisle, Illinois, 25 April 2001, IPSCO (NYSE/TSE:IPS) announced today that it had shipped the first material to customers from its new Mobile Steelworks which is expected to produce 1,250,000 tons per annum at full production. The prime A36 plate in a range of sizes was shipped to Ryerson Tull, Metals USA and O’Neal Steel at locations in close proximity to the mill. The steelworks will continue to extend the range of sizes and grades throughout its start-up phase which is expected to last about six months.

John Tulloch, Senior Vice President and Chief Commercial Officer, stated that, “We are extremely pleased with the progress of the mill. These shipments are further evidence that the Mobile Steelworks has met all of the timing milestones that had been set for it. The product coming off the facility is prime material that we are pleased to ship to our customers.”

The $425 million facility will produce discrete plate and coiled hot rolled plate and near plate used in such diverse applications as building and construction, bridges, barges, railcars, storage tanks, machinery and equipment, agricultural implements, and pipemaking.

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 projects, mechanical and equipment difficulties, ability to attract qualified workers, potential markets and demand for the materials produced, level of potential imports, market forces, domestic pricing of steel products, and trade actions. 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 2000, its MD&A and Form 40-F.

For Further Information Please Contact:
IPSCO Inc.
John Tulloch
Senior Vice President and Chief Commercial Officer
Tel. 630-810-4767
Release 01-18

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