IPSCO Announces New Director - Gordon Thiessen Joins Board

Regina, Saskatchewan, 25 September 2001, IPSCO (NYSE/TSE:IPS) announced today the election of Mr. Gordon Thiessen as a director of the corporation effective 1 October 2001. 

Burton Joyce, Chairman of the Board, stated "Mr. Thiessen brings to IPSCO a wealth of experience as the former Governor of the Bank of Canada. His insight into matters both economic and otherwise will be of immeasurable value to the Board. In addition, his deep prairie roots will be appreciated."

Mr. Thiessen grew up in Saskatchewan and attended the University of Saskatchewan where he obtained an Honours BA and a MA following which he lectured at the University. Mr. Thiessen joined the Bank of Canada in 1963 and subsequently obtained his PhD in Economics from the London School of Economics. Mr. Thiessen is a recipient of the Swedish Order of the Polar Star, and has been awarded honourary degrees from Universities of Saskatchewan and Ottawa.

Company Contact:
Anne Parker
Vice President
Tel. 630-810-4790
Release 01-34

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