IPSCO Reschedules Release of Third Quarter Results

Change Necessitated by S.201 Workload

Lisle, Illinois, 5 October 2001, IPSCO (NYSE/TSE:IPS) today announced that it had rescheduled the release of its third quarter results to October 18 in order to allow its financial staff to prepare, on a priority basis, information for the International Trade Commission in conjunction with the Section 201 Safeguard action. Previously the company expected to publish its third quarter results on October 16. "We run a lean head office and we just don't have the staff to complete our financial closing at the same time as we respond to the I.T.C. Providing this input to the I.T.C. is time sensitive and very important to our shareholders," said Bob Ratliff, Vice President and Chief Financial Officer. The results will be released on October 18 at 6am EST.

A conference call with analysts will be webcast commencing at 11am EST on October 18.

Company Contact:
Anne Parker, Vice President
Tel. 630-810-4790
Release 01-36

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