IPSCO Announces Cash Dividends

Lisle, Illinois, July 29, 2004 - IPSCO Inc. (NYSE/TSX:IPS) announced today a cash dividend on its common shares of $0.05 (Canadian) per share payable September 30, 2004 to shareholders of record at the close of business on September 10, 2004. 

Company Contact:
John Comrie, QC
Director of Trade Policy and Communications
Tel. 630-810-4730
Release 04-25

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