IPSCO Donates $100,000 To The Red Cross Tsunami Relief Fund
(Company Also Pledges To Match Employee Donations Made To Relief Effort)

Lisle, Illinois, January 6, 2005 - IPSCO Inc. (NYSE/TSX: IPS) today announced it is donating $100,000 to the Red Cross South Asia Earthquake and Tsunami Relief Fund. This afternoon, the Company pledged $50,000 during a Regina radio station media blitz to help the Canadian Red Cross raise money for survivors of the tsunami. The other $50,000 will be provided to the American Red Cross and its efforts for their relief work.

"IPSCO is a compassionate company that wants to do something to assist those devastated by the earthquake and tsunami that has hit many parts of Asia and east Africa," said David Sutherland, IPSCO’s President and Chief Executive Officer.

Sutherland added that the Company is in the process of establishing an Employee Donations Fund to facilitate the collection of personal donations from its employees across North America. In addition to the funds announced today, the Company will also match every dollar contributed by its employees.

IPSCO is an electric furnace flat rolled steel producer and a leader in the development of high strength steel and pipe. Headquartered in Lisle, Illinois, it operates facilities in the U.S. and Canada with the capacity to make 3,500,000 tons of steel annually. 

Company Contact:
Kelly Brossart, Communications Officer
Tel. 306-924-7475
Release 05-01
  
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