First Plate Successfully Rolled At IPSCO's Alabama Steel Mill

Lisle, Illinois, 27 March 2001, IPSCO Inc. (NYSE/TSE:IPS) announced today that its subsidiary IPSCO Steel (Alabama) Inc. had successfully rolled the first plate at the Steckel rolling mill at its new 1,250,000 tons per annum Mobile County steelworks. Commissioning of the rolling mill will continue on a variety of grades and sizes.

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, and mechanical and equipment difficulties. 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 01-14

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