IPSCO Spiral Mills Fully Booked Through First Quarter

Lisle, Illinois, 10 October 2001, IPSCO (NYSE/TSE:IPS) said today that thanks to recently placed orders for large diameter gas transmission pipe its Regina spiral mills were now fully booked until the end of the first quarter of 2002.

"We expect to ship some 90,000 tons of large diameter pipe produced on our spiral mills this quarter and next," said David Britten, Vice President and General Manager, Tubular Products. "The orders involved are mostly for thirty-six inch diameters that are slower running than larger diameters," he added. IPSCO said it expected these orders will mean 125 full time equivalent years of employment at the Regina steelworks and pipe operations.

"With these bookings, and the numerous other large diameter pipe projects at various stages of planning and execution, 2002 is shaping up to be a good year for tubular sales," Britten said. "Starting from the booking position we are in, we are optimistic that these projects will continue to come to fruition for the balance of the year, with IPSCO participating fully in the business."

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 potential markets for the materials produced, planning and execution of third party pipeline projects, and operations at the company's pipemills. 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., particularly as discussed under the heading "Business Risks and Uncertainties", and Form 40-F.

Company Contact:
Anne Parker, Vice President
Tel. 630-810-4790
Release 01-38

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