IPSCO To Inject $100,000 Into Education System

Mobile, Alabama, August 20, 2004 - IPSCO Inc. (NYSE/TSX:IPS) announced today that more than $100,000 will be infused into the education system in north Mobile County in the next year. The money is a direct result of savings generated by the Company by substituting scrap tires for carbon in the steel manufacturing process. IPSCO has decided to use a significant portion of the money it is saving at its Alabama Steelworks from this new and improved steelmaking process to underwrite education projects throughout Mobile County, particularly at its local partner schools. The funds will be distributed by the newly formed IPSCO Foundation for Education, a registered charity whose primary purpose will be to provide financial support to local schools.

It is expected in the first year of the program, the IPSCO Foundation for Education will contribute more than $100,000 in supportive education funding. The project is also expected to carry on into future years at similar funding levels, but this will be dependent on cost savings continuing to be realized from the use of scrap tires in our steel manufacturing process.

The money for this program is a direct result of the cost savings achieved by IPSCO using old unwanted tires in place of carbon in its steelmaking process. According to IPSCO Steel (Alabama) Inc. President Paul Wilson, IPSCO is not only reducing an environmental burden and health hazard in the Mobile area, it is using the proceeds to benefit many local schools in north Mobile County. "IPSCO has successfully developed a formula to use primary shredded scrap tires as a raw material supplement in place of carbon," said Wilson at a news conference to announce the education initiative.

"Alabama, like most states, has an abundance of stockpiled scrap tires that are a fire hazard, unsightly and provide a breeding ground for pests such as mosquitoes, which contributes to the spread of the West Nile virus. By using scrap tires in steel production, IPSCO is able to reduce the hazard from tire piles, reduce the consumption of a raw material (carbon), and also reduce its cost of production, freeing up money for charitable giving. It is a win win situation for all," explained Wilson. "A large number of people deserve credit and thanks for making this scrap tire project a success, including the mayors of several local communities which first supported the project, the Mobile County professional engineering staff, the Alabama Departments of Environmental Management and Public Health, and a number of committed IPSCO staff who believed in this idea when it was first presented as a possibility."

IPSCO also recently completed a school supply drive in north Mobile County, which resulted in $15,000 worth of supplies for area schools. The 'Fill the Bus' campaign was held over two weekends at the Saraland Wal-Mart and encouraged the public to get involved in fulfilling wish lists from area schools. Everything from rulers and crayons to notebooks and pencils were collected and distributed to 7 local schools.

We are also excited to announce today that approximately 10% of the Foundation’s funds will be used for educational projects across Mobile County, including the formation of a scholarship program.

Wilson says IPSCO is committed to being an active supporter of education in every community it operates in through the United States and Canada. "We intend to demonstrate our support for schools and education with this campaign and other programs like 'Fill the Bus.' We look forward to working with our partners in education to make a difference and help kids learn!"

IPSCO is a North American steel producer incorporated in 1956. Growing from a small pipemaker in Regina, Saskatchewan, the Company now has facilities in both Canada and the United States and offers a wide range of high strength steel and pipe products.

Company Contact:
Paula Schmitz
IPSCO Foundation for Education
Tel. 251-662-4479
Release 04-27

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