IPSCO Announces The Appointment Of Patricia Kampling As Treasurer

Lisle, Illinois, September 29, 2004 - IPSCO Inc. (NYSE/TSX: IPS) is pleased to announce the appointment of Patricia Kampling as Treasurer, effective immediately.

Ms. Kampling brings 20 years of financial and management experience to IPSCO. She has an extensive background in treasury, financial planning and analysis, investor relations, acquisitions, integration, strategic planning and SEC reporting. From 2000 to 2002 Ms. Kampling served as Senior Vice President and Chief Financial Officer of Exelon Enterprises, a business unit of Exelon Corporation, one of the nation’s largest electric utilities and generation companies. Prior to Exelon’s formation through the merger of Unicom and PECo Energy, she was Treasurer of Unicom Corporation and ComEd. During her 21-year career with Exelon, she received numerous promotions in the finance, treasury and engineering functions.

Ms. Kampling earned her MBA in Finance from the University of Chicago and her B.S. in Engineering and B.A. in Economics from Swarthmore College in Pennsylvania. 

IPSCO’s Senior Vice President and Chief Financial Officer, Vicki Avril, is pleased to welcome Ms. Kampling to IPSCO. “Ms. Kampling’s 20 years of broad financial experience in finance and treasury, combined with a mechanical engineering background, makes her a strong addition to the IPSCO financial and management team,“ stated Avril.

Ms. Kampling will be based at IPSCO’s operational headquarters in Lisle, Illinois and will report directly to Ms. Avril. 

IPSCO is a leading edge electric furnace flat rolled steel producer with steelworks in Regina, Saskatchewan; Montpelier, Iowa; and Mobile County, Alabama having a combined annual design capacity of 3,500,000 tons. IPSCO operates modern coil processing facilities in Regina, Saskatchewan; Surrey, British Columbia; St. Paul, Minnesota; Toronto, Ontario; and Houston Texas.

In addition, as a leader in the development of high strength steel and pipe, IPSCO operates pipe mills at six locations in Canada and the United States producing a wide range of tubular products including oil and gas well casing and tubing, line pipe, standard pipe and hollow structural sections.

IPSCO trades as IPS on both the Toronto and New York Stock Exchanges.

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, but not limited to, weather conditions affecting the oil patch; drilling rig availability; demand for oil and gas; supply, demand and price for scrap metal and other raw materials; supply, demand and price for electricity and natural gas; demand and prices for products produced by IPSCO; general economic conditions and changes in financial markets. These and other factors are outlined in IPSCO’s regulatory filings with the Canadian securities regulators and the Securities and Exchange Commission, including those in IPSCO’s Annual Report for 2003, its MD&A, particularly as discussed under the heading “Business Risks and Uncertainties,” its Annual Information Form, and its Form 40-F.

Company Contact:
Vicki Avril
Senior Vice President and Chief Financial Officer
Tel. 630-810-4769
Release 04-35
  
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