Sutherland Takes Over as President and Chief Executive Officer

Lisle, Illinois, 2 January 2002

As previously announced, Roger Phillips, IPSCO's President and Chief Executive Officer since 1982, has retired effective January 1, 2002. Succeeding him is David Sutherland, former Executive Vice President and Chief Operating Officer. Sutherland has also become a board member.

Commented Burton Joyce, IPSCO's Chairman of the Board, "Several years ago Roger indicated his desire to retire when he reached 62 years of age. Our board has gone through an extensive succession planning exercise since that time and we are pleased that someone of David's experience and competence will be succeeding him. David inherits a highly skilled senior management team to assist him in facing the ongoing challenges confronting the North American steel industry. Roger has long held the view that CEO's should not remain on their companies' boards after retirement and his wish is being respected. But after twenty years we wish to maintain our connection with him and consequently the board has appointed Roger an honourary director of IPSCO, effective with his retirement."

"IPSCO has dramatically changed over the past 20 years, more than tripling its steel production capacity in North America. It is a direct consequence of Roger's vision and leadership that IPSCO now enjoys its enviable position. In its chosen markets IPSCO is a leader in terms of its low production costs, high product quality, and its reputation for customer service. Through his period as CEO IPSCO also delivered financial returns to shareholders in the top quartile of industry competitors."

David Sutherland, age 52, was born in Moose Jaw, Saskatchewan, and joined IPSCO in 1977. He holds a Bachelor of Commerce degree from the University of Saskatchewan and an M.B.A. from the Katz Graduate School of Business at the University of Pittsburgh. Sutherland initially served in IPSCO's personnel department and then filled increasingly important manufacturing roles in Vancouver, Edmonton, Calgary, and Regina. In 1988 he moved to the United States and was responsible for IPSCO's first American pipe operations, residing in Lincoln, Nebraska, and later Camanche, Iowa. In 1992 he returned to Canada where he filled a number of lead roles prior to being promoted to Vice President and General Manager, Raw Materials and Coil Processing. In April 2000 Sutherland moved to the newly formed operational headquarters of IPSCO in Lisle, Illinois, in greater Chicago, and was appointed Executive Vice President and Chief Operating Officer in April of 2001. His career path has seen him work in all operating areas of IPSCO -- steel, coil processing, and tubulars, in both manufacturing and sales. Sutherland is married with three children and resides in Naperville, Illinois. He will continue to make his office in Lisle.

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