IPSCO Inc. Announces Price Increase

23 December 1999

IPSCO Inc. Announces Price Increase

REGINA, Saskatchewan--Dec. 22, 1999--IPSCO Inc.(TSE:IPS.) today announced that its transaction prices for plate products in Canada would be increased by $30 per ton effective immediately with new orders for shipment from 6 February 2000 onwards. This increase follows a U.S. $20 per ton increase for plate products announced last week by IPSCO Steel Inc, IPSCO's U.S. operating subsidiary.
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 those discussed in IPSCO's 1998 Annual Report for its fiscal year ended December 31, 1998.