IPSCO Settles Montpelier Steelworks Lawsuit

Apr 27, 2001, 01:00 ET from IPSCO Inc.

    LISLE, Ill., April 27 /PRNewswire/ -- IPSCO Inc. announced today that its
 subsidiary, IPSCO Steel Inc. had reached agreement in principle to settle all
 claims and counterclaims in the outstanding lawsuit with Mannesmann Dematic
 Corporation and Mannesmann Demag Krauss-Mafei Aktiengesellschaft.  The terms
 of the settlement provide that Mannesmann will pay IPSCO $28 million in cash
 and an additional $21.1 million, retained as a contract holdback and carried
 on IPSCO's books as an account payable, will also be kept by IPSCO.
 
     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.  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 and
 Form 40-F.
 
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SOURCE IPSCO Inc.
    LISLE, Ill., April 27 /PRNewswire/ -- IPSCO Inc. announced today that its
 subsidiary, IPSCO Steel Inc. had reached agreement in principle to settle all
 claims and counterclaims in the outstanding lawsuit with Mannesmann Dematic
 Corporation and Mannesmann Demag Krauss-Mafei Aktiengesellschaft.  The terms
 of the settlement provide that Mannesmann will pay IPSCO $28 million in cash
 and an additional $21.1 million, retained as a contract holdback and carried
 on IPSCO's books as an account payable, will also be kept by IPSCO.
 
     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.  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 and
 Form 40-F.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X35684644
 
 SOURCE  IPSCO Inc.