IPSCO Lists on NYSE.

REGINA, SASKATCHEWAN--(BUSINESS WIRE)--Jan. 15, 1997--IPSCO Inc. (Alberta Stock Exchange, TSE ISP., NYSE IPS.) On 15 January 1997, IPSCO Inc. will be formally welcomed to the New York Stock Exchange (NYSE). President and Chief Executive Officer Roger Phillips will be present on the exchange floor for the ceremony marking the first trade of the day of IPSCO stock on the NYSE. The NYSE is the largest and most prestigious capital market in North America. To be listed, companies must meet the Exchange's stringent size and profitability requirements. IPSCO Inc. is the first steel company in Canada to meet the financial criteria to qualify for a listing. The listing is testament to IPSCO's having become a North American company with major steel producing capability in both Canada and the United States. Roger Phillips stated that "A listing on the NYSE will increase our visibility and shareholder base in the US, reflecting the fact that seventy percent of our operating assets are located in the United States."

The listing will enhance IPSCO's visibility to US investors.

The shares will trade under the symbol "IPS". IPSCO has approximately 27 million common shares outstanding which are currently listed on the Toronto and Alberta exchanges.

PHOTOS/VIDEO AVAILABLE:

Video footage of IPSCO officials at the NYSE (B-roll/interview) will be fed from 2:30-2:45 PM (ET) and can be accessed through Galaxy C-4, Transponder 10; NR Loop No. 102362 and Waterfront No. 1630. Photos will be provided to Associated Press, New York City. Additional photos can be obtained by request.

CONTACT: IPSCO Inc.

Alana Taylor, 306/ 924-7475