EXHIBIT 1 --------- [GRAPHIC OMITTED] [LOGO - IPSCO] NEWS RELEASE FOR IMMEDIATE RELEASE TENTATIVE AGREEMENT REACHED IN IPSCO LABOUR NEGOTIATIONS [REGINA, SASKATCHEWAN] 4 December 2002 -- IPSCO Inc. (NYSE/TSX: IPS) is pleased to announce that it has...Labour Agreement • December 5th, 2002 • Ipsco Inc • Steel works, blast furnaces & rolling mills (coke ovens)
[REGINA, SASKATCHEWAN] 4 December 2002 -- IPSCO Inc. (NYSE/TSX: IPS) is pleased to announce that it has reached a tentative labour agreement with its workers in Regina and Calgary, represented by the United Steelworkers of America. Both Union locals involved have indicated they will recommend the terms of settlement be accepted by their membership. Ratification voting will be completed no later than Monday, December 9, 2002. Settlement details will not be released until the ratification process has been completed.
