IPSCO, NS Group announce waiting-period expiration

October 18, 2006

IPSCO Inc. and NS Group Inc. have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed merger of NS Group with a wholly-owned subsidiary of IPSCO Inc.

The expiration of the Hart-Scott-Rodino waiting period satisfies one of the conditions to IPSCO's acquisition of NS Group. Consummation of the merger, which is expected to occur in the fourth quarter of 2006, remains subject to other customary closing conditions, including approval of the merger by NS Group's shareholders.

IPSCO operates steel mills at three locations and pipe mills at six locations in the U.S. and Canada. NS Group produces tubular products serving the energy industry and certain industrial markets.

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