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[LOGO - IPSCO] NEWS RELEASE
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FOR IMMEDIATE RELEASE
IPSCO LABOUR AGREEMENT RATIFIED
[REGINA, SASKATCHEWAN] 9 December 2002 -- IPSCO Inc. (NYSE/TSX: IPS) announced
today that local unions representing United Steel Workers of America (USWA)
members at its Regina and Calgary steel and pipe making operations have ratified
a collective agreement expiring on July 31,2006.
The agreement succeeds the existing collective agreement that expired on July
31, 2002 and provides for enhanced pensions as well as wage adjustments and
other improvements in benefits. It provides full time employees with a one-time
ratification bonus in December and also calls for base wage increases in August
2003 and August 2005.
For further information on IPSCO, please visit the company's web site at
XXX.XXXXX.XXX.
Company Contact:
Xxxxx Xxxxxxxx
IPSCO
Tel. (000) 000-0000
Xxxxxxx #00-00
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