Feb. 21, 2007 — Ipsco announced the passing of Mr. Clifford R. Borland, 69, founder of Newport Steel.

Ipsco acquired NS Group, Inc. and its subsidiaries, which included Newport Steel, on December 1, 2006.

Mr. Borland, who passed away on February 18, 2007, was instrumental in orchestrating an employee purchase of a shuttered steel mill, which had previously been owned by the former Interlake Steel.

Mr. Borland's leadership in the successful rebirth of Newport Steel led to the establishment of an important American steel tubulars business. That company joined with Ipsco just over two months ago to become the largest tubulars producer in Canada and the United States.

Mr. Borland retired as CEO in 1999 but remained on as Chairman of NS Group until 2004.

Ipsco wishes to acknowledge Mr. Borland’s leadership role in the NS Group portion of this history and joins with all its 4400 employees in expressing its condolences to the Borland family.