Oct. 18, 2006 — Ipsco Inc. and NS Group, Inc. have reached the end of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, regarding the proposed merger of NS Group with a wholly-owned subsidiary of Ipsco Inc.

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 United States and Canada. Ipsco, a low-cost North American steel producer, has a combined annual steelmaking capacity of 3,500,000 tons. The company's tubular facilities produce a wide range of tubular products including oil and gas well casing and tubing, line pipe, standard pipe and hollow structurals. Steel can also be further processed at Ipsco's five temper leveling or coil processing facilities.

NS Group is a leading producer of tubular products serving the energy industry and certain industrial markets. NS Group manufactures and markets seamless and welded tubular steel products used in the drilling, exploration and transmission of oil and natural gas and operates a steel manufacturing facility that produces billets as feedstock for its seamless products. NS Group also manufactures premium connections for oil and gas drilling and production under its Ultra product brand name.