IPSCO Place is an exciting new cultural and commercial hub in Regina, Saskatchewan. Anchored by the renovated 7,000-seat Brandt Centre, the facility provides an important, large-scale venue for international exhibits and trade shows as well as local sporting, agricultural and other events.

Our environmental performance has also been aided by a core mini-mill manufacturing process that relies primarily on scrap for its raw steel-making material. In 2006, the Company recycled 4.2 million tons of steel scrap, thereby eliminating the need for mining a similar quantity of iron ore and smelting it in a far more energy intensive process. Since 2003, we've been taking a similar approach to the successful utilization of scrap tires as a carbon substitute in the manufacture of steel. This program has resulted in the consumption of more than 22,000 tons of scrap tires.

SUPPORTING OUR COMMUNITIES
IPSCO believes that taking care of the communities in which we operate is an integral part of good corporate citizenship. It's also good business sense. That's why we have consistently directed 1.5% of after-tax profits toward philanthropic endeavors and participate each year in numerous charitable and community initiatives. We also encourage our employees to volunteer their time and resources in the communities that host our facilities throughout the United States and Canada.

In June 2006, IPSCO announced a multi-million dollar community partnership agreement that will see IPSCO contribute $2.5 million to assist in the renewal and revitalization plan for Regina Exhibition Park, now called IPSCO Place. Located in the heart of Regina, Saskatchewan, IPSCO Place will welcome more than 1 million visitors each year, with an annual economic impact of about $66 million.

This contribution will help fund a long-range plan for renewal of the Brandt Centre and the development of a new 400,000 square foot Agri-Trade and Event Complex. This state-of-the-art facility will host a wide range of economic and cultural activities including trade shows, agricultural events and indoor winter sports.

At the Mobile Steelworks, IPSCO continues to fund charitable activities through the IPSCO Foundation for Education, established in 2004. IPSCO directs $100,000 annually to the Foundation from savings generated by the use of scrap tires in the manufacturing process. The Foundation uses the funds to support projects at nearby schools in Mobile County. To date, the program has directed more than $300,000 to the local community.

The Foundation provides further support through the annual Fill the Bus campaign, which has generated more than $33,000 in school supplies. With the support of local media, residents and businesses, such efforts continue to build momentum.