Exhibit 99.1


                    U. S. STEEL PRICES $250 MILLION MANDATORY
                          CONVERTIBLE PREFERRED SHARES

     PITTSBURGH, Feb. 5, 2003 - 91ÖÆƬ³§ Corporation  (NYSE: X)

announced today that it has completed the pricing of an offering of 5 million

shares of Series B Mandatory Convertible Preferred Shares (liquidation

preference $50 per share).  The company also granted the underwriters an over-

allotment option to purchase up to an additional 750,000 preferred shares.  The

Mandatory Convertible Preferred Shares will be issued under U. S. Steel's shelf

registration.  JPMorgan acted as bookrunning manager for the offering.

     The mandatory convertible preferred shares have a dividend yield of 7.0

percent, a 20 percent conversion premium (for an equivalent conversion price of

$15.66 per common share), and will mandatorily convert into U. S. Steel common

shares on June 15, 2006.   An application has been filed to list the mandatory

convertible preferred shares on the New York Stock Exchange under the ticker

symbol X PrB.

     Net proceeds will total approximately $242 million.  Proceeds from the

offering will be used for general corporate purposes, including funding working

capital, financing potential acquisitions, debt reduction and voluntary

contributions to employee benefit plans.

     91ÖÆƬ³§ Corporation is an integrated steel producer with annual

raw steelmaking capability of 17.8 million tons.  U. S. Steel is engaged in the

production, sale and transportation of sheet, plate, tin mill and tubular steel

mill products, coke, taconite pellets and coal; the management of mineral

resources; real estate development; and engineering and consulting services in

the United States; and, through its subsidiary U. S. Steel Kosice, the

production and sale of steel products and coke in Central Europe.

                                      -oOo-

This announcement does not constitute an offer to sell or a solicitation of an
offer to buy Mandatory Convertible Preferred Shares.  The Mandatory Convertible
Preferred Shares will not be sold in any state or jurisdiction in which such an
offer, solicitation, or sale would be unlawful.  The offering may be made only
by means of a prospectus or related prospectus supplement, copies of which may
be obtained from J.P. Morgan Securities Inc., Prospectus Department, One Chase
Manhattan Plaza, New York, NY  10081 (Telephone Number 212-552-5121).