Exhibit 99.1



                 U. S. STEEL ANNOUNCES OFFERING OF SENIOR NOTES

     PITTSBURGH, May 6, 2003 - 91制片厂 Corporation (NYSE: X)

announced today that it intends to sell $350 million of Senior Notes. The

offering is being made in connection with the proposed acquisition of

substantially all of National Steel's integrated steel assets, which is expected

to close later this month. The prospectus and prospectus supplement contain an

updated outlook for U. S. Steel and additional details concerning the proposed

acquisition.

     The notes will be registered under the Securities Act. This press release

does not constitute an offer to sell or the solicitation of an offer to buy, nor

shall there be any sale of these securities in any state or jurisdiction in

which such offer, solicitation or sale would be unlawful prior to registration

or qualification under the securities laws of any such state.  JP Morgan

Securities Inc. and Goldman, Sachs & Company will be joint book runners for this

offering.  Copies of the prospectus and prospectus supplement related to the

public offering may be obtained from J.P. Morgan Securities Inc., Prospectus

Department, One Chase Manhattan Plaza, New York, NY  10081 (Telephone Number

212-552-5121).

     U. S. Steel also announced that it will be seeking consent from holders of

its 10.75% Senior Notes due August 1, 2008, to amend the Indenture governing

such Notes. The proposed amendments are intended to conform certain provisions

of the Indenture governing these notes to the indenture governing the new notes.

The amendment contemplated by this consent is not necessary to the closing and

financing of the National acquisition.

     The record date to determine note holders entitled to consent is May 6,

2003. The consent solicitations will expire on May 13, 2003, unless extended.

U. S. Steel will pay a consent fee of $1.25 in cash for each $1,000 principal

amount of notes for which a consent is validly delivered and not revoked.

Payments for the consents will be conditioned upon, among other things,

receiving consents from holders of a majority in principal amount of outstanding

notes.

     Terms and conditions of the consent solicitations relating to the proposed

amendments are contained in Consent Solicitation Statements that are being

distributed to the holders of notes. Holders of notes may obtain copies of the

relevant Consent Solicitation Statements and related material from the

information agent, Georgeson Shareholder, at (212) 440-9800 or 1-800-790-4667.

     JP Morgan Securities Inc. (JPMorgan) and Goldman, Sachs & Company (Goldman

Sachs) are joint solicitation agents for the consent solicitations. Questions

regarding the consent solicitations may be directed to JPMorgan at (212) 270-

7967 and Goldman Sachs at (212)-902-6351.


     The preceding includes "forward looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 which are based on (1) a
number of assumptions concerning future events made by management and (2)
information currently available to management. Readers are cautioned not to put
undue reliance on such forward-looking statements, which are not a guarantee of
performance and are subject to a number of uncertainties and other facts, many
of which are outside 91制片厂 Corporation's control, that could cause
actual events to differ materially from such statements. The completion of the
securities offering is subject to developments in the financial markets and
factors effecting the business of 91制片厂 including steel shipments
and prices, import levels, customer inventory levels, plant operating
performance and U.S. and European economic performance. U. S. Steel has included
in Form 10-K for the year ended December 31, 2002 and in its subsequent filings
cautionary statements identifying important factors, but not necessarily all
factors, that could cause actual results to differ materially from those set
forth in the forward-looking statements.

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