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NATIONAL STEEL CLOSES INITIAL PUBLIC OFFERING

 MISHAWAKA, Ind., March 30 /PRNewswire/ -- National Steel Corporation (NYSE: NS) today announced that it has closed its initial public offering of Class B common stock.
 The company said that it realized net proceeds of approximately $130 million from the offering.
 National's Class B common stock is trading on the New York Stock Exchange under the symbol "NS."
 Kokichi Hagiwara, chairman and chief executive officer of National Steel, said that, "The offering represents a new beginning for National Steel. It strengthens our balance sheet and will help us continue our strategies of investing in core facilities, reducing costs and focusing on high-margin products."
 National Steel is the fourth-largest U.S. integrated steel producer, with production facilities in Ecorse, Mich., near Detroit; Granite City, Ill., near St. Louis; and Portage, Ind., near Chicago. The company is headquartered in Mishawaka, and employs about 10,300 people.
 -0- 3/30/93
 /CONTACT: Robert R. Toothman of National Steel, 219-273-7552/
 (NS)


CO: National Steel Corporation ST: Indiana IN: MNG SU: OFR

CD-KC -- PG001 -- 1155 03/30/93 14:59 EST
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Publication:PR Newswire
Date:Mar 30, 1993
Words:175
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