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LTV TO RECEIVE $375 MILLION SETTLEMENT FROM USX

 CLEVELAND, Nov. 30 /PRNewswire/ -- The LTV Corporation (NYSE: LTV) announced today that it has reached an agreement in principle to accept $375 million as settlement from USX Corporation related to an antitrust judgment against the Bessemer and Lake Erie Railroad Company, a former USX subsidiary. The agreement in principle has been approved by the boards of directors of both companies.
 The $375 million settlement is payable in two installments. The first $200 million will be paid on or before Dec. 29, 1993. The remaining $175 million of the settlement will be paid no later than Feb. 28, 1994. The specific terms of the settlement will be set forth in a settlement agreement currently being finalized. The proceeds of the settlement will be contributed to LTV's pension plans. The contribution will significantly reduce LTV's unfunded pension liability and its annual pension expense. The settlement will be reported as a special credit in LTV's fourth quarter results.
 "We are pleased this prolonged litigation has been concluded with the resulting reduction in LTV's pension liability and improvement in income," said David H. Hoag, chairman and chief executive officer, The LTV Corporation.
 -0- 11/30/93 R
 /CONTACT: Mark Tomasch (media), 216-622-4635, or Eric Evans (analysts), 216-622-5680, both of The LTV Corporation/
 (LTV)


CO: The LTV Corporation; USX Corporation ST: Ohio IN: MNG SU:

AR-KL -- CL018 -- 9019 12/01/93 07:11 EST
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Publication:PR Newswire
Date:Dec 1, 1993
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