Exhibit 99.1


                    U. S. STEEL REPORTS ON PENDING ASSET SWAP
                            AND THIRD QUARTER CHARGES

     PITTSBURGH, Oct. 10, 2003 - ÁñÁ«ÊÓƵ (NYSE: X)
reported today that its pending non-monetary exchange of the plate mill at its
Gary (Ind.) Works for the No. 2 pickle line at the Indiana Harbor Works of
International Steel Group Inc. (ISG) will result in a third quarter pre-tax
charge of approximately $45 million to $50 million.
     In addition, as a result of the company's ongoing operating and
administrative workforce reduction programs and the level of voluntary salaried
retirements through September, the company expects to record several third
quarter pre-tax charges for both union and nonunion employee retirement benefits
totaling approximately $620 million.
     The company further noted a number of items that are expected to affect
third quarter operating results, including: 1) estimated pre-tax costs of $20
million associated with the August power outage effects on operations in
Michigan and Ohio, 2) weak Tubular results reflecting oil country tubular goods
market conditions, 3) a pre-tax charge of $5 million to reserve for amounts owed
by a raw materials customer who has filed for bankruptcy protection, and 4) a
pre-tax charge of approximately $5 million related to capitalized costs of an
abandoned software project at Transtar, Inc. a wholly owned subsidiary.
     U. S. Steel Chairman and CEO Thomas J. Usher said, "Despite the challenges
of the third quarter, we have made significant progress integrating the assets
we acquired from National Steel, and we are aggressively reducing our union and
nonunion domestic workforce. As a result, we are on track to achieve our target
of annual repeatable cost savings in excess of $400 million by the end of next
year."
     U. S. Steel expects to report third quarter results on October 28, 2003.

                                      * * *
   This release contains forward-looking statements with regards to the
potential charges related to the exchange of assets of United States Steel
Corporation and International Steel Group Inc. Factors that may affect the
amount of this charge include completion of the review of the preliminary
appraisal of the ISG No. 2 pickle line. This release also contains forward-
looking statements with respect to annual cost savings from National acquisition
synergies, workforce reductions and administrative cost reductions. Factors that
may affect expected synergies from the acquisition of substantially all of the
assets of National Steel include management's ability to successfully integrate
National's operations. Factors that may affect anticipated workforce reductions
include offer acceptance levels. The amounts ultimately measured and recorded
for workforce reductions could vary materially from those estimated depending on
the census and timing of the curtailment or settlement, the assumptions used to
measure the liabilities and various other factors. Factors that may affect
expected administrative cost reductions include management's ability to
implement its cost reduction strategy. In accordance with "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995, 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 have been included in the Form 10-K of United States
Steel Corporation for the year ended December 31, 2002, and in subsequent
filings with the Securities and Exchange Commission.