EXHIBIT 15-B

Board of Directors

National Steel Corporation

          We are aware of the incorporation by reference in the following Registration Statements:

Ÿ Form S-8, No. 33-51991, pertaining to the 1994 and 1995 Stock Grants to Union Employees,

Ÿ Form S-8, No. 33-51081, pertaining to the 1993 National Steel Corporation Long-Term Incentive Plan,

Ÿ Form S-8, No. 33-51083, pertaining to the 1993 National Steel Corporation Non-Employee Director’s Stock Option Plan, and

Ÿ Form S-8, No. 33-51087, pertaining to the National Steel Retirement Savings Plan and National Steel Represented Employee Retirement Savings Plan,

of our report dated May 12, 2000 relating to the unaudited interim consolidated financial statements of National Steel Corporation and subsidiaries that are included in its Form 10-Q for the quarter ended March 31, 2000.

ERNST & YOUNG LLP

Indianapolis, Indiana

May 12, 2000