Exhibit 99.1

                        [Letterhead of National Steel]



NEWS RELEASE
------------

Media Contact:      Ronald B. Freeman
                    (219) 273-7559

Analyst and         William E. McDonough
Investor Contact:   (219) 273-7414


                    NATIONAL STEEL ANNOUNCES NEW AGGRESSIVE
                           COST REDUCTION ACTIVITIES


Mishawaka, IN, February 13, 2001 - National Steel Corporation (NYSE: NS) today
announced an additional and more aggressive set of cost reduction activities to
improve operating performance.

Key to today's announcement are initiatives in the area of work force
utilization and redeployment.  Work force reduction targets of 400 employees and
a 10% reduction of the salaried work force are currently in progress.  At the
end of January, National Steel had more than 370 employees on layoff status.  In
addition, overtime utilization has been drastically reduced by over 70% versus
year 2000 levels.  These new work force reduction initiatives are targeted to
achieve an annualized cost reduction of approximately $45 to $50 million.

Other aspects of the cost reduction program include: purchasing initiatives to
reduce the cost of purchased goods and services by approximately 10%;
operational improvements including the rationalization of certain high-cost
operating facilities such as the No. 6 Galvanizing Line at the Granite City
Division which was shut down in January; and working with the outside steel
processors to reduce supply chain costs.  The cumulative cost reduction from
these items is targeted at approximately $50 million.

All statements contained in this release, other than historical information, are
forward-looking statements.  A variety of factors could cause business
conditions and the Company's actual results and experience to differ materially
from those expected by the Company or expressed in the Company's forward-looking
statements.  Additional information concerning these factors is available in the
Company's most recent Form 10-K  (as amended) for the year ended December 31,
1999.

Headquartered in Mishawaka, Indiana, National Steel Corporation is one of the
nation's largest producers of carbon flat-rolled steel products, with annual
shipments of approximately six million tons.  National Steel employs
approximately 9,200 employees.  Visit National Steel's website at:
www.nationalsteel.com.