Exhibit 99.1

                                              [National Steel Logo Appears Here]

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                                              National Steel Corporation
                                              4100 Edison Lakes Parkway
                                              Mishawaka, IN  46545-3440

News Release



Media Contact:             Tamara J. Freeman
                           574-273-7559

Analyst/Investor Contact:  William E. McDonough
                           574-273-7414



                NATIONAL STEEL CORPORATION ANNOUNCES APPOINTMENT
            OF NEW CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER

     Mishawaka IN, September 20, 2002 - National Steel Corporation today
announced that Mineo Shimura has been elected Chairman of the Board and Chief
Executive Officer to replace Hisashi Tanaka who announced his resignation
effective September 26, 2002. Mr. Tanaka is returning to Japan to become an
executive officer of NKK.

     Mr. Tanaka commented, "I joined National Steel Corporation during a very
difficult time in the US steel industry. I am thankful for the strong support of
our customers and suppliers during this time, particularly after we filed for
Chapter 11 protection, and very much appreciate the dedication and efforts of
the employees of National Steel. I am confident that the company is proceeding
toward a successful resolution of its Chapter 11 proceeding."

     Mr. Shimura will assume his new responsibilities on September 27, 2002. He
has served as a member of the Board of Directors of National Steel since April
of 1997. Upon his new assignment, he will devote his full time and energy to
National Steel and consequently will resign from his position as president of
various NKK affiliates. Mr. Shimura has over 28 years of experience in
international business and finance.

     Mr. Shimura is a graduate of Waseda University in Tokyo. He also attended
the Sloan School of Management where, as a Sloan Fellow, he earned a Master of
Science in Management (MBA) degree from the Massachusetts Institute of
Technology.

     With regard to his new appointment, Mr. Shimura stated, "While I have been
working with National Steel Corporation as a member of the Board of Directors
for a long time, I'm looking forward to getting involved in the business on an
operational level. I know I speak for the entire National Steel board of
directors in recognizing the strong leadership of Mr. Tanaka in



                                                                    Exhibit 99.1

a very difficult time in the U.S. steel industry and in our reorganization
process. I will continue to promote the process, so that National Steel can
successfully resolve its Chapter 11 proceeding as soon as possible. In addition,
we will continue Mr. Tanaka's leadership by staying focused on reducing costs,
improving quality and ensuring that our customers are serviced well."

     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 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 for the year ended December 31, 2001. The
Company undertakes no responsibility, other than as required under applicable
law, to provide future status reports regarding its financial results or its
reorganization.

     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 8,200 employees. Please visit the Company's web site at
www.nationalsteel.com for more information on the Company and its products and
facilities.