8-K

 
                       SECURITIES AND EXCHANGE COMMISSION

                            Washington, D.C.  20549



                                  FORM  8 - K


                                 CURRENT REPORT



     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934



        Date of Report (Date of earliest event reported): July 29, 1998



                          NATIONAL  STEEL  CORPORATION
                                        
             (Exact name of registrant as specified in its charter)



                                    Delaware
                 (State or other jurisdiction of incorporation)



               1-983                                     25-0687210
      (Commission File Number)                 (IRS Employer Identification No.)



4100 Edison Lakes Parkway,  Mishawaka, IN                46545-3440
(Address of principal executive offices)                 (Zip Code)



Registrant's telephone number, including area code:     219-273-7000


                                                                    Exhibit 99.1
 
ITEM 5.  OTHER EVENTS


National Steel Corporation issued a press release on July 29, 1998 announcing
that its Board of Directors has elected a new Chairman and Chief Executive
Officer and has appointed a Senior Vice President and Chief Financial Officer.
A copy of this press release is attached hereto as Exhibit 99.1.



ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS



Exhibit 99.1   Press release dated July 29, 1998.






                                   SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                 NATIONAL STEEL CORPORATION

Date: July 31, 1998              By:  /s/John A. Maczuzak
                                      -------------------
                                      John A. Maczuzak
                                      President and Chief Operating Officer

EX-99.1

 
                                                                    Exhibit 99.1

News Release

           Media Contact:    Leon L. Judd
                             (219) 273-7631

Analyst/Investor Contact:    Joseph A. Rainis
                             (219) 273-7158



                       NATIONAL STEEL ANNOUNCES NEW CHIEF
                 EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

Mishawaka, IN, July 29, 1998 - National Steel Corporation (NYSE:NS) announced
today that its Board of Directors has elected Yutaka Tanaka to the post of
Chairman and Chief Executive Officer, effective September 1, 1998, succeeding
Mr. Osamu Sawaragi who will retire at the end of August.  Mr. Sawaragi will work
with Mr. Tanaka during the month of August to provide for a smooth and orderly
transition.  Mr. Sawaragi will step down as Chief Executive Officer September 1
and will remain a director on National's Board.

Mr. Sawaragi said, "I am confident in the leadership of Yutaka Tanaka and know
he will continue the effort of making National Steel a profitable and
competitive world class steel company."

Mr. Sawaragi, age 69, has been Chairman and Chief Executive Officer of National
Steel since August 14, 1996.  He was elected Chairman effective January 1, 1994.

Mr. Tanaka has been Vice Chairman of the Board at National Steel since April 1,
1998.  He joined National Steel following a 38-year career at NKK Corporation,
Japan's second largest steel company.

The Board of Directors also appointed Glenn H. Gage to the position of Senior
Vice President and Chief Financial Officer.  Mr. Gage was formerly Senior Vice
President and Chief Financial Officer of Uarco Incorporated, where he was also a
member of Uarco's Board of Directors and Senior Executive Committee.  Prior to
joining Uarco, Mr. Gage was a partner with Ernst & Young LLP.

Mr. Sawaragi said, "Mr. Gage is a talented financial professional with broad
based experience.  We look forward to him joining our executive management
team."

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-Q for the quarter ended March 31, 1998.

Headquartered in Mishawaka, Indiana, National is the nation's fourth largest
integrated steel company, with annual shipments of six million tons of flat
rolled products.  National employs approximately 9,400 people.  Visit National
Steel's website at: www.nationalsteel.com.