8-K/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

CURRENT REPORT

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

Date of Report (Date of earliest event reported): September 12, 2003 (July 21, 2003)

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:  574-273-7000

ITEM 7.FINANCIAL STATEMENTS AND EXHIBITS

Exhibit 99.1Corrected copy of the Combined Monthly Operating Report for the month ended May 31, 2003.

ITEM 9.REGULATION FD DISCLOSURE

This Form 8-K/A is being filed to amend the Statement of Receipts and Disbursements in the Form 8-K which was filed by National Steel Corporation (the “Company”) on July 21, 2003.  In that Form 8-K the Company filed a copy of the required combined monthly operating report for the month ended May 31, 2003 (the “Operating Report”) in a form prescribed by the office of the United States Trustee of the Department of Justice for the Northern District of Illinois, Eastern Division.  The May Statement of Receipts and Disbursements is being revised to reflect the sale to United States Steel Corporation (“US Steel”) at its gross amount of $851.4 million and to reflect the payments of proceeds at their gross amounts.  Net cash activity for the month did not change.  A corrected copy of the Statement of Receipts and Disbursements for the month of May 2003 is attached as Exhibit 99.1 to this Form 8-K/A.

The Company cautions readers not to place undue reliance upon the information contained in the Operating Report.  The information in the Operating Report was not audited, however, in the opinion of the Company’s management, the information reflects all adjustments necessary for a fair presentation of the results for the periods presented in accordance with generally accepted accounting principles.  There can be no assurance that the Operating Report is complete.  The Operating Report also contains information for periods which are shorter or otherwise different from those required in the Company’s reports pursuant to the Exchange Act of 1934, as amended (the “Exchange Act”).  Such information may not be indicative of the Company’s financial statements in its reports pursuant to the Exchange Act and readers are cautioned to refer to the Exchange Act filings.

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:  September 12, 2003	By:	/s/ Kirk A. Sobecki
		Kirk A. Sobecki
		President

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EX-99.1

Exhibit 99.1

IN THE UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION

CASE NAME:NATIONAL STEEL CORPORATION, ET AL.

CASE NO:02-08697 THROUGH 02-08738

DECLARATION UNDER PENALTY OF PERJURY

I, Kirk A. Sobecki, acting as the duly authorized agent for the Debtor in Possession declare under penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief.

		/s/ Kirk A. Sobecki
		For the Debtor In Possession
		Kirk A. Sobecki
		President
DATED:	September 8, 2003

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NATIONAL STEEL CORPORATION AND SUBSIDIARIES

CASE NOS: 02-08697 THROUGH 02-08738
DEBTOR-IN-POSSESSION AS OF MARCH 6, 2002
COMBINED STATEMENT OF RECEIPTS AND DISBURSEMENTS
(In Millions of Dollars)
(Unaudited)

	For the Month of May, 2003
Beginning Cash Balance, May 1, 2003	$	2.4
Receipts
Sale to US Steel	$	851.4
Refunds of operating lease payments from US Steel	4.0
Working capital adjustment	(1.6		)
Operating receipts	105.7
Total Receipts	959.5
Disbursements
DIP Loan	68.8
Net adjustments to DIP Loan due to timing	7.8
Cure payments	22.7
Tax Claims	22.5
Severance and Retention Expenses	5.9
Post-Petition Workers Comp	0.5
Post-Petition Pension Obligation	30.0
Payments to Creditors
Mitsubishi	54.5
Marubeni	23.0
Bondholders	231.8
Operating disbursements	108.1
Total Disbursements	575.6
Net Receipts for the Period	$	383.9
Ending Cash Balance including Restricted Cash, May 31, 2003	$	386.3

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