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<SEC-DOCUMENT>0000902561-98-000256.txt : 19980812
<SEC-HEADER>0000902561-98-000256.hdr.sgml : 19980812
ACCESSION NUMBER:		0000902561-98-000256
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	19980806
ITEM INFORMATION:		
FILED AS OF DATE:		19980810
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INLAND STEEL INDUSTRIES INC /DE/
		CENTRAL INDEX KEY:			0000790528
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
		IRS NUMBER:				363425828
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	001-09117
		FILM NUMBER:		98680438

	BUSINESS ADDRESS:	
		STREET 1:		30 W MONROE ST
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60603
		BUSINESS PHONE:		3123460300

	MAIL ADDRESS:	
		STREET 1:		30 WEST MONROE STREET
		STREET 2:		16TH FLOOR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60603
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<TEXT>

                     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): August 6, 1998


                       INLAND STEEL INDUSTRIES, INC.
           (Exact name of registrant as specified in its charter)


          Delaware                      1-9117                  36-3425828
(State or other jurisdiction          (Commission            (I.R.S. Employer
    of incorporation)                  File Number)         Identification No.)


       30 West Monroe Street
          Chicago, Illinois                                    60603
(Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including are code: (312) 346-0300


                               Not Applicable
        (Former name or former address, if changed since last report)


                                       1

<PAGE>


Item 5.           Other Events.

         The Press Release dated August 6, 1998 attached hereto as 
Exhibit 99.1 is incorporated herein by reference in answer to this Item 5.


                                     2

<PAGE>


                                 SIGNATURES

         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 thereunto duly authorized.


Dated: August 7, 1998                        INLAND STEEL INDUSTRIES, INC.


                                             By: /s/   Jay M. Gratz
                                                Jay M. Gratz
                                                Vice President and
                                                Chief Financial Officer


                                        3

<PAGE>


                               EXHIBIT INDEX


Exhibit
Number                     Description
- -------                    -----------

99.1                       Press Release dated August 6, 1998


                                     4

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<DESCRIPTION>PRESS RELEASE
<TEXT>


                                Exhibit 99.1


Inland Steel Industries, Inc.
30 West Monroe St.
Chicago, Illinois 60603

Inland Steel Industries, Inc.                                   News Release
- ----------------------------------------------------------------------------
                        For additional information:         Virginia Dowling
                                                                312-899-3124

For Immediate Release
- ---------------------

           Inland Steel Industries, Inc. reports shareholder suit

         Chicago, IL (August 6, 1998) - Inland Steel Industries, Inc (NYSE:
IAD) has been informed that Greenway Partners, L.P. and related parties
have filed a complaint in the Delaware Chancery Court seeking to enjoin the
Company from consummating its cash tender to purchase up to 25,500,000
shares of its common stock at a purchase price of not greater than $34.00
nor less than $30.00 per share. The offer is scheduled to expire on August 14,
1998, unless extended.

The complaint alleges that given Greenway Partners' current 9.7% stock
ownership, the size of the tender offer and the terms of Inland's
Shareholder Rights Plan coerce Greenway into tendering its shares for
reasons other than the merits of the tender offer. The Company is reviewing
the complaint.

                                         # # #

Inland Steel Industries, Inc. is the holder of stock representing
approximately 87% of the economic interest in Ryerson Tull, Inc. which is,
in turn, the sole stockholder of Joseph T. Ryerson & Son, Inc. ("Ryerson")
and J. M. Tull Metals Company, Inc. ("Tull"). Ryerson and Tull are leading
metal service, distribution and materials processing organizations. Ryerson
Tull, Inc. believes that it is the largest metals service center in the
United States based on sales revenue, with 1997 sales of $2.8 billion and a
current U. S. market share of approximately 10%, based on Ryerson Tull,
Inc.'s analysis of data prepared by the Steel Service Center Institute.
Ryerson Tull, Inc. distributes and processes metals and other materials
throughout the continental United States.

                     
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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