SCHEDULE 14A INFORMATION

          Proxy Statement Pursuant to Section 14(a) of the Securities
                    Exchange Act of 1934 (Amendment No.  )
        
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[_]  Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12

                         INLAND STEEL INDUSTRIES INC. 
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               (Name of Registrant as Specified In Its Charter)

                                                      
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   (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

   
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Notes:

 
Copies of slides used in presentations to certain stockholders and analysts, 
which may be considered soliciting material.


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                            Our Board of Directors
                         unanimously recommends a vote
                                   "AGAINST"
                             the Greenway Proposal

 .  Current structure provides financial flexibility

 .  Significant tax savings

 .  Overall valuation could suffer

 .  Operating performance drives long-term
   stockholder value

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  A Spin-off is NOT in IAD's 
  stockholders' best
  interests AT THIS TIME!