Dr. Leslie L. Kanuk retired from the Board of Directors at the Annual Meeting of Shareholders in May 2002. Dr. Kanuk provided 11 years of constructive service on the Board, and she is missed.

Roger Phillips and Richard K. Riederer were elected as Directors of the Company in June 2002. Mr. Phillips was formerly president and chief executive officer of IPSCO Inc., a mini-mill steelmaker. Mr. Riederer was formerly president and chief executive officer of Weirton Steel Corporation, an integrated steelmaker. Their broad industry knowledge and records of accomplishment and change creation are strong assets as Cliffs remakes its business and focuses on growth.

Edward C. Dowling, Jr., formerly Senior Vice President-Operations, was named Executive Vice President-Operations.

Randy L. Kummer, formerly Vice President-Human Resources, was named Senior Vice President-Human Resources.

John E. Lenhard, formerly Secretary and Corporate Counsel, was named Vice President, Secretary and General Counsel.