National Steel Says it Has a New, Better Offer

Chicago, IL – AK Steel Corporation has made a new bid
totaling $1.125 billion for embattled National Steel -- the company that operates Granite City Steel in
southwestern Illinois.

A federal bankruptcy judge has set a hearing for next Thursday on whether Ohio-based AK Steel should be the lead bidder for Indiana-based National Steel's assets.

Pittsburgh-based US Steel Corporation also is interested in a possible buyout.