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Dec. 29, 2006 — United States Steel Corp. announced that it has successfully completed its cash tender offer and consent solicitation for its 10-3/4% Senior Notes due August 1, 2008.

A total of $328 million in aggregate principal amount, or approximately 94% of the Notes outstanding had been tendered and not withdrawn as of midnight Eastern Time December 27, 2006. On December 28, 2006, the company accepted for purchase and paid for all Notes tendered pursuant to the Offer.

U. S. Steel also announced completion of the consent solicitation relating to the Notes. On December 13, 2006, the company and The Bank of New York executed a third supplemental indenture upon receipt of the requisite consents to the proposed amendments to the indenture governing the notes. The amendments, which eliminate or modify substantially all of the restrictive covenants in the indenture, became operative upon acceptance of the notes for purchase.

The company will record a fourth quarter 2006 pre-tax charge of approximately $32 million for the premium, unamortized issuance and discount costs and transaction fees.

UBS Investment Bank served as Dealer Manager and Solicitation Agent in connection with the Offer. Georgeson Inc. was the Information Agent.

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