Cleveland-Cliffs Inc (NYSE: CLF) announced that the following
individuals were elected as directors of the Company at its Annual
Meeting of Shareholders held on May 13, 2008. Nine of the Company’s
10 directors are considered independent directors.
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Ronald C. Cambre, Former Chairman and Chief Executive Officer of
Newmont Mining Corporation.
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Joseph A. Carrabba, Chairman, President and Chief Executive Officer of
the Company.
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Susan M. Cunningham, Senior Vice President of Exploration and
Corporate Reserves of Noble Energy Inc.
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Barry J. Eldridge, Former Managing Director and Chief Executive
Officer of Portman Limited, and current Chairman of Vulcan Resources
Ltd and Wedgetail Mining Limited.
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Susan M. Green, Deputy General Counsel, U.S. Congressional Office of
Compliance.
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James D. Ireland III, Managing Director of Capital One Partners, Inc.
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Francis R. McAllister, Chairman and Chief Executive Officer of
Stillwater Mining Company.
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Roger Phillips, Former President and Chief Executive Officer of IPSCO
Inc.
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Richard K. Riederer, Former Chief Executive Officer and President of
Weirton Steel Corporation and current Chief Executive Officer of RKR
Asset Management.
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Alan Schwartz, Professor of Law at Yale Law School and Professor at
the Yale School of Management.
Shareholders also voted to approve the ratification of the appointment
of Deloitte & Touche LLP as the Company’s
independent registered public accounting firm.
Institutional Shareholder Services (ISS), an independent organization
that rates corporate governance, recently evaluated and ranked Cliffs’
corporate governance practices. According to ISS, Cleveland-Cliffs’
corporate governance quotient as of May 1, 2008, was better than 98.1
percent of S&P 400 companies and 99.3 percent of Materials companies.
Cliffs’ corporate governance guidelines, as
well as news releases and other information on the Company, are
available on the Internet at: http://www.cleveland-cliffs.com.
To be added to Cleveland-Cliffs’ e-mail
distribution list, please click on the link below:
http://www.cpg-llc.com/clearsite/clf/emailoptin.html
Cleveland-Cliffs Inc, headquartered in Cleveland, Ohio, is an
international mining company, the largest producer of iron ore pellets
in North America and a major supplier of metallurgical coal to the
global steelmaking industry. The Company operates six iron ore mines in
Michigan, Minnesota and Eastern Canada, and three coking coal mines in
West Virginia and Alabama. Cliffs also owns 80% of Portman Limited, a
large iron ore mining company in Australia, serving the Asian iron ore
markets with direct-shipping fines and lump ore. In addition, the
Company has a 30% interest in the Amapá
Project, a Brazilian iron ore project, and a 45% economic interest in
the Sonoma Project, an Australian coking and thermal coal project.
Note to Editors: There should be an accent mark over the last "a" in the
word "Amapá" above.
Cleveland-Cliffs Inc
Steve Baisden, 216-694-5280
Director,
Investor Relations and Corporate Communications
srbaisden@cleveland-cliffs.com
