Press Release

Overhang elimination through the purchase of POSCO shares

2003.07.22
* l Shareholding structureAs of July 21, 2003, POSCO owns 6.83% of SKT shares and SK Corp. owns 2.73% of POSCO shares.?????On July 22, 2003, our Board of Directors has authorized the Company to purchase 2.73% of POSCO shares held by SK Corp. and POSCO's B