Exhibit 99(a)


Cleveland-Cliffs Inc Announces Pricing of Private Offering of Convertible
Preferred Stock

Cleveland-Cliffs, Inc (NYSE: CLF), the largest producer of high-quality iron
ore pellets in North America, announced the pricing of its private offering of
$150 million of redeemable cumulative convertible perpetual preferred stock.
The sale of the preferred stock is expected to close on January 21, 2004. The
Company also granted the initial purchaser of the preferred stock a 30-day
option to purchase up to an additional $22.5 million of shares of the preferred
stock.

The preferred stock will pay cash dividends at a rate of 3.25% per annum. The
shares of preferred stock are convertible into the Company's common shares at a
conversion rate of 16.1290 common shares per share of preferred stock, which is
equivalent to an initial conversion price of $62.00 per common share, subject to
adjustment of certain circumstances. On January 14, 2004, the reported closing
price per common share on the NYSE was $50.55. The Company may also exchange the
preferred stock for convertible subordinated debentures in certain
circumstances.

The Company intends to use the net proceeds of this offering to repay its
existing senior notes, to make contributions to certain underfunded pension
plans, and for general corporate purposes.

The shares have not been registered under the Securities Act and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements of the Securities Act.

The statements above regarding the Company's intent with respect to the private
offering and use of proceeds are forward-looking statements. Actual results may
differ materially from those reflected in these forward-looking statements for
a number of reasons, including general economic and political conditions and
changes in the financial markets.

Cleveland-Cliffs Inc, headquartered in Cleveland, Ohio, is the largest producer
of high-quality iron ore pellets in North America and sells the majority of its
pellets to integrated steel companies in the United States and Canada. The
Company operates six iron ore mines locate in Michigan, Minnesota and Eastern
Canada.


SOURCE Cleveland-Cliffs, Inc