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CLEVELAND-CLIFFS ISSUES REMINDER TO HOLDERS OF PORTMAN STOCK.

Asia Africa Intelligence Wire

| March 17, 2005 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Asia Pulse)

(Full text of statement. Contact details below.)

CLEVELAND, March 16 /PRNewswire-AsiaNet/ --

Cleveland-Cliffs Inc (NYSE: CLF) today emphasized the timing surrounding acceptance of its offer for the shares in Portman Limited (Portman).

The offer expires at:

PERTH - Australia

7:00 p.m.

Tuesday, March 22

NEW YORK - United States

6:00 a.m.

Tuesday, March 22

LONDON - United Kingdom

(EST)

11:00 a.m.

Tuesday, March 22

This means that US stockholders who wish to accept the offer should do so before close of business (New York time) on Monday, March 21, 2005. We strongly encourage institutional owners to check with their …

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