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Mesabi Trust Not Aware of Developments Explaining Market Activity

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Mesabi Trust (NYSE: MSB) announced that as a result of unusual market activity in the Trust's units of beneficial interest today, the NYSE contacted the Trust in accordance with its usual practice and requested that the Trust issue a public statement indicating whether there are any corporate developments or rumors that might explain the unusual activity.

The Trust stated that it is not aware of any corporate developments or rumors that might explain the unusual market activity, and it is the Trust's policy not to comment on unusual market activity or rumors.

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