Casablanca Issues Comment on Cliffs Natural Resources' 'Desperate Ploy to Maintain Status Quo'

Casablanca Capital LP (“Casablanca”), the beneficial owner of approximately 5.2% of Cliffs Natural Resources Inc.

, today issued the following statement on the latest Cliffs press release: “This is a desperate last-minute ploy by a self-interested Board that will stop at nothing to keep its seats, maintain the status quo and prevent real change in our view. We are confident shareholders understand that the only way to achieve meaningful change that will restore value is to vote on the GOLD proxy card as recommended by both leading proxy advisory services at the annual meeting of shareholders set for July 29.” Casablanca considers the vote of all Cliffs shareholders to be important, and encourages all Cliffs shareholders to sign, date, and return the GOLD proxy card. If stockholders have previously signed a white card, they may revoke that vote by immediately signing, dating, and mailing Casablanca's GOLD proxy card. Shareholders with questions about how to vote the GOLD card, or who need additional information, should contact Casablanca's proxy solicitor, Okapi Partners, at (212) 297-0720 or (877) 274-8654 (toll-free), or visit www.fixcliffs.com for further information. Additional information regarding Casablanca's investment in Cliffs can be found at www.fixcliffs.com. Okapi Partners 437 Madison Avenue, 28th Floor New York, N.Y. 10022 (212) 297-0720 Stockholders Call Toll-Free at: (877) 274-8654 E-mail: info@okapipartners.com