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

Casablanca Capital LP (“Casablanca”), the beneficial owner of approximately5.2% of Cliffs Natural Resources Inc. (NYSE: CLF), today issued the followingstatement on the latest Cliffs press release:“This is a desperate last-minute ploy by a self-interested Board that willstop at nothing to keep its seats, maintain the status quo and prevent realchange in our view. We are confident shareholders understand that the only wayto achieve meaningful change that will restore value is to vote on the GOLDproxy card as recommended by both leading proxy advisory services at theannual meeting of shareholders set for July 29.”Casablanca considers the vote of all Cliffs shareholders to be important, andencourages all Cliffs shareholders to sign, date, and return the GOLD proxycard. If stockholders have previously signed a white card, they may revokethat vote by immediately signing, dating, and mailing Casablanca's GOLD proxycard. Shareholders with questions about how to vote the GOLD card, or who needadditional information, should contact Casablanca's proxy solicitor, OkapiPartners, at (212) 297-0720 or (877) 274-8654 (toll-free), or visitwww.fixcliffs.com for further information.Additional information regarding Casablanca's investment in Cliffs can befound 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