only a matter of time, page-21

liffs Natural Resources Inc. Reports Third-Quarter 2009 Earnings

Company Reports
$666 Million in Revenue and Net Income of $0.45 Per Diluted Share, Notes Significantly Improving Operations and Business Outlook
North American Iron Ore Ships 5.5 Million Tons in Quarter, Increases Full-Year Expected Sales Volume to 17.4 Million Tons
Asia Pacific Iron Ore Ships 2.6 Million Tonnes in Quarter, Expects Record Volume of 8.5 Million Tonnes in 2009
Company Generates Nearly $155 Million in Cash from Operations During Quarter

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Cliffs are sitting on:

$360m in cash
$600m in financing/liquidity facility