X0201 32003-07-2900000764065CLEVELAND CLIFFS INC CLF0001257528GALLAGHER DONALD J1100 SUPERIOR AVENUECLEVELANDOH441140100Senior VP & CFO & TreasurerCommon Shares1371DCommon Shares9271IBy VNQDCOptions (right to buy)2003-01-122009-01-12Common Shares10000DRetention UnitsCommon Shares600DRetention UnitsCommon Shares900DRetention UnitsCommon Shares900DHeld for the benefit of the Reporting Person by the Cleveland-Cliffs Inc Voluntary Non-Qualified Deferred Compensation Plan (VNQDC).On 1/12/99, options for 10,000 shares were granted to the reporting person under the Cleveland-Cliffs Inc 1992 Incentive Equity Plan (As amended and Restated as of May 13, 1997, as amended)("Plan"). One-third of such options are priced at $54.140625, one-third are priced at $64.96875, and one-third are priced at $75.796875.Represents a grant of Retention Units to the Reporting Person under the Cleveland-Cliffs Inc Long-Term Incentive Program covering the period January 1, 2001 through December 31, 2003 (Incentive Period). Payment of the Retention Units will be made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on the last day of the Incentive Period.Converted common stock on a 1-for-1 basis.Represents a grant of Retention Units to the Reporting Person under the Cleveland-Cliffs Inc Long-Term Incentive Program covering the period January 1, 2002 through December 31, 2004 (Incentive Period). Payment of the Retention Units will be made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on the last day of the Incentive Period.Represents a grant of Retention Units to the Reporting Person under the Cleveland-Cliffs Inc Long-Term Incentive Program covering the period January 1, 2003 through December 31, 2005 (Incentive Period). Payment of the Retention Units will be made in cash after the completion of the Incentive Period based upon the employment by the Company of the Reporting Person and the market value of a Common Share of the Company on the last day of the Incentive Period./s/ Donald J. Gallagher2003-08-04