Exhibit 99.1

Changes in Affiliates (Addition)

1.  Company to be affiliated

— Company Name: POSCO-POLAND Processing Center Sp.z o.o.

— Total Asset (KRW): 12,746,700,000

— Total Equity (KRW): 12,746,700,000

— Total Liabilities (KRW): —

— Total Capital (KRW): 12,746,700,000

— Purpose of the company : to engage in processing and sales of steel sheet for home appliance

2.  Name of Company Group: POSCO

3.  Reason for Addition: Incorporation of a new corporation

4.  Total number of affiliated companies after additional affiliation: 68

5.  Date of Addition: March 13, 2007

6. Others

— POSCO invested 30% equities of POSCO-POLAND Processing Center Sp.z o.o.

— The above amount is applied with the exchange rate on March 13, 2007 (W/$:944.20). Total capital of POSCO-POLAND Processing Center Sp.z o.o. in terms of USD is U$13,500,000.

— POSCO accredits the Chief Executive Officer to POSCO-POLAND Processing Center Sp.z o.o.