INLAND STEEL INDUSTRIES INC /DE/
DEFA14A, 1997-04-21
STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)
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                           SCHEDULE 14A INFORMATION

          Proxy Statement Pursuant to Section 14(a) of the Securities
                    Exchange Act of 1934 (Amendment No.  )
        
Filed by the Registrant [X]

Filed by a Party other than the Registrant [_] 

Check the appropriate box:

[_]  Preliminary Proxy Statement         [_]  CONFIDENTIAL, FOR USE OF THE
                                              COMMISSION ONLY (AS PERMITTED BY
                                              RULE 14A-6(E)(2))

[_]  Definitive Proxy Statement 

[X]  Definitive Additional Materials 

[_]  Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12

                         INLAND STEEL INDUSTRIES INC. 
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               (Name of Registrant as Specified In Its Charter)

                                                      
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   (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

   
Payment of Filing Fee (Check the appropriate box):

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[_]  Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.

   
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         pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
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Notes:
<PAGE>
 
Copies of slides used in presentations to certain stockholders and analysts, 
which may be considered soliciting material.


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                            Our Board of Directors
                         unanimously recommends a vote
                                   "AGAINST"
                             the Greenway Proposal

 .  Current structure provides financial flexibility

 .  Significant tax savings

 .  Overall valuation could suffer

 .  Operating performance drives long-term
   stockholder value

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  A Spin-off is NOT in IAD's 
  stockholders' best
  interests AT THIS TIME!  



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