You are missing the following 32bit libraries, and Steam may not run:
libXrandr.so.2
libpangoft21.0.so.0
libpango1.0.so.0
libfreetype.so.6
libfontconfig.so.1
libgobject2.0.so.0
libglib2.0.so.0
libgtkx112.0.so.0
libgtkx112.0.so.0
libgdkx112.0.so.0
libpangocairo1.0.so.0
libgdk_pixbuf2.0.so.0
libcairo.so.2
libpango1.0.so.0
libfreetype.so.6
libfontconfig.so.1
libgobject2.0.so.0
libglib2.0.so.0
libXi.so.6
libasound.so.2
libXrender.so.1
libnss3.so
libnssutil3.so
libsmime3.so
libplc4.so
libnspr4.so
libdbus1.so.3
libpng12.so.0
libcups.so.2
libgcrypt.so.11
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I think you have 64bit Ubuntu, if so, try this: Open up a terminal (Ctrl+T).
A reboot may be required 

