Benjamin Steinbruch, CSN's CEO and Chairman, Signs Letter of Intent with Governor Aecio Neves RIO DE JANEIRO, Brazil, Dec. 19 /PRNewswire-FirstCall/ -- CSN's CEO and Chairman, Benjamin Steinbruch, signed a Letter of Intent with the Minas Gerais state government envisaging investments of around R$ 9.5 billion in the state over the next six years, including projects in mining, steel and cement production. In addition to expanding its largest mine of Casa de Pedra, with a current annual capacity of 16 million tonnes of iron ore to 65 million by 2011, CSN plans to build a new integrated steel mill with a total annual capacity of 4.5 million and an iron ore pelletizing facility, with an annual capacity of 6 million tonnes of pellets, in the same region. In addition, a clinker factory and a limestone plant, geared towards cement production, and a steel processing and distribution center are also planned as part of the Company's investments in Minas Gerais state. "These funds consolidate the cycle of investments previously announced by the Company and underline our commitment to the creation of shareholder value and the generation of wealth and jobs in Minas Gerais and in Brazil," declared Steinbruch. The municipality of Congonhas will host the main projects, which total around R$ 9 billion, of which R$ 6.2 billion is for the installation of the steel mill, R$ 850 million for the pelletizing plant and R$ 2.2 billion for the expansion of the Casa de Pedra mine. The clinker factory and limestone plant are planned to be installed in the city of Arcos. These two facilities are expected to absorb joint investments of R$ 205 million. The steel processing and distribution center, estimated to represent an investment of approximately R$ 20 million, shall be installed in the metropolitan region of Belo Horizonte, the capital city of the state of Minas Gerais. As a result, CSN estimates creating more than 10,000 new jobs in the region. Local workers will be given priority for jobs, with full training in manufacturing and technological development being provided to the workforce involved. For further information, please contact CSN - IR: (55 11) 3049-7591 http://www.csn.com.br/ir DATASOURCE: Companhia Siderurgica Nacional CONTACT: CSN Investor Relations, +011-55-11-3049-7591, Web site: http://www.csn.com.br/ir

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