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<SEC-DOCUMENT>0001292814-09-000810.txt : 20090414
<SEC-HEADER>0001292814-09-000810.hdr.sgml : 20090414
<ACCEPTANCE-DATETIME>20090414141221
ACCESSION NUMBER:		0001292814-09-000810
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090630
FILED AS OF DATE:		20090414
DATE AS OF CHANGE:		20090414

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL STEEL CO
		CENTRAL INDEX KEY:			0001049659
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14732
		FILM NUMBER:		09748378

	BUSINESS ADDRESS:	
		STREET 1:		RUA LAURO MULLER
		STREET 2:		116 36 ANDAR
		CITY:			RIO DE JANEIRO RJ BR
		STATE:			D5
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sid20090414_6k.htm
<DESCRIPTION>MANAGEMENT PROPOSAL
<TEXT>
<HTML>
<HEAD>
   <TITLE>Provided by MZ Technologies</TITLE>

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<BODY style="font-family: 'Times New Roman, Times, Serif'; text-align:justify; font-size:11px" bgcolor="#ffffff">

<HR SIZE="4" NOSHADE COLOR="#000000" ALIGN="left">
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="5" COLOR="#000000"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>Washington, D.C. 20549 </B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<HR align=center NOSHADE WIDTH="21%" COLOR="#000000">
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="5" COLOR="#000000"><B>FORM 6-K </B></FONT></DIV>
<DIV><FONT
SIZE="1">&nbsp;</FONT></DIV
><DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"
COLOR="#000000">Report of Foreign Private Issuer<BR>
  Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>
<DIV
ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000">Securities Exchange Act of 1934</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center">
  <div><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B> For the month of April, 2009</B></FONT></DIV>
  <p></p>
  <FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B> Commission File Number 1-14732 </B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<HR align=center NOSHADE WIDTH="21%" COLOR="#000000">
<DIV><FONT
SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="5" COLOR="#000000"><B> COMPANHIA SIDER&#218;RGICA NACIONAL </B></FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(Exact name of registrant as specified in its charter) </FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"> </DIV>
<P></P>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="5" COLOR="#000000"><B> National Steel Company </B></FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(Translation of Registrant's name into English)</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<P></P>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B> Av. Brigadeiro Faria Lima 3400, 20&#186; andar<BR>
  S&#227;o Paulo, SP, Brazil<BR>
  04538-132 </B></FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(Address of principal executive office)</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<P>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"> Indicate by check mark whether the registrant files or will file annual reports<BR>
  under cover Form 20-F or Form 40-F.&nbsp;</FONT>
    <P></P>
    Form 20-F ___X___ Form 40-F _______
    <P>&nbsp;<FONT FACE="Times New Roman, Times, Serif" SIZE=3>Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>&nbsp;</P>
    Yes _______ No ___X____
    <p></p>
</DIV>
<hr size="2" noshade color="#000000" align="left">
<H5 align="left" style="page-break-before:always"></H5>
<A name="page_1"></A>
<div align="right"><img src="logo.gif" width="220" height="87"></div>
<p align="center"><b>MANAGEMENT  PROPOSAL</b></p>
<p align="left"><b>Shareholders  of <br>
  Companhia Sider&uacute;rgica Nacional</b></p>
<p align="left">The Management of Companhia Sider&uacute;rgica Nacional  submits to its Shareholders the proposal for the allocation of net income  related to the fiscal year ended on December  31, 2008 in the amount of R$4,675,526,467.07 adjusted by (i) the addition of R$296,744.93 and R$56,226.02 deriving  from dividends and interest on equity assigned, respectively and (ii) the deduction  of R$22,302,366.68 deriving from adjustments of Law 11,638/2007, amounting to R$4,653,577,071.34 to be allocated.</p>
<p align="left">As provided for in CSN&rsquo;s Bylaws, the Company shall  distribute as dividend, every fiscal year, at least, twenty-five per cent (25%)  of the net income for the year, pursuant to Article 202 of Law 6,404 of December  15, 1976.</p>
<p align="left">The Company has already declared the early  distribution of dividends based on the profits earned in the balance sheet  drawn up on June 30, 2008, in the total amount of R$1,660,000,000.00. These  declarations of early distribution of dividends already include the minimum  mandatory dividend.</p>
<p>Thus, the allocation proposal is the following:</p>
<p>a) &nbsp;&nbsp;pay the amount of R$268,405,382.00,  as Interest on Equity, corresponding to the gross amount of R$0.353784 per  share, and except for the immune and exempted shareholders, this amount is  subject to a fifteen per cent (15%) withholding income tax, &nbsp;rate which shall not be applied to those shareholders  domiciled in the country who do not assess income or assess it at the maximum  rate lower than twenty per cent (20%). In this case, they are subject to a  twenty-five per cent (25%) withholding income tax, as provided for by Article 8  of Law 9,779/99;

<p>b) &nbsp;&nbsp;ratify the declaration of early distribution of dividends  approved by the Board of Directors on August 12, 2008, in the amount of one hundred, sixty million reais (R$160,000,000.00),  corresponding to R$0.207935 per share,&nbsp;  and on March 24, 2009, in the amount of one billion, five hundred  million reais (R$1,500,000,000.00), corresponding  to R$1.977146 per share.
  </p>
<p>c) &nbsp;&nbsp;establish an investment reserve  to meet the investments projects covered by the Capital Budget for the current year,  to be approved by the General Meeting, which will comprise, among other  investments, the Company&rsquo;s expansion projects and new businesses.
  </p>
<HR SIZE="2" NOSHADE COLOR="#000000" ALIGN="left">
<p><A name="page_2"></A></p>
  <p align="right"><img src="logo.gif" width="220" height="87"></p>
  <p>d) &nbsp;&nbsp;considering that the maximum  limit of the legal reserve has already been attained, no amount shall be  allocated to such reserve.
    </p>
<p>It is worth mentioning that the Management Report on  the Company&rsquo;s social business and the main administrative facts for the year ended,  a copy of the Financial Statements and respective notes, as well as the  independent auditors&rsquo; opinion are available to shareholders as of March 30,  2009, on the website of the Brazilian Securities and Exchange Commission &nbsp;(&ldquo;CVM&rdquo;) (<font color="#0000FF">www.cvm.gov.br</font>),  on the Company&rsquo;s website (<font color="#0000FF">www.csn.com.br</font>)  and published in the newspapers <i>Gazeta  Mercantil</i> and <i>Jornal do Commercio  (RJ)</i> on March 30, 2009 and in the Official Gazette of the State of Rio de  Janeiro, on April 1, 2009.</p>
  <p>Managers attending the Meeting may provide all the  clarifications the shareholders deem necessary for their decision.</p>
  <p align="center"><b>Rio de Janeiro, April 14,  2009</b></p>
  <p align="center">&nbsp;</p>
  <p align="center"><b>BENJAMIN STEINBRUCH<br>
  Chairman of the Board of Director</b></p>
<H5 align="left" style="page-break-before:always"></H5>

<hr size="2" noshade color="#000000" align="left">
<p><FONT SIZE="1">&nbsp;</FONT></p>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>SIGNATURE </B></FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV STYLE="text-indent:4%"><FONT FACE="Times New Roman" SIZE="3"COLOR="#000000">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></DIV>
<p></p>
<DIV STYLE="text-indent:4%"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"> Date: April 14, 2009</FONT></DIV>
<p></p>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center">
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="50%" BORDER="0">
    <TR>
      <TD VALIGN="top" COLSPAN="3" WIDTH="50%"><DIV align=left><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"> COMPANHIA SIDER&#218;RGICA NACIONAL </FONT></DIV></TD>
    </TR>
    <TR>
      <TD HEIGHT="16"></TD>
    </TR>
    <TR>
      <TD VALIGN="top" WIDTH="5%"><DIV align=left><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By:</FONT></DIV></TD>
      <TD VALIGN="bottom" ALIGN="center" WIDTH="43%"><DIV ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2" COLOR="#000000">/<SMALL>S</SMALL>/&nbsp;Benjamin Steinbruch </FONT></DIV>
          <HR NOSHADE SIZE=1 COLOR="#000000" ALIGN="left"></TD>
    </TR>
    <TR>
      <TD><FONT SIZE="1">&nbsp;</FONT></TD>
      <TD VALIGN="bottom" ALIGN="center" WIDTH="43%"><DIV ALIGN=left><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B> Benjamin Steinbruch
 </B></FONT></DIV>
          <DIV ALIGN=left><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Chief Executive Officer <br>
          <br>
      </B></FONT></DIV></TD>
    </TR>
  </TABLE>
</DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<P>&nbsp;</P>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center">
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="50%" BORDER="0">
    <TR>
      <TD VALIGN="top" COLSPAN="3" WIDTH="50%"><DIV align=left></DIV></TD>
    </TR>
    <TR>
      <TD HEIGHT="16"></TD>
    </TR>
    <TR>
      <TD VALIGN="top" WIDTH="5%"><DIV align=left><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By:</FONT></DIV></TD>
      <TD VALIGN="bottom" ALIGN="center" WIDTH="43%"><DIV ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2" COLOR="#000000">/<SMALL>S</SMALL>/&nbsp;Ot&#225;vio de Garcia Lazcano </FONT></DIV>
          <HR NOSHADE SIZE=1 COLOR="#000000" ALIGN="left"></TD>
    </TR>
    <TR>
      <TD><FONT SIZE="1">&nbsp;</FONT></TD>
      <TD VALIGN="bottom" ALIGN="center" WIDTH="43%"><DIV ALIGN=left><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B> Ot&#225;vio de Garcia Lazcano
 </B></FONT></DIV>
          <DIV ALIGN=left><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Chief Financial Officer and  Investor Relations Officer<br>
          <br>
      </B></FONT></DIV></TD>
    </TR>
  </TABLE>
</DIV>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<P>&nbsp;</P>
<DIV><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"
COLOR="#000000"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>
<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2> This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or



























 results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>
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