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<SEC-DOCUMENT>0001292814-11-000092.txt : 20110113
<SEC-HEADER>0001292814-11-000092.hdr.sgml : 20110113
<ACCEPTANCE-DATETIME>20110113101502
ACCESSION NUMBER:		0001292814-11-000092
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110331
FILED AS OF DATE:		20110113
DATE AS OF CHANGE:		20110113

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:		11526715

	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>sid20110113_6k.htm
<DESCRIPTION>MATERIAL FACT
<TEXT>

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<DIV align=center><FONT face="Times New Roman" color=#000000 size=5><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>Washington, D.C. 20549 </B></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=5><B>FORM 6-K </B></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3>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" color=#000000 size=3>Securities Exchange Act of 1934</FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center>
<DIV><FONT face="Times New Roman" color=#000000 size=3><B>For the month of January, 2011</B></FONT></DIV>
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<FONT face="Times New Roman" color=#000000 size=3><B>Commission File Number 1-14732 </B></FONT></DIV>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=5><B>COMPANHIA SIDER&#218;RGICA NACIONAL </B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>(Exact name of registrant as specified in its charter) </FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center></DIV>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=5><B>National Steel Company </B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>(Translation of Registrant's name into English)</FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><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" color=#000000 size=2>(Address of principal executive office)</FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3>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____
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><B><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><FONT lang=PT-BR style="FONT-WEIGHT: normal; FONT-SIZE: 12pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">Publicly-Held Company</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><FONT lang=EN-US style="FONT-WEIGHT: normal; FONT-SIZE: 12pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">Corporate Taxpayer&#146;s ID (CNPJ/MF): 33.042.730/0001-04</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><FONT lang=EN-US style="FONT-WEIGHT: normal; FONT-SIZE: 12pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">Corporate Registry (NIRE): 3330001159-5</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>MATERIAL FACT</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>Pursuant to CVM Instructions 319/99 and 358/02, COMPANHIA SIDER&#218;RGICA NACIONAL (&#147;CSN&#148; or &#147;Company&#148;) hereby informs its shareholders and the market the proposed conditions for CSN&#146;s merger of its subsidiary CSN A&#231;os Longos S.A., inscribed in the corporate roll of taxpayers (CNPJ/MF) under no. 05.023.529/0001-44 and in the Corporate Registry (NIRE) under no. 33.3.00284583 ("CSN A&#231;os Longos&#148; or &#147;Merged Company&#148;) to be submitted for the approval of CSN's Extraordinary Shareholders' Meeting, to be held on January 28, 2011:</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>1. Intended Transaction: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>CSN intends to merge CSN A&#231;os Longos, with the transfer of its shareholders&#146; equity to CSN, with no interruption in the Merged Company&#146;s current activities. As a result of the Merger, the Merged Company will be legally dissolved and CSN will succeed it to all its rights and obligations, in accordance with article 227 of Law 6404/76.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>2. Reasons for and Benefits of the Transaction: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>The Merger will bring administrative and economic benefits, allowing for the rationalization and unification of current activities, thereby reducing administrative costs and expenses and streamlining the current administrative structure, meeting the interests of CSN and the Merged Company, as well as those of their shareholders. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>3. No Absorption of Liabilities: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>To the best knowledge of CSN and the Merged Company, there are no liabilities and/or unbooked contingent liabilities to be absorbed by CSN as a result of the Merger. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 12pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>4. Cost of the Transaction: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>CSN will be responsible for all costs and expenses related to the Merger. The total cost of the Merger is estimated at approximately fifty thousand Reais (R$50,000.00), including costs associated with publications, the filing of corporate acts, translations, auditors, appraisers, lawyers and other advisory expenses related to the transaction. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>5. Corporate and Business Acts&nbsp; Related to the Merger: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>CSN&#146;s Management approved the Merger and its submission to the Company&#146;s shareholders as well as the respective Protocol and Justification of Merger, which was signed by the Managements of both CSN and CSN A&#231;os Longos on January 12, 2011.&nbsp; As a result, the Merger will be submitted for the approval of the Extraordinary Shareholders&#146; Meetings of CSN and CSN A&#231;os Longos, to be held on January 28, 2011 and called on this date.&nbsp; </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>6. Capital Stock and Lack of Impact: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>Considering that on the date of the merger CSN will hold all the shares representing the Merged Company&#146;s capital stock, CSN's capital stock will remain unaltered and there will be no need for an issue of new shares. As the value of the Merged Company&#146;s shareholders&#146; equity is already reflected in CSN's shareholders&#146; equity, due to the application of the equity accounting method, there will also be no need for a share exchange ratio. CSN shareholders&#146; political and equity advantages and other rights will not be modified in any way by the Merger. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>7. Dissolution of the Merged Company and Allocation of Shares: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>As a result of the Merger, CSN A&#231;os Longos will be dissolved, and, consequently, those shares representing its capital stock held by CSN will also be dissolved, CSN&#146;s investment in the Merged Company being replaced by the merged net assets.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>8. Appraisal of the Merged Company&#146;s Shareholders&#146; Equity:&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>Subject to approval by CSN&#146;s Extraordinary Shareholders' Meeting, the Managements of the Company and the Merged Company hired KPMG Auditores Independents, headquartered in the city of S&#227;o Paulo, at </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">Rua Dr. Renato Paes de Barros, n&#186; 33, inscribed </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>in the corporate roll of taxpayers (CNPJ/MF) under no. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">57.755.217/0001-29 and originally registered with the S&#227;o P
aulo State Regional Accounting Council under no. 2SP014428/O-6, a specialized appraisal company (&#147;Appraisal Company&#148;), to appraise the Merged Company and draw up the respective appraisal report (&#147;Appraisal Report&#148;).</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>8.1 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>The reference date for the Merger will be December 31, 2010 (&#147;Reference Date&#148;). </FONT></P>
<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>8.2 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>The shareholders&#146; equity of the Merged Company will be appraised according to its book value, based on the Merged Company&#146;s balance sheet on the Reference Date (&#147;Balance Sheet&#148;), considering CSN's ownership of all shares issued by CSN A&#231;os Longos. </FONT></P>
<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black><B>8.3</B> As all the Merged Company&#146;s capital stock will be held by CSN, there will be no minority shareholders and therefore no need to prepare an appraisal report at market prices in order to comply with article 264 of Law 6,404 of December 15, 1976 (&#147;Brazilian Corporate Law&#148;).</FONT></P>
<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><STRONG></STRONG>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">8.4 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif">Pursuant to the Appraisal report, the total value of the accounts representing the goods, rights and obligations making up the Merged Company's net assets to be transferred to CSN is two hundred and sixty-four million, three hundred and sixteen thousand, seven hundred and fifty-eight Reais and seventy-nine centavos (R$264,316,758.79). </FONT></P>
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<P style="MARGIN: 0in 0in 0pt 35.4pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>8.5 </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>The Appraisal Company declared that it has no conflict or communion of interests, either real or potential, with the shareholders of either CSN or the Merged Company or in relation to the transaction itself. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>9. Withdrawal Right: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>Given that, on the date of the merger, all the shares making up the Merged Company's capital stock will be held by CSN, the rules governing withdrawal rights do not apply to this specific transaction. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>10. Availability of Documents Related to the Merger: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>All documents related to the Merger are available to shareholders, as of this date, at CSN&#146;s headquarters, located at Rua S&#227;o Jos&#233; n&#186; 20 - Grupo 1602, parte, Centro, in the city and state of Rio de Janeiro, and on its website (www.csn.com.br).</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 17pt" face="Times New Roman,serif"> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>&nbsp;Pursuant to article 2, paragraph 1, item XVII of CVM Instruction 319/99, these documents were also delivered to the Brazilian Securities and Exchange Commission &#150; CVM&nbsp; and the Securities, Commod
ities and Futures Exchange &#150; BM&amp;FBOVESPA S.A.. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>11. Conditions to which Mergers are Subject: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>The details of the transaction that is the object of this Material Fact are contained in the Protocol and Justification of Merger and are subject to final approval by the Extraordinary Shareholders' Meetings of CSN and CSN A&#231;os Longos. The Merger is not subject to approval by the Brazilian or foreign anti-trust authorities. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>Rio de Janeiro, January 12, 2011</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>Paulo Penido Pinto Marques</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 17pt" face="Times New Roman,serif" color=black>Investor Relations Officer</FONT></P>
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<DIV style="TEXT-INDENT: 4%"><FONT face="Times New Roman" color=#000000 size=3>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>
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<DIV style="TEXT-INDENT: 4%"><FONT face="Times New Roman" color=#000000 size=3>Date: January 13, 2011</FONT></DIV>
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<DIV align=left><FONT face="Times New Roman" color=#000000 size=3>COMPANHIA SIDER&#218;RGICA NACIONAL </FONT></DIV></TD></TR>
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<DIV align=left><FONT face="Times New Roman" color=#000000 size=2>By:</FONT></DIV></TD>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>/<SMALL>S</SMALL>/&nbsp;Benjamin Steinbruch </FONT></DIV>
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<DIV align=left><FONT face="Times New Roman" color=#000000 size=2><B>Benjamin Steinbruch </B></FONT></DIV>
<DIV align=left><FONT face="Times New Roman" color=#000000 size=2><B>Chief Executive Officer <BR>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>/<SMALL>S</SMALL>/&nbsp;Paulo Penido Pinto Marques </FONT></DIV>
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<DIV align=left><FONT face="Times New Roman" color=#000000 size=2><B>Paulo Penido Pinto Marques </B></FONT></DIV>
<DIV align=left><FONT face="Times New Roman" color=#000000 size=2><B>Chief Financial Officer and Investor Relations Officer<BR>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><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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