<SEC-DOCUMENT>0001292814-11-001462.txt : 20110517
<SEC-HEADER>0001292814-11-001462.hdr.sgml : 20110517
<ACCEPTANCE-DATETIME>20110516182650
ACCESSION NUMBER:		0001292814-11-001462
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110630
FILED AS OF DATE:		20110517
DATE AS OF CHANGE:		20110516

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:		11849210

	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>sid20110516_6k2.htm
<DESCRIPTION>MATERIAL FACT
<TEXT>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, D.C. 20549 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K </B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Report of Foreign Private Issuer<BR>Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Securities Exchange Act of 1934</FONT></DIV>

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<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of May, 2011</B></FONT></DIV><FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1-14732 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>COMPANHIA SIDER&#218;RGICA NACIONAL </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Exact name of registrant as specified in its charter) </FONT></DIV>

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<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>National Steel Company </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Translation of Registrant's name into English)</FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><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 color=#000000 size=2 face="Times New Roman">(Address of principal executive office)</FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">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> Form 20-F ___X___ Form 40-F _______

<P>&nbsp;<FONT size=3 face="Times New Roman, Times, Serif">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____ </DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 12pt" lang=PT-BR face="Times New Roman,serif">COMPANHIA SIDER&#218;RGICA NACIONAL</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 12pt; FONT-WEIGHT: normal" lang=PT-BR face="Times New Roman,serif">Publicly-Held Company</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 12pt; FONT-WEIGHT: normal" lang=EN-US face="Times New Roman,serif">Corporate Taxpayer&#8217;s ID (CNPJ/MF): 33.042.730/0001-04</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">MATERIAL FACT</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">Pursuant to the terms of CVM Rule 319/99 and CVM Rule 358/02, COMPANHIA SIDER&#218;RGICA NACIONAL (&#8220;CSN&#8221; or &#8220;Company&#8221;) hereby communicates to its shareholders and the market the conditions proposed for CSN&#8217;s merger of its subsidiary Inal Nordeste S.A., inscribed in the roll of corporate taxpayers (CNPJ/MF) under number 00.904.638/0001-57 and Corporate Registry (NIRE) 33.30026869-3 ("Inal Nordeste&#8221; or &#8220;Merged Corporation&#8221;) to be submitted for the approval of CSN's Extraordinary Shareholders' Meeting, to be held on May 30, 2011:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">1. Planned Operation: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">CSN plans to merge Inal Nordeste, with the transfer of its shareholders&#8217; equity to CSN, without a solution for business continuity having been developed for the Merged Corporation.&nbsp; With the Merger, the Merged Corporation will be automatically dissolved and CSN will succeed the Merged Corporation in all of its rights and obligations, in accordance with article 227 of Law 6404/76.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">2. Reasons for and Benefits of the Operation: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">The Merger will come with administrative and economic benefits, allowing the company to rationalize and unify currently existing operations, resulting in simplification of operations, reduction of administrative costs and spending, thereby optimizing the existing administrative structure and serving the interests of CSN and the Merged Corporation, as well as those of its shareholders. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">3. Lack of Absorption of Liabilities:&nbsp; </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">There are no liabilities and/or contingent liabilities that have yet to be accounted for, to the best knowledge of CSN and the Merged Corporation, to be absorbed by CSN as a result of the Merger. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">4. Cost of the Operation: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">CSN will assume all costs and expenses related to the Merger. The total cost of the Merger has been estimated at approximately fifty-five thousand reais (R$55,000.00), including costs with publication, filing of corporate acts, translations, auditing, appraisals, lawyers and other advisory expenses during the operation. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">5. Corporate Acts and Business Related to the Merger: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">The CSN Management approved the Merger, its submission to the Company&#8217;s shareholders and the respective Protocol and </FONT>


<FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">Justification for the Merger, which was signed by the Management of both CSN and Inal Nordeste on May 12, 2011.&nbsp; As a result, the Merger will be submitted for approval of the Extraordinary Shareholders&#8217; Meetings of CSN and Inal Nordeste, to be held on May 30, 2011 and called on this date.&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">6. Capital Stock and Lack of Impacts: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">Considering that on the date of the merger CSN will hold the entire capital stock of the Merged Corporation, CSN's capital stock will remain unaltered and there will be no need for issue of new shares.&nbsp; As the value of the shareholders&#8217; equity of the Merged Company is already reflected in CSN's shareholders&#8217; equity, no ratio to substitute shares will be required by the application of the equity income method.&nbsp; The political and equity advantages and other rights of CSN&#8217;s shareholders will not be modified in any way by the Merger. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">7. Dissolution of the Merged Corporation and Allocation of Stock: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">As a result of the Merger, Inal Nordeste will be dissolved, and, consequently, the shares representing the capital stock of the Merged Corporation held by CSN will also be terminated, thereby replacing CSN&#8217;s investment in the Merged Corporation with the merged net total assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">8. Appraisal of Merged Corporation&#8217;s Shareholders&#8217; Equity:&nbsp; </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">To value the shareholders&#8217; equity of the Merged Corporation to be transferred to CSN, the administrations of both the Company and the Merged Corporation contracted, pending approval by the Extraordinary Shareholders' Meeting of CSN and Inal Nordeste, KPMG Auditores Independents, a company established in the city of S&#227;o Paulo, at </FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman,serif">Rua Dr. Renato Paes de Barros, n&#186; 33, inscribed in the Ministry of Finance&#8217;s roll of corporate taxpayers under number 57.755.217/0001-29, originally registered with the Regional Accounting Council of the State of S&#227;o Paulo under number 2SP014428/O-6, a company specialized in appraisals (&#8220;Appraisal Company&#8221;) responsible for preparing an appraisal report of the Merged Corporation (&#8220;Appraisal Report&#8221;). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">8.1 </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">The reference date for the Merger shall be April 30, 2011 (&#8220;Reference Date&#8221;). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">8.2 </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">The shareholders&#8217; equity of the Merged Corporation shall be appraised according to its accounting value, based on the balance sheet of the Merged Corporation on the Reference Date (&#8220;Balance Sheet&#8221;), considering CSN's ownership of all stock issued by Inal Nordeste. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">8.3 </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">Since&nbsp;</FONT><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"> </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">the entire capital stock of the Merged Corporation will be held by CSN, thereby lacking minority shareholders, there is no need for the preparation of an appraisal report at market prices in order to comply with the terms of article 264 of Law 6404 of December 15, 1976 (&#8220;Brazilian Corporation Law&#8221;). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman,serif">8.4 </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman,serif">In accordance with the Appraisal Report, the total value of the accounts representing goods, rights and obligations that make up the Merged Corporation's net assets to be transferred to CSN is twenty-seven million, seven hundred fifty-three thousand, eight hundred twenty reais and fifty-seven centavos (R$27,753,820.57). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 35.4pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">8.5 </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">The Appraisal Company declared that it has no conflict of interests or shares interests, real or potential, with the shareholders of either CSN or the Merged Corporation or in relation to the operation itself. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">9. Right to Withdrawal: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">Given that the whole of shares making up the Merged Corporation's capital stock shall be, on the date of the merger, held by CSN, rules concerning the right to withdrawal do not apply to this specific operation. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">10. Availability of Documents Regarding the Merger: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">All documents regarding the Merger are available to shareholders, as of this date, at the headquarters of CSN located at Av. Brig. Faria Lima, 3400, 19<SUP>o</SUP> e 20<SUP>o</SUP> andares e 15<SUP>o </SUP>andar - parte, CEP 04538-132, in the city and state of S&#227;o Paulo and its website (www.csn.com.br).</FONT><FONT style="LINE-HEIGHT: 150%; LAYOUT-GRID-MODE: line; FONT-SIZE: 12pt" lang=EN-US face="Times New Roman,serif"> &nbsp;</FONT><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">&nbsp;Pursuant to article 2, clause 1, item XVII of CVM Rule 319/99, said documents were also delivered to the Brazilian Securities and Exchange Commission (CVM) and BM&amp;FBOVESPA S.A. &#8211; Securities, Commodities and Futures Exchange. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">11. Conditions to which the Merger is Subject: </FONT></B><FONT style="LINE-HEIGHT: 150%; FONT-SIZE: 11pt" lang=EN-US color=black face="Times New Roman,serif">The basis for the operation contained in this notice, found in detail in the Protocol and Justification for the Merger is subject to the final approval of the Extraordinary Shareholders' Meetings of both CSN and Inal Nordeste.&nbsp; The Merger is not subject to approval by Brazilian or foreign antitrust authorities. </FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=PT-BR color=black face="Times New Roman,serif">S&#227;o Paulo, May 12, 2011</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=PT-BR color=black face="Times New Roman,serif">_________________________________________________</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=PT-BR color=black face="Times New Roman,serif"><STRONG>COMPANHIA SIDER&#218;RGICA NACIONAL<BR></STRONG><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=PT-BR color=black face="Times New Roman,serif">Paulo Penido Pinto Marques</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT style="LINE-HEIGHT: 17pt; FONT-SIZE: 11pt" lang=PT-BR color=black face="Times New Roman,serif">Investor Relations Officer</FONT></P>

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<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">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>

<DIV style="TEXT-INDENT: 4%"><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;May 16, 2011</FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman">COMPANHIA SIDER&#218;RGICA NACIONAL </FONT></DIV></TD></TR>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></DIV></TD>

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Benjamin Steinbruch </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Benjamin Steinbruch </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Chief Executive Officer <BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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   <DIV align=center><FONT color=#000000 size=2 face="Times New Roman">/<SMALL>S</SMALL>/&nbsp;Paulo Penido Pinto Marques </FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Paulo Penido Pinto Marques </B></FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman"><B>Chief Financial Officer and Investor Relations Officer<BR><BR></B></FONT></DIV></TD></TR></TABLE></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P align=justify><FONT size=2 face="Times New Roman, Times, Serif">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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