CSN and CVRD Conclude the Sale Of FCA and the Acquisition of Tecon and CFN.

Business Editors

SAO PAULO, Brazil--(BUSINESS WIRE)--Nov. 10, 2003

Companhia Siderurgica Nacional ("CSN") (NYSE:SID) announces that it has signed today the contracts regarding the entangling of the logistics stakes between CSN and Companhia Vale do Rio Doce ("CVRD"). According to the release divulged in April this year, these contracts include the sale of CSN's stake at Ferrovia Centro-Atlantica S.A. ("FCA") to CVRD (affiliated company -- Tucuma Ltda); the sale to CSN and Taquari Participacoes S.A. of CVRD's stake at Companhia Ferroviaria do Nordeste ("CFN") and the commitment to sell to CSN CVRD's stake at Sepetiba Tecon S.A. (Tecon). In addition, contracts related to services among Tecon, CFN and CVRD and between CSN and FCA were also signed.

All these contracts constitute one transaction that will result in a total disbursement by CSN of approximately R$34 million, at the financial closing.

The conclusion of this transaction will enable investments in railway infrastructure and equipment, which may lead to improvement in the quality of cargo transportation to CSN's customers and to the growth of the economy and job generation in Brazil.

Companhia Siderurgica Nacional, located in the state of Rio de Janeiro, Brazil, is a steel complex integrated by investments in infrastructure and logistics, that combines in its operation captive mines, an integrated steel mill, service centers, ports and railways. With a total annual production capacity of 5,400,000 tonnes of crude steel and consolidated gross revenues of R$6.1 billion reported in 2002, CSN is also the only tin-plate producer in Brazil and one of the five largest tin-plate producers worldwide.