OREANDA-NEWS. January 31, 2012. COMPANHIA SIDERURGICA NACIONAL (“CSN”) hereby announces that it has priced, through its wholly-owned subsidiary CSN Resources S.A., an additional bond issuance in the amount of USD 200 million, through the reopening of the USD 1 billion bonds, at an interest rate of 6.5% p.a., due in July 2020, in accordance with Rule 144A and Regulation S of the United States of America (“Bonds”). The offering price was 106.00% and yield was 5.6% p.a.. The bonds are guaranteed by CSN and the funds raised with the issuance will be used to pay short-term debt, extend the group’s debt profile and for general corporate purposes.

Bonds were not and will not be registered according to the U.S. Securities Act of 1933 and cannot be offered or sold in the United States of America. Therefore, bonds will not be registered with the U.S. Securities and Exchange Commission or any other capital-market regulatory agency or body in any other country; and thus, bonds cannot be offered or sold in the U.S. without an applicable registration exemption. Once the bonds will not be offered or placed in Brazil, they will also not be registered with the Brazilian Securities and Exchange Commission (CVM). This notice does not constitute an offer for the sale or bid for any securities.