October 11, 2008

CSN announces share buyback

CSN announced that its board of directors authorized on the acquisition of up to 10,800,000 Company shares to be held in treasury for subsequent sale or cancellation.

The acquisition shall obey the following limits and conditions, pursuant to CVM Instruction 10/80:
1. The Company's objective: to maximize the creation of shareholder value through efficient capital structure management.
2. Number of shares to be acquired: up to 10,800,000.
3. Maximum term for the completion of the authorized operations: to April 28, 2008.
4. Number of shares outstanding: 455,343,843
5. Acquisition location: Sao Paulo Stock Exchange - BOVESPA
6. Maximum share price: the price may not exceed the stock market price.
7. Brokers: Itau Corretora de Valores SA, Pactual CTVM SA and Credit Suisse First Boston CTVM SA.