October 11, 2008

California Steel announces appointment of new chairman

California Steel Industries Inc announced that Mr Vicente Wright the current chairman of the board of directors of the Company has been selected to assume the position of president & CEO of the Company effective July 1st 2008.

Additionally, the Company also announced that the current president and CEO of the Company, Mr Masakazu Kurushima will be appointed to the board of directors, also effective July 1st 2008, where he will take the position of chairman of the board.

California Steel said that the appointments are in accordance with the policy of periodically rotating senior management positions between representatives of the Company's shareholders, JFE Steel Corporation and Rio Doce Limited, a wholly owned subsidiary of Companhia Vale do Rio Doce.