For immediate release

For More Information Contact:

CSN AND CVRD CONCLUDE THE SALE OF FCA AND THE ACQUISITION OF TECON AND CFN

(São Paulo, Brazil – November 7, 2003) - Companhia Siderúrgica 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-Atlântica S.A. (“FCA”) to CVRD (affiliated company - Tucumã Ltda); the sale to CSN and Taquari Participações S.A. of CVRD’s stake at Companhia Ferroviária 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 Siderúrgica 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.

The foregoing includes forward-looking statements, such as the proposed acquisition. Factors that could cause actual events or results to differ from those expressed or implied by the forward-looking statements include changes in the steel industry or the economic or political situation in Brazil or other countries or regions.

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.