Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  

MATERIAL FACT

Publicly Held Company

COMPANHIA SIDERÚRGICA NACIONAL

Corporate Taxpayer’s ID (CNPJ): 33.042.730/0001-04

COMPANHIA SIDERÚRGICA NACIONAL (“Company”), in compliance with Article 157, Paragraph 4 of Law 6404/76 and Instruction 358/02 issued by the Securities and Exchange Commission of Brazil (“CVM”), hereby informs its shareholders and the market that its Board of Directors approved the fifth (5^th) public issue of non-convertible unsecured debentures in a single series ("Debentures"), for public distribution with restricted placement efforts, in accordance with CVM Instruction 476 of January 16, 2009 (“Restricted Offering”). The transaction  comprised the issue of 115 Debentures, with nominal unit value of R$10,000,000.00, totaling R$1,150,000,000.00, with maturity in eight years. The Debentures will be registered for distribution in the primary market and for trading in the secondary market through the Securities Distribution Module ("SDT") and the National Debentures Module ("SND"), respectively, both managed and operated by CETIP - OTC Clearing House ("CETIP") and with distribution and trading settled by CETIP, where the Debentures will be held in custody electronically.  

The Company further informs that on the present date all Debentures were subscribed and paid in, and the net proceeds raised by the Company through the Issue and the Restricted Offering, after deduction of the expected discounts, the distribution commissions and the estimated expenses to be paid by the Company, will be fully used to finance working capital and other activities of the Company.  

São Paulo, August 23, 2011

Companhia Siderúrgica Nacional

David Moise Salama

Investor Relations Officer