São Paulo, April 29, 2016 -COMPANHIA SIDERURGICA NACIONAL ('Company')hereby informs its shareholders and the market in general, in addition to the material fact published on April 27, 2016, that CSN elected two (2) members of the Board of Directors and one (1) member of the Fiscal Council, and their respective alternates, at the Annual Shareholders' Meeting of Usinas Siderúrgicas de Minas Gerais S.A. ('USIMINAS') held on April 28, 2016. Said election was authorized by the Administrative Council for Economic Defense (Conselho Administrativo de Defesa Econômica, or 'CADE'), Brazil's antitrust authority, at a session held on April 27, 2016.

The candidates elected by CSN are (i) Gesner José Oliveira Filho (sitting member), (ii) Ricardo Antonio Weiss (sitting member), (iii) Derci Alcantara (alternate) and (iv) Sonia Julia Sulzbeck Villalobos (alternate) for the Board of Directors, and (v) Wagner Mar (sitting member) and (vi) Pedro Carlos de Mello (alternate) for the Fiscal Council.

The investiture of the members elected by CSN is conditioned to the signature of a term of commitment with CADE, which will ensure their full independence from CSN, in addition to other obligations such as to send periodic reports to CADE.

Furthermore, the work of these independent members will contribute to strengthening USIMINAS' governance and overcoming the company's crisis. To this end, we reaffirm that CADE's decision to allow the election of said members will contribute to ensuring USIMINAS' financial health and, consequently, to maintaining a healthy competitive environment in the steel market.

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CSN - Companhia Siderúrgica Nacional issued this content on 29 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 April 2016 19:08:15 UTC

Original Document: http://www.mzweb.com.br/csn/web/conteudo_en.asp?idioma=1&tipo=1442&conta=44&id=225303