Table of Contents

List of Subsidiaries

	Direct and Indirect
	Ownership interest
	(%)		Main activities
Companies	2007	2008
Full consolidation
CSN Energy	100.00	100.00	Holding Company	Luxemburg
CSN Export	100.00	100.00	Financial operations and trading	Luxemburg
CSN Islands VII	100.00	100.00	Financial operations	Grand Cayman/Cayman Islands
CSN Islands VIII	100.00	100.00	Financial operations	Grand Cayman/Cayman Islands
CSN Islands IX	100.00	100.00	Financial operations	Grand Cayman/Cayman Islands
CSN Islands X	100.00	100.00	Financial operations	Grand Cayman/Cayman Islands
CSN Islands XI (1)	100.00	100.00	Financial operations	Grand Cayman/Cayman Islands
CSN Overseas	100.00	100.00	Financial operations and holding company	Luxemburg
CSN Panama	100.00	100.00	Financial operations and holding company	Luxemburg
CSN Steel	100.00	100.00	Financial operations and holding company	Luxemburg
Sepetiba Tecon	99.99	99.99	Maritime port services	Itaguaí/RJ, Brazil
CSN I (2)	99.99	-	Holding company	Rio de Janeiro/RJ, Brazil
Estanho de Rondônia - ERSA	99.99	99.99	Mining	Ariquemes/RO, Brazil
Cia. Metalic Nordeste	99.99	99.99	Package production	Maracanaú/CE, Brazil
Indústria Nacional de Aços Laminados - INAL (2)	99.99	-	Steel products service center	Araucária/PR, Brazil
CSN Cimentos	99.99	99.99	Cement production	Volta Redonda/RJ, Brazil
Inal Nordeste	99.99	99.99	Steel products service center	Camaçari/BA, Brazil
CSN Energia	100.00	100.00	Trading of electricity	Rio de Janeiro/RJ, Brazil
Nacional Minérios	99.99	-	Mining and holding company	Congonhas/MG, Brazil
CSN Aceros	100.00	100.00	Holding company	Panama City/Panama
CSN Cayman	100.00	100.00	Financial operations and trading	Malta
CSN Iron	100.00	100.00	Financial operations	Panama City/Panama
Companhia Siderurgica Nacional LLC	100.00	100.00	Steel industry	Deleware/EUA
CSN Holdings Corp	100.00	100.00	Holding company	Deleware/EUA
Companhia Siderurgica Nacional Partner LLC	100.00	100.00	Holding company	Deleware/EUA
Energy I	100.00	100.00	Holding company	Malta
Tangua	100.00	100.00	Holding company	Panama City/Panama
CSN Madeira	100.00	100.00	Financial operations and holding company	Madeira Island/Portugal
Cinnabar	100.00	100.00	Financial operations and holding company	Madeira Island/Portugal
Hickory	100.00	100.00	Financial operations and trading	Madeira Island/Portugal
Lusosider Projectos Siderúrgicos	100.00	100.00	Holding company	Seixal/Portugal
Lusosider Aços Planos	99.94	99.94	Steel industry	Seixal/Portugal

CSN Finance	100.00	100.00	Financial operations and holding company	London/England
CSN Holdings	100.00	100.00	Financial operations and holding company	London/England
Cia Metalúrgica Prada (Prada)	99.99	99.99	Package production	São Paulo/SP, Brazil
GalvaSud	100.00	99.99	Steel industry	Rio de Janeiro/RJ, Brazil
Pelotização Nacional (1)	99.99	-	Mining and holding company	Congonhas/MG, Brazil
Minas Pelotização (1)	99.99	99.99	Mining and holding company	Congonhas/MG, Brazil
CSN Aços Longos (1)	99.99	99.99	Steel and metal products industry and trading	Volta Redonda/RJ, Brazil
Nacional Siderurgia (1)	99.99	99.99	Steel industry	Congonhas/MG, Brazil
CSN Gestão de Recursos Financeiros (1)	99.99	99.99	Financial operations and holding company	São Paulo/SP, Brazil
Congonhas Minérios (1)	99.99	99.99	Mining and holding company	Congonhas/MG, Brazil
CSN Acquisitions (1)	100.00	100.00	Financial operations and holding company	London/England
Companhia de Fomento Mineral (1) (2)	100.00	-	Mining and holding company	Ouro Preto/MG, Brazil
MG Minérios (1)	99.99	-	Mining and holding company	Congonhas/MG, Brazil
Inversiones CSN Espanha S.L. (1)	100.00	-	Financial operations and holding company	Madrid/Spain
CSN Finance B.V. (Netherlands) (1)	100.00	100.00	Financial operations and holding company	Netherlands
International Investment Fund - IIF	100.00	100.00	Financial operations and holding company	Belize
Itamambuca	99.93	99.93	Mining and holding company	Arcos/MG, Brazil
Arame Corporation	100.00	100.00	Dormant company	Panama City/Panama
TdBB	100.00	100.00	Dormant company	Panama City/Panama
International Charitable Corporation	100.00	100.00	Dormant company	Panama City/Panama
Not consolidated
Nacional Minérios	-	59.99	Mining and holding company	Congonhas/MG, Brazil
Pelotização Nacional (1)	-	59.99	Mining and holding company	Congonhas/MG, Brazil
MG Minérios (1)	-	59.99	Mining and holding company	Congonhas/MG, Brazil
NMSA Madeira Lda. (3)	-	60.00	Financial operations and trading	Madeira Island/Portugal
Inversiones CSN Espanha S.L. (1)	-	60.00	Financial operations and holding company	Madrid/Spain
Itá Energética	48.75	48.75	Electricity Generation	São Paulo/SP, Brazil
Transnordestina Logística (4)	46.88	84.50	Railroad transportation	Fortaleza/CE, Brazil
MRS Logística	37.27	33.27	Railroad transportation	Rio de Janeiro/RJ, Brazil
Exclusive investment funds consolidated
Mugen – Fundo de Investimento Multimercado	100.00	100.00	Investment funds
Diplic – Fundo de Investimento Multimercado	100.00	100.00	Investment funds

(1)	Companies incorporated during 2007.
(2)	Companies merged during 2008.
(3)	Company incorporated during 2008.
(4)	Former Companhia Ferroviária do Nordeste (CFN).