Equity interest (%)
Companies	12/31/2011	12/31/2010	Main activities	Jurisdiction
Direct interest: full consolidation
CSN Islands VII Corp.	100.00	100.00	Financial transactions	Grand Cayman/Cayman Island
CSN Islands VIII Corp.	100.00	100.00	Financial transactions	Grand Cayman/Cayman Island
CSN Islands IX Corp.	100.00	100.00	Financial transactions	Grand Cayman/Cayman Island
CSN Islands X Corp.	100.00	100.00	Financial transactions	Grand Cayman/Cayman Island
CSN Islands XI Corp.	100.00	100.00	Financial transactions	Grand Cayman/Cayman Island
CSN Islands XII Corp.	100.00	100.00	Financial transactions	Grand Cayman/Cayman Island
Tangua Inc.	100.00	100.00	Financial transactions	Panama City/Panama
International Investment Fund	100.00	100.00	Equity interests and financial transactions	Belize
CSN Minerals S. L.(1)	100.00	100.00	Equity interests	Madrid/Spain
CSN Export Europe, S.L. (2)	100.00	100.00	Financial transactions, product sales and equity interests	Madrid/Spain
CSN Metals S.L. (3)	100.00	100.00	Equity interests and financial transactions	Madrid/Spain
CSN Americas S.L. (4)	100.00	100.00	Equity interests and financial transactions	Madrid/Spain
CSN Steel S.L. (5)	100.00	100.00	Equity interests and financial transactions	Madrid/Spain
TdBB S.A	100.00	100.00	Dormant company	Panama City/Panama
Sepetiba Tecon S.A.	99.99	99.99	Port services	Itaguaí/RJ, Brazil
Mineração Nacional S.A.	99.99	99.99	Mining and equity interests	Congonhas/MG,Brazil
CSN Aços Longos S.A.- merged by Parent Company on 1/28/2011		99.99	Manufacture and sale of steel and/or metallurgical products	Volta Redonda/RJ, Brazil
Florestal Nacional S.A.(6)	99.99	99.99	Reforestation	São Paulo/SP, Brazil
Estanho de Rondônia S.A.	99.99	99.99	Tin mining	Ariquemes/RO, Brazil
Cia Metalic Nordeste	99.99	99.99	Manufacture of packaging and distribution of steel products	Maracanaú/CE, Brazil
Companhia Metalúrgica Prada	99.99	99.99	Manufacture of packaging and distribution of steel products	São Paulo/SP, Brazil
CSN Cimentos S.A.	99.99	99.99	Cement manufacturing	Volta Redonda/RJ, Brazil
Inal Nordeste S.A.- merged by Parent Company on 5/30/2011		99.99	Service center for steel products	Camaçari/BA, Brazil
CSN Gestão de Recursos Financeiros Ltda.	99.99	99.99	Dormant company	São Paulo/SP, Brazil
Congonhas Minérios S.A.	99.99	99.99	Mining and equity interests	Congonhas/MG,Brazil
CSN Energia S.A.	99.99	99.99	Sale of electric power	Rio de Janeiro/RJ, Brazil
Transnordestina Logística S.A.	70.91	76.45	Railroad logistics	Fortaleza/CE, Brazil
Indirect interest: full consolidation
CSN Aceros S.A.	100.00	100.00	Equity interests	Panama City/Panama
Companhia Siderurgica Nacional LLC	100.00	100.00	Steel	Delaware/EUA
CSN Europe Lda.(7)	100.00	100.00	Financial transactions, product sales and equity interests	Madeira Island/Portugal
CSN Ibéria Lda.	100.00	100.00	Financial transactions and equity interests	Madeira Island/Portugal
CSN Portugal, Unipessoal Lda. (8)	100.00	100.00	Financial transactions and product sales	Madeira Island/Portugal
Lusosider Projectos Siderúrgicos S.A.	100.00	100.00	Equity interests	Seixal/Portugal
Lusosider Aços Planos, S. A.	99.94	99.94	Steel and equity interests	Seixal/Portugal
CSN Acquisitions, Ltd.	100.00	100.00	Financial transactions and equity interests	London/England
CSN Resources S.A.(9)	100.00	100.00	Financial transactions and equity interests	Münsbach/Luxemburg
CSN Finance UK Ltd	100.00	100.00	Financial transactions and equity interests	London/England
CSN Holdings UK Ltd	100.00	100.00	Financial transactions and equity interests	London/England
CSN Handel GmbH(10)	100.00		Financial transactions, product sales and equity interests	Vienna/Austria
Itamambuca Participações S. A. - merged by CSN Cimentos em 5/30/2011		99.99	Mining and equity interests	Arcos/MG, Brazil
Companhia Brasileira de Latas (11)	59.17		Sale of cans and containers in general and equity interests	São Paulo/SP, Brazil
Rimet Empreendimentos Industriais e Comerciais S. A.(11)	58.08		Production and sale of steel containers and forestry	Resende/RJ, Brazil
Companhia de Embalagens Metálicas MMSA (11)	58.98		Production and sale of cans and related activities	Barra Mansa/RJ, Brazil
Empresa de Embalagens Metálicas - LBM Ltda. (11)	58.98		Sales of containers and holding interests in other entities	Barra Mansa/RJ, Brazil
Empresa de Embalagens Metálicas - MUD Ltda. (11)	58.98		Production and sale of household appliances and related products	São Paulo/SP, Brazil
Empresa de Embalagens Metálicas - MTM do Nordeste (11)	58.98		Production and sale of cans and related activities	São Paulo/SP, Brazil
Companhia de Embalagens Metálicas - MTM (11)	58.98		Production and sale of cans and related activities	Teresina/PI, Brazil
Direct interest: proportionate consolidation
Nacional Minérios S.A.	60.00	60.00	Mining and equity interests	Congonhas/MG, Brazil
Itá Energética S.A.	48.75	48.75	Generation of electric power	São Paulo/SP, Brazil
MRS Logística S.A.	27.27	22.93	Railroad transportation	Rio de Janeiro/RJ, Brazil
Consórcio da Usina Hidrelétrica de Igarapava	17.92	17.92	Electric power consortium	Belo Horizonte/MG, Brazil
Aceros Del Orinoco S.A.	22.73	22.73	Dormant company	Panama City/Panama
CBSI - Companhia Brasileira de Serviços de Infraestrutura (12)	50.00		Provision of services	Araucária/PR, Brazil
Indirect interest: proportionate consolidation
Namisa International Minerios SLU	60.00	60.00	Equity interests and sales of products and minerals	Madrid/Spain
Namisa Europe, Unipessoal Lda.	60.00	60.00	Equity interests and sales of products and minerals	Madeira Island/Portugal
MRS Logística S.A.	6.00	10.34	Railroad transportation	Rio de Janeiro/RJ, Brazil
Aceros Del Orinoco S.A.	9.08	9.08	Dormant company	Panama City/Panama
Aloadus Handel GmbH (10)	60.00		Financial transactions, product sales and equity interests	Vienna/Austria
(1)New corporate name of CSN Energy S.à.r.l., changed on December 15, 2010.
(2)New corporate name of CSN Export S.à.r.l., changed on August 9, 2011.
(3)New corporate name of CSN Overseas S.à.r.l., changed on December 15, 2010.
(4)New corporate name of CSN Panamá S.à.r.l., changed on December 15, 2010.
(5)New corporate name of CSN Steel S.à.r.l., changed on December 17, 2010.
(6)New corporate name of Itaguaí Logística S.A., changed on December 27, 2010.
(7)New corporate name of CSN Madeira Lda., changed on January 8, 2010.
(8)New corporate name of Hickory-Comércio Internacional e Serviços Lda., changed on January 8, 2010.
(9)New corporate name of CSN Cement S.à.r.l., changed on June 18, 2010.
(10)Companies that became subsidiaries on November 3, 2011.
(11)Companies that became subsidiaries on July 12, 2011.
(12)Equity interest acquired on December 5, 2011.
Other consolidations
	Interest held
Exclusive funds	12/31/2011	12/31/2010	Main activities
Direct interest: full consolidation
DIPLIC - Fundo de investimento multimercado	100.00	100.00	Investment fund
Mugen - Fundo de investimento multimercado	100.00	100.00	Investment fund