MINUTES OF SPECIAL MEETING OF COMPANHIA SIDERÚRGICA NACIONAL HELD ON JUNE 23, 2005, DRAWN UP IN SUMMARIZED FORMAT

1.     Date, time and place: June 23, 2005, at 10 a.m., at the head offices of the Company, at Rua São José n.° 20, Room 1602, Centro, Rio de Janeiro.

2.     Call: Adds published in second call in Jornal do Commercio, Gazeta Mercantil and Official Gazette of the State of Rio de Janeiro on June 8, 9 and 10, 2005. The referred adds are on the desk available to the interesting parties, released the reading and transcription of the same.

3.     Attendance: Shareholders representing more than the majority of the voting capital, as evidenced by the signatures in the Shareholders Attendance Book, observed the provisions of Article 135 of Law 6404/76, as of November 15, 1976.

4.     Chair: Due to the absence of the Chairman and Vice-Chairman of the Board of Directors of the Company, the Director Antonio Francisco dos Santos chaired the meeting and invited Mrs. Claudia Maria Sarti to be the meeting secretary.

5.     Decisions: 5.1 – By unanimous vote it was approved the drawn up of this minutes in abridged form and its publication with omission of the signatures of the present Shareholders, as allowed, respectively, by paragraphs 1^st and 2^nd of article 130 of Law 6,404, as of November 15, 1976 ("Law 6,404/76"). 5.2 – Approved by majority of the present Shareholders, being the abstentions and contrary votes filed with the head offices of the Company, the amendment to the By-laws of the Company with the purpose of creating the Audit Committee. In this sense, the By-laws becomes to be in force with the following amendments: (i) inclusion of item XL in Article 17 with the following wording: “XL – to elect and dismiss the members of the Audit Committee, determining their remuneration, to determine the duties of the Committee and to approve the operational rules the Committee establishes for its functioning.”; (ii)creation of the Chapter VI – THE AUDIT COMMITTEE, with the following wording: “Chapter VI – THE AUDIT COMMITTEE – Article 29 – The Company will have an Audit Committee composed by 3 (three) members, elected by the Board of Directors among its members, with term of office of 1 (one) year, reelection being allowed. Sole Paragraph – The Board of Directors will approve the Internal Rules of the Committee, whereby its functions and duties, which shall comply with the applicable laws and regulation regarding audit committees , will be determined.”; 5.3 – In view of the amendment above, the subsequent chapters and articles of the By-laws will be renumbered. Without any other matter to be discussed, the meeting has been suspended for the time necessary for drawing up these Minutes. After reopening the session, it was read, found conform and signed by the Chairman, Secretary and all attending Shareholders.

Rio de Janeiro, June 23, 2005.

I certify that this is the accurate copy of the original one, drawn up in the proper book.

___________________________
Secretary

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.