Notice to Shareholders – Payment of Dividends


COMPANHIA SIDERÚRGICA NACIONAL, as a complement to the Notice to the Market released on March 31, 2009 about the judicial block of part of the funds to be used to pay dividends declared on March 24, 2009, informs its shareholders and the public that, in compliance with its legal obligations and aiming at the preservation of its shareholders’ rights, it will proceed with the payment of the remaining amount of said dividends.

The Company also informs that it will continue to take all judicial measures to release the funds blocked on the occasion of above mentioned dividend declaration.

In this context, the Company will pay on June 26, 2009, without monetary restatement, to its shareholders holding interest on March 24, 2009 dividends at the ratio of R$1.05365 per share outstanding on that date, not subject to withholding income tax (IRRF), pursuant legislation in force.

Shareholder Services are available during banking hours at the shareholder services section of Banco Itaú S.A. branches.

Rio de Janeiro, June 25, 2009

Paulo Penido Pinto Marques
Investor Relations Officer

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