Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
NOTICE TO THE MARKET
COMPANHIA SIDERÚRGICA NACIONAL
Rua São José n° 20, Grupo 1602, parte
Rio de Janeiro/RJ
Corporate Taxpayer's ID (CNPJ/MF): 33.042.730/0001-04
The Board of Directors of COMPANHIA SIDERÚRGICA NACIONAL authorized, on the present date, the reopening of the Company’s share buyback program (“Share Buyback Program”), which will be held in treasury for subsequent sale or cancellation.
The Share Buyback Program shall respect the following limits and conditions, pursuant to the provisions of CVM Instructions 10/80 and 358/2002:
| I. |
The Company’s objective: to maximize the creation of value to shareholders through efficient capital structure management. |
| II. |
Number of shares to be acquired: up to 10,800,000 shares. |
| III. |
Effective period for performing authorized transactions: from September 29, 2008 to October 29, 2008, inclusively. |
| IV. |
Free float: 455,343,843 shares. |
| V. |
Place of Acquisitions: Stock Exchange |
| VI. |
Maximum Share Price: share acquisition price cannot exceed its trading price at the Stock Exchange. |
| VII. |
Brokers: Itaú Corretora de Valores S.A., located at Av. Engenheiro Armando de Arruda Pereira, 707 -15° andar- in the city of São Paulo, UBS Pactual Corretora de Mercadorias Ltda., located at Av. Brigadeiro Faria Lima, 3729
– 10° andar – in the city of São Paulo, Credit Suisse First Boston CTVM S.A., located at Av.
Brigadeiro Faria Lima 3064 – 13° andar- in the city of São Paulo, and Itaú USA Securities Inc., located at 540 Madison Avenue - 23rd Floor- in New York city – USA. |
| VIII. |
The Board of Directors has entrusted the Company’s Board of Executive Officers to take all necessary measures to implement this resolution, including the establishment of the most convenient date to start the share buyback. |
Rio de Janeiro, September 26, 2008.
Companhia Siderúrgica Nacional
Otávio de Garcia Lazcano
Investor Relations Executive Officer
COMPANHIA SIDERÚRGICA NACIONAL |
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By: |
/S/ Benjamin Steinbruch
|
|
Benjamin Steinbruch
Chief Executive Officer |
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By: |
/S/ Otávio de Garcia Lazcano
|
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Otávio de Garcia Lazcano
Chief Financial Officer and Investor Relations Officer |
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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.