Jan. 16, 2006 — Gerdau Ameristeel Corp. announced that Andre Johannpeter, currently Chief Operating Officer, will return to the Gerdau Group Corporate Office in Porto Alegre, Brazil, in the second quarter of 2006 as Executive Vice President for Gerdau Group. In his new position, Mr. Johannpeter will hold global responsibility for leading the Gerdau Group's processes of sales and marketing, raw materials, procurement and logistics, human resources and organizational development. Mr. Johannpeter, who was with Gerdau Ameristeel for three years, will remain on the Gerdau Ameristeel Board of Directors.

After two years with Gerdau Ameristeel, Paulo Vasconcellos, currently Vice President of Northeastern Mill Operations for Gerdau Ameristeel, will relocate to the Gerdau Group Sao Paulo Office in Brazil as Executive Vice President and will hold global responsibility for the specialty steel business unit of the Gerdau Group.

In addition, Michael Mueller, currently Vice President of Southeastern Steel Mill Operations, will become Vice President of all North American steel mill operations for Gerdau Ameristeel.

Gerdau Ameristeel is the second largest minimill steel producer in North America with annual manufacturing capacity of over 8.4 million tons of mill finished steel products. Through its vertically integrated network of 15 minimills (including one 50%-owned minimill), 16 scrap recycling facilities, and 42 downstream operations (including two 50%-owned joint ventures), Gerdau Ameristeel primarily serves customers in the eastern two-thirds of North America. The company's products are generally sold to steel service centers, to fabricators, or directly to original equipment manufacturers for use in a variety of industries, including construction, cellular and electrical transmission, automotive, mining and equipment manufacturing.