1. GERDAU
February 2006
The World Money Show

2. Solid Track Record 17,797 16,372 TOTAL INVESTED (1981-Sep.2005):
In thousand tons
16,372
Araçariguama (Brazil)
Diaco (Col.)
TOTAL INVESTED (1981-Sep.2005):
Brazil = US$ 4.0 billion + Debt
North America = US$ 1.4 billion + Debt
South America = US$ 448 million + Debt
Potter Form
Gate City & RJ
North Star (USA)
SACK (Chile)
11,076
7,696
Controll of Açominas (Brazil)
Cartersville Drawing Co-Steel
(USA)
Ameristeel
(USA)
AZA New Plant (Chile)
Additional stake in Açominas (Brazil)
3,934
3,072
4,568
Piratini (Brazil)
AZA (Chile)
4,595
Cambridge (Canada)
Usiba (Brazil)
Stake in Açominas
(Brazil)
2,611
1,757
Manitoba
(Canada)
Barão de Cocais (Brazil)
Laisa (Uruguay)
Brazil – Crude Steel Installed Capacity
Abroad – Crude Steel Installed Capacity

3. An International Company
Total Capacity (Includes Joint Ventures)
18.6
million tons of crude steel
14.4
million tons of rolled steel products
Brazil
8.5 million tons of crude steel
4.8 million tons of rolled steel products
11 mills
11 fabrication shops
6 downstream operations and special
sections
75 sales points and flat steel service centers
Abroad
10.1 million tons of crude steel
9.6 million tons of rolled steel products
Rolling mill
18 mills and 1 rolling mill
Steel mills
37 fabrication shops
Joint venture
17 downstream operations and special
sections
Cylinders factory
2 joint ventures (USA and Spain)

4. Comparison of Results 9M2005 – Annualized Data *
* Last stock price in

5. Gerdau S.A.