Gerdau Ameristeel Announces Leadership Changes

Gerdau Ameristeel COO to become executive VP of Gerdau Group.

Gerdau Ameristeel Corp. has announced that after three years with the company, Andre Johannpeter, currently chief operating officer for Gerdau Ameristeel, 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.

Johannpeter will leading the Gerdau Group's sales and
marketing, raw materials, procurement and logistics, human resources and
organizational development efforts at a global level. He 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, Brazil, office as executive vice
president. He will hold global responsibility for the specialty steel business
unit for the Gerdau Group.

In a related announcement, Michael Mueller, currently vice president of
the Southeastern steel mill operations, will become vice president of all North
American steel mill operations for Gerdau Ameristeel.

Gerdau Ameristeel is the second largest mini-mill steel producer in North
America with annual manufacturing capacity in excess of 8.4 million tons of mill
finished steel products. Through its vertically integrated network of 15
mini-mills, 16 scrap recycling facilities and 42 downstream operations, 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.

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