FORM OF EXCHANGE AGENT AGREEMENTForm of Exchange Agent Agreement • September 27th, 2005 • CSN Islands IX Corp. • Steel works, blast furnaces & rolling & finishing mills • New York
CSN Islands IX Corp., a Cayman Islands Company (the “Company”), proposes to make an offer (the “Exchange Offer”) to exchange up to $400,000,000 in principal amount of the Company’s registered 10.00% Guaranteed Notes due 2015 (the “New Notes”) for a like principal amount of its outstanding unregistered 10.00% Guaranteed Notes due 2015 (the “Old Notes”). The Old Notes were, and the New Notes will be, issued under an indenture dated September 24, 2004 (the “Indenture”) among the Company, Companhia Siderurgica Nacional (“CSN”), JPMorgan Chase Bank, as trustee and New York paying agent, J.P. Morgan Trust Bank LTD., as principal paying agent and J.P. Morgan Bank Luxembourg S.A., as Luxembourg paying agent. The terms and conditions of the Exchange Offer as currently contemplated are set forth in a prospectus dated , 2005 (the “Prospectus”) included in the Company’s registration statement on Form F-4 (File No. 333-128416), as amended (the “Registration Statement”) filed with the Securities and
