California Steel Industries appoints board chairman

August 10, 2004

California Steel Industries Inc., Fontana, Calif., has announced the appointment of Vicente Wright as chairman of the board of directors. The appointment is in accordance with the company's policy of periodically rotating senior management positions between representatives of the company's shareholders, JFE Steel Corp., and Companhia Vale do Rio Doce (CVRD).

Wright has served as president and CEO since February 2003 and previously was CFO since 1998. Before he was assigned to California Steel, Wright was employed by CVRD, where he held various executive positions and served as a board member of several steel and ferroalloy organizations in Brazil and overseas.

Masakazu Kurushima, who most recently was president of JFE Steel America Inc.,has succeeded Wright as president and CEO. Before his appointment to JFE Steel America, Kurushima was staff general manager of the export department of JFE Steel Corp., Tokyo. He joined Kawasaki Steel Corp. in 1972 after graduating from Waseda University, Japan, with a degree in economics.