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                            (GERDAU AMERISTEEL LOGO)

             GERDAU AMERISTEEL ANNOUNCES LEADERSHIP SUCCESSION PLANS
                  AND APPOINTMENT OF MARIO LONGHI AS PRESIDENT

TAMPA, FLORIDA, JUNE 1, 2005 - - The Board of Directors of Gerdau Ameristeel
today announced the appointment of Phillip Casey as Chairman of the Board in
addition to his continuing duties as the Chief Executive Officer. Jorge
Johannpeter, current Chairman of the Board, will remain as a Director.

The Board has also approved the appointment of Mario Longhi to assume the
position of President, effective immediately. The Board anticipates that Mr.
Longhi will be elected to the Board in due course and will succeed to the
position of Chief Executive Officer following an orderly transition of executive
responsibilities to be completed by January 1, 2006.

Mario Longhi will be joining the company following a distinguished 23-year
international career with the executive team of Alcoa, recognized as the global
benchmark in the aluminum industry. Mr. Longhi recently served as a Vice
President of Alcoa, a member of Alcoa's Executive Council, and Group President
Global Extrusions and End Products. The Extrusions and End Products business
segment of Alcoa has executive offices in Geneva, Switzerland, and global
operating facilities that provide aluminum products to the aerospace,
automotive, building and construction and general industrial markets.

During his extensive international experience with Alcoa, Mr. Longhi provided
technical and professional leadership in the construction, start up, market
development, operation and change management of Alcoa's global mining, refining,
smelting, rolling, extrusion, casting and forging and other product
manufacturing affiliates. As a Group President and member of the Executive
Council, Mr. Longhi actively participated in Alcoa's strategic direction and
policy decisions as well as the continuous improvement cultural initiatives of
Alcoa's Business System. Mr. Longhi received bachelor and master graduate
degrees in metallurgical engineering from the University of Technology Maua, Sao
Paulo, Brazil.

After relinquishing his day-to-day leadership responsibilities, Mr. Casey will
continue to serve as Chairman and will transition to a more strategic role
guiding the company's growth plans and corporate governance activities. Mr.
Casey will also provide guidance and counsel to Mr. Longhi as he becomes
involved in policy decisions and the affairs of steel industry trade
associations.
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Jorge Johannpeter, Chairman of the Board of Gerdau Ameristeel, commented: "With
thoughtful diligence, the Board has assured the continuity of strong leadership
and stability for our organization. Mario Longhi is a valuable addition to our
management team and brings tremendous depth of international experience, proven
leadership skills and dedication to the principals of continuous cultural
improvement. We are excited to have Mario Longhi join our organization and look
forward to his professional contributions.

"We are also grateful for Mr. Casey's 11 years of dynamic leadership during a
period of challenging industry conditions and rapid growth for the Company. We
are confident that the combination of his continued involvement and Mario
Longhi's executive leadership ability will provide a seamless transition in the
Company's continuing growth. Their complementary strengths will assure
successful management of the complexities and competitive challenges of today's
global steel industry."

ABOUT 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, Gerdau Ameristeel primarily serves customers in the
eastern two-thirds of North America. The Company's products are generally sold
to steel service centers, steel fabricators, or directly to original equipment
manufacturers (or "OEMs") for use in a variety of industries, including
construction, automotive, mining, cellular and electrical transmission, metal
building manufacturing and equipment manufacturing. Gerdau Ameristeel's common
shares are traded on the Toronto Stock Exchange under the symbol GNA.TO and on
the New York Stock Exchange under the symbol GNA. For additional financial and
investor information, visit www.gerdauameristeel.com.

FOR MORE INFORMATION PLEASE CONTACT:
Phillip E. Casey
Chairman of the Board and Chief Executive Officer
Gerdau Ameristeel
(813) 207-2225
pcasey@gerdauameristeel.com