Document:

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                                                                   EXHIBIT 4(i)e

                            COMMERCIAL METALS COMPANY

                              OFFICERS' CERTIFICATE

         Pursuant to the Indenture dated as of July 31, 1995 (the "Indenture")
by and between Commercial Metals Company, a Delaware corporation (the
"Company"), and The Chase Manhattan Bank, as trustee (the "Trustee"), and
resolutions adopted by the Pricing Committee of the Company's Board of Directors
as of July 30, 1997, this Officers' Certificate is being delivered to the
Trustee to establish the terms of a series of Securities in accordance with
Section 301 of the Indenture and to establish the form of the Securities of such
series in accordance with Section 201 of the Indenture.

         Capitalized terms used and not otherwise defined herein shall have the
meanings assigned to them in the Indenture.

A.       Establishment of Series of Securities Pursuant to Section 301 of the
         Indenture.

         The Company hereby establishes, pursuant to Section 301 of the
Indenture, a series of Securities that shall have the following terms:

         1. The series of Securities being authorized hereby shall bear the
title "6.80% Notes due August 1, 2007" (the "Notes").

         2. The aggregate principal amount of the Notes which may be
authenticated and delivered under the Indenture shall be limited to $50,000,000
(except for Notes authenticated and delivered upon registration of transfer of,
or in exchange for, or in lieu of, other Notes pursuant to Sections 304, 305,
306, 906 or 1107 of the Indenture and except for any Notes which, pursuant to
Section 303 of the Indenture, are deemed never to have been authenticated and
delivered under the Indenture).

         3. Interest on each Note shall be payable to the person in whose name
the Note (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest, which shall be January 15
or July 15 (whether or not a Business Day) as the case may be, next preceding
the relevant Interest Payment Date (as defined in the paragraph 5 hereof).

         4. The Notes shall mature on August 1, 2007, at which time the entire
principal amount of the Notes and all accrued but unpaid interest on the Notes
will be due and payable.

         5. Each Note shall bear interest at the annual rate of 6.80% commencing
on August 1, 1997. Interest on the Notes shall be payable semi-annually on
February 1 and August 1 in each year, commencing February 1, 1998 (each an
"Interest Payment Date"), subject to the provisions of Section 113 of the
Indenture, with such interest computed in accordance with Section 310 of the
Indenture.

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         6. Notes may not be redeemed by the Company at the option of the
Company prior to maturity.

         7. The Company shall have no obligation to redeem or purchase Notes at
the option of a Holder thereof or pursuant to any sinking fund or analogous
provisions.

         8. The Notes shall be issued only in minimum denominations of $100,000
and integral multiples of $1,000 in excess thereof.

         9. Payments of the principal of and any premium and interest on the
Notes shall be made in the currency of the United States of America.

         10. Neither the amount of payments of principal of, or any premium or
interest on, any Notes shall be determined by reference to an index.

         11. The Notes shall initially be issued as book-entry notes in the form
of one fully registered Global Security which will be deposited with, or on
behalf of The Depository Trust Company, as depositary (the "Depositary"), and
registered in the name of the Depositary's nominee. Beneficial interests in the
Notes will be shown on, and transfers thereof will be effected only through,
records maintained by the Depositary and its participants. Except as described
in Section 305 of the Indenture, Notes in definitive certificated form shall not
be issuable to any Person other than the Depositary and such Global Security may
not be exchanged for Notes registered in the name of, nor may any transfer of
such Global Security be registered to, any Person other than the Depositary or
its nominee.

         12. Payment of the principal of (and premium if any) and any interest
on the Notes shall be made at the office or agency of the Company maintained for
that purpose in New York, New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for the payment of
public and private debts; provided however that at the option of the Company
payment of interest may be made by check mailed on or prior to an Interest
Payment Date to the address of the Person entitled thereto as such address shall
appear in the Security Register.

         13. The entire principal amount of the Notes shall be payable upon
declaration of acceleration of the Maturity of the Notes pursuant to Section 502
of the Indenture.

         14. The Notes shall be unsecured and unsubordinated obligations of the
Company.

         15. The Notes will be issued only in fully registered form, without
coupons.

B.       Establishment of Form of Note Pursuant to Section 201 of the Indenture.

         The Company hereby establishes, pursuant to Section 201 of the
Indenture, that the Notes shall be substantially in the form attached as Exhibit
A hereto.

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C.       Compliance.

         The undersigned have read the pertinent sections of the Indenture
relating to the establishment of (i) a series of Securities, and (ii) the forms
of such series of Securities, including the related definitions contained
therein. The undersigned have examined the resolutions (i) adopted by the Board
of Directors of the Company on June 28, 1995 and July 21, 1997, and (ii) adopted
by the Pricing Committee of the Board of Directors of the Company on July 30,
1997. In the opinion of each of the undersigned, each of the undersigned has
made such examination or investigation as is necessary to enable each of the
undersigned to express an informed opinion as to whether or not the conditions
to the establishment of (i) a series of Securities, and (ii) the forms of such
series of Securities have been complied with. In the opinion of each of the
undersigned, such conditions have been complied with.

Dated: August 4, 1997

                                 COMMERCIAL METALS COMPANY

                                 By:  /s/ Lawrence A. Engels
                                    -------------------------------------------
                                      Lawrence A. Engels
                                      Vice President, Treasurer and Chief
                                      Financial Officer

                                 By:  /s/ David M. Sudbury
                                    -------------------------------------------
                                      David M. Sudbury
                                      Vice President, General Counsel
                                      and Secretary

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                                                                   Exhibit 4(i)f

         Unless this certificate is presented by an authorized representative of
The Depository Trust Company, a New York corporation (the "Depositary"), to the
Company or its agent for registration of transfer, exchange or payment, and any
certificate issued is registered in the name of Cede & Co. or in such other name
as is requested by an authorized representative of the Depositary (and any
payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of the Depositary), ANY TRANSFER, PLEDGE, OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein.

         UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL
SECURITIES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE
OF SUCH SUCCESSOR DEPOSITARY.

                            COMMERCIAL METALS COMPANY

                                   ----------

No. 1                                                               $100,000,000
                                                             CUSIP NO. 201723AC7

         Commercial Metals Company, a corporation duly organized and existing
under the laws of the State of Delaware (herein called the "Company", which term
includes any successor Person under the Indenture hereinafter referred to), for
value received, hereby promises to pay to CEDE & CO. or registered assigns, the
principal sum of One Hundred Million Dollars ($100,000,000) on February 15, 2009
and to pay interest thereon from February 23, 1999 or from the most recent
Interest Payment Date to which interest has been paid or duly provided for,
semiannually on February 15 and August 15 in each year, commencing August 15,
1999, at the rate of 6.75% per annum, until the principal hereof is paid or made
available for payment. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest, which shall be the February 1 or August 1 (whether or not a
Business Day), as the case may be, next preceding such Interest Payment Date.
Any such interest not so punctually paid or duly provided for will forthwith
cease to be payable to the Holder on such Regular Record Date and may either be
paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not less than 10
days prior to such Special Record Date, or be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange
on which the Securities of this series may be listed, and upon such notice as
may be required by such exchange, all as more fully provided in said Indenture.

         Payment of the principal (and premium if any) and any such interest on
this Security will be made at the office or agency of the Company maintained for
that purpose in New York, New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts; provided however that at the option of the Company
payment of interest may be made by check mailed on or prior to an Interest
Payment Date to the address of the Person entitled thereto as such address shall
appear in the Security Register.

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         Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

         Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

Dated: February 23, 1999                     COMMERCIAL METALS COMPANY

                                             By: /s/ Stanley A. Rabin
                                                 -------------------------------

ATTEST:

/s/ David M. Sudbury
------------------------------------

This is one of the Securities of the series
designated therein referred to in the
within-mentioned Indenture.

Dated: February 23, 1999

THE CHASE MANHATTAN BANK,
as Trustee

By: /s/ Authorized Signatory
   ----------------------------------

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         This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or more
series under an Indenture, dated July 31, 1995 (herein called the "Indenture"),
between the Company and The Chase Manhattan Bank, as Trustee (herein called the
"Trustee," which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This Security is one of the series designated on
the face hereof, limited in aggregate principal amount to $100,000,000.

         The Securities of this series are subject to redemption, in whole or in
part, at the option of the Company at any time at a redemption price equal to
100% of the principal amount of such Securities plus accrued interest to the
Redemption Date plus the excess, if any, of (i) the aggregate present value as
of the Redemption Date of each dollar of principal of such Securities being
redeemed and the amount of interest (exclusive of interest accrued to the
Redemption Date) that would have been payable in respect of such dollar amount
if such redemption had not been made, determined by discounting, on a semiannual
basis, such principal and interest at a rate equal to the sum of the Treasury
Yield (as defined below) plus 0.25% per annum, from the respective dates on
which such principal and interest would have been payable if such redemption had
not been made, over (ii) the aggregate principal amount of such Securities being
redeemed. In no event will such redemption price ever be less than 100% of the
principal amount of the Securities plus accrued interest to the Redemption Date.

         "Treasury Yield" means a rate of interest per annum equal to the weekly
average yield to maturity of United States Treasury Notes that have a constant
maturity that corresponds to the remaining term to maturity of the Securities
calculated to the nearest 1/12 of a year, determined as of the third Business
Day immediately preceding the applicable Redemption Date.

         Any redemption shall be made pursuant to the provisions of Article
Eleven of the Indenture. Notice of redemption will be mailed at least 30 days
but not more than 60 days before a Redemption Date to each Holder whose
Securities are to be redeemed, at such Holder's address appearing in the
Security Register. On and after the Redemption Date, interest will cease to
accrue on Securities or portions thereof called for redemption.

         In the event of redemption of this Security in part only, a new
Security or Securities of this Series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the
cancellation hereof.

         If an Event of Default with respect to Securities to this series shall
occur and be continuing, the principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture.

         The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of a majority in principal amount of the Securities at
the time Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the
Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the registration
of transfer hereof or in

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exchange hereof or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security.

         As provided in and subject to the provisions of the Indenture, the
Holder of this Security shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or
for any other remedy thereunder, unless such Holder shall have previously given
the Trustee written notice of a continuing Event of Default with respect to the
Securities of this series, the Holders of not less than 25% in principal amount
of the Securities of this series at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity and the Trustee
shall not have received from the Holders of a majority in principal amount of
Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60
days after receipt of such notice, request and offer of indemnity. The foregoing
shall not apply to any suit instituted by the Holder of this Security for the
enforcement of any payment of principal hereof or any interest hereof on or
after the respective due dates expressed herein.

         No reference herein to the Indenture and no provision of this Security
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of and any premium and
interest on this Security at the times, place and rate, and in the coin or
currency, herein prescribed.

         As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of this Security is registerable in the Security
Register, upon surrender of this Security for registration of transfer at the
office or agency of the Company in any place where the principal of and any
premium and interest on this Security are payable, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one or more
Securities of this Series and of like tenor, of authorized denominations and for
the same aggregate principal amount, will be issued to the designated transferee
or transferees.

         The Securities of this series are issuable only in registered form
without coupons only in minimum denominations of $100,000 and any integral
multiple of $1,000 in excess thereof. As provided in the Indenture and subject
to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series
and of like tenor of a different authorized denomination, as requested by the
Holder surrendering the same.

         No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

         Prior to due presentment of this Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

         All terms used in this Security which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

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