Gerdau Ameristeel and United Steelworkers Union reach agreement with Sand Springs, Oklahoma and Calvert City, Kentucky Mills



    TAMPA, FL, Oct. 2 /CNW/ - Gerdau Ameristeel Corporation (NYSE:   GNA; TSX:
GNA.TO) announced today that it has reached agreements with the United Steel
Workers (USW) at Gerdau Ameristeel's Sand Springs, Oklahoma and Calvert City,
Kentucky steel mills. The effective date of the Sand Springs contract is
September 28, 2007 and it runs through March 2, 2011 and the effective date of
the Calvert City agreement is October 1, 2007 and it runs through April 22,
2011.
    "Gerdau Ameristeel is very pleased that we were able to complete these
last two contracts with the USW, said Terry Danahy, Vice President and Chief
Human Resources Officer, Gerdau Ameristeel. "We have settled eight contracts
this year and now all USW union locations in North America have agreements in
effect."

    About Gerdau Ameristeel

    Gerdau Ameristeel is the second largest mini-mill steel producer in North
America with annual manufacturing capacity of approximately 12 million tons of
mill finished steel products. Through its vertically integrated network of 19
mini-mills (including one 50% owned joint venture mini-mill), 19 scrap
recycling facilities and 54 downstream operations, Gerdau Ameristeel serves
customers throughout North America. The company's products are generally sold
to steel service centers, steel 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. Gerdau Ameristeel 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 further information:

For further information: Investor Relations, Barbara R. Smith, Vice
President and Chief Financial Officer, Gerdau Ameristeel, (813) 319-4324,
BAsmith@gerdauameristeel.com; Media Relations, Steven Hendricks, Director,
Corporate Communications, (813) 319-4858, SThendricks@gerdauameristeel.com

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GERDAU AMERISTEEL CORPORATION

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