Gerdau Ameristeel and United Steelworkers union reach agreement at Whitby, Canada mill

    TAMPA, FL, April 2 /CNW/ - Gerdau Ameristeel Corporation (NYSE:   GNA; TSX:
GNA) today announced it has reached an agreement with the USW at Gerdau
Ameristeel's Whitby, Canada mill. The new contract is effective February 28,
2007, and expires on February 27, 2010.
    "The Company is pleased that another contract has been completed with the
United Steelworkers. While there are three remaining negotiations at Calvert
City Kentucky; Joliet, Illinois and Sand Springs, Oklahoma, the company
continues to work to find common ground to settle remaining agreements at
these facilities," said Jim Rogers, Gerdau Ameristeel's Vice President of
Human Resources.

    About Gerdau Ameristeel

    Gerdau Ameristeel is the second largest minimill steel producer in North
America with annual manufacturing capacity of over 9.0 million tons of mill
finished steel products. Through its vertically integrated network of 17
minimills (including one 50%-owned joint venture minimill), 17 scrap recycling
facilities and 51 downstream operations (including seven joint venture
fabrication facilities), Gerdau Ameristeel serves customers throughout North
America. The Company's products are generally sold to steel service centers,
to 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

    %SEDAR: 00000593E          %CIK: 0001203748

For further information:

For further information: Tom J. Landa, Vice President and Chief
Financial Officer, Gerdau Ameristeel, (813) 207-2300

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