We believe that the quality of work relationships defines a company's efficiency levels and the quality of life of its employees.

Applying this policy, our human resources management emphasizes entrepreneurial and creative work in an environment based on the delegation of responsibilities and the transparency that allows employees to achieve their personal and professional goals.

The positive organizational environment can be seen through the Company's annual opinion survey. With 94% of Gerdau employees in Brazil participating in 2003, general satisfaction rates increased from 87% to 89%. The favorability index, which counts the positive responses, increased from 75% to 77%.

Expanded production levels in Brazil and the contracting of service providers contributed to a 10% increase in Gerdau Group staff numbers this year, from 13,000 to 14,300 people.

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