6-K

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                                    FORM 6-K

                     U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                        REPORT OF FOREIGN PRIVATE ISSUER

                   PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE

                         SECURITIES EXCHANGE ACT OF 1934

                             dated December 13, 2002

                         Commission File Number 1-14878

                                   GERDAU S.A.

                    (Exact Name as Specified in its Charter)

                                       N/A

                       (Translation of Registrant's Name)

                                Av. Farrapos 1811
             Porto Alegre, Rio Grande do Sul - Brazil CEP 90220-005
                    (Address of principal executive offices)


     Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.

         Form 20-F  [X]    Form 40-F _____


     Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):______

     Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):______

     Indicate by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

         Yes _____         No  [X]


     If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): Not applicable.



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                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused the Report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Date:  December 13, 2002

                                   GERDAU S.A.




                                   By:/s/ Osvaldo  Burgos Schirmer
                                      ---------------------------------
                                      Name:   Osvaldo Burgos Schirmer
                                      Title:  Chief Financial Officer





                                  EXHIBIT INDEX


Exhibit                   Description of Exhibit

1                         Press release dated December 2, 2002

EX-1

                                                                       Exhibit 1


                       [GRAPHIC OMITTED][GRAPHIC OMITTED]

                                  RELEVANT FACT


GERDAU S.A., in compliance with the terms of CVM's Regulation n(degree). 358 of
January 03, 2002 communicates that beginning on December 2, 2002 the "Depositary
Receipts - DR" Program of preferred shares issued by the Company in Spain will
be implemented after the approval from the Comissao de Valores Mobiliarios -
CVM, from the Brazilian Central Bank - Banco Central do Brasil - BACEN, and
after being included in the "Latibex" list.


The Program has the following characteristics:

1.   Type and class of the shares: preferred.

2.   Ratio: each DR corresponds to 1,000 (one thousand) preferred shares.

3.   Custodian Institution: Companhia Brasileira de Liquidacao e Custodia S.A. -
     CBLC.

4.   Depository Institution: Servicio de Compensacion y Liquidacion Valores -
     SCL.

5.   Market Specialist: Santander Central Hispano.

6.   Approvals: CVM - Official Notice/CVM/SRE/RDR/2002/005 dated of May 23, 2002

                BACEN - Register RDE R0200049 of November 21, 2002.

7.   The shares will be traded under the code XGGB.

The operating procedures for the issuing and canceling of the DRs may be
obtained at the Companhia Brasileira de Liquidacao e Custodia - CBLC, located on
Rua XV de Novembro, 275 - 6th floor - ZIP CODE 01013-001 - Sao Paulo-SP.


                        Rio de Janeiro, December 2, 2002.

                               Osvaldo B. Schirmer
                            Executive Vice-President
                         Director of Investor Relations