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Companhia Vale do Rio Doce (VALE)

Tuesday, January 22nd, 2008

Companhia Vale do Rio Doce (VALE) is constantly analyzing options for organic growth and/or acquisitions of assets and companies as part of its continuous search for shareholder value creation.
In an environment of a global consolidation of the mining industry, VALE has been maintaining a dialogue with Xstrata Plc management. At the moment, these discussions had not produced any material result yet.
On the other hand, VALE continues to analyze several other options, involving different mining assets. Similarly, these negotiations did not generate any concrete result yet.
Simultaneously, VALE has been exploring with banks several ways to support its growth initiatives in the event it decides to effectively pursue one of the above-mentioned options.
VALE considers that the current conditions prevailing in the global financial markets may constrain the realization of a major strategic move. Therefore, it will keep the prudential posture that has been one of the hallmarks of its management over the years.
VALE informs that any decision on acquisitions requires the approval of its corporate governance bodies and it will be publicly announced.

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