Vale approves merger of MOP

Rio de Janeiro, November 13, 2008 - Companhia Vale do Rio Doce (Vale) announces that, at a meeting held today, its Board of Directors approved the merger of Vale wholly owned subsidiary Mineração Onça Puma S.A. (MOP) into Vale.

The consolidation of MOP into Vale is justified for three reasons: (a) simplifying corporate structure; (b) improving resource allocation; and (c) reducing costs. At the same time, it abides by the undertakings with respect to the management of the nickel business that were assumed vis-à-vis the Canadian Government pursuant to the Investment Canada Act upon the occasion of the acquisition of Inco Ltd..

Therefore, the proposal will be submitted to the approval of Vale's shareholders at a meeting to be announced opportunely.

For further information, please contact:

+55-21-3814-4540

Roberto Castello Branco: roberto.castello.branco@vale.com

Alessandra Gadelha: alessandra.gadelha@vale.com

Marcus Thieme: marcus.thieme@vale.com

Patricia Calazans: patricia.calazans@vale.com

Roberta Coutinho: roberta.coutinho@vale.com

Theo Penedo: theo.penedo@vale.com

Tacio Neto: tacio.neto@vale.com

This press release may include declarations that present Vale's expectations in relation to future events or results. All declarations, when based upon future expectations and not on historical facts involve various risks and uncertainties. Vale cannot guarantee that such declarations will come to be correct. These risks and uncertainties include factors related to the following: (a) countries where we operate, mainly Brazil and Canada; (b) global economy; (c) capital markets; (d) iron ore and nickel businesses and their dependence upon the global steel industry, which is cyclical by nature; (e) high degree of global competition in the markets which Vale operates. To obtain further information on factors that may give origin to results different from those forecasted by Vale, please consult the reports filed with the Brazilian Securities and Exchange Commission (CVM), the Autorité des Marchés Financiers (AMF), and with the U.S. Securities and Exchange Commission (SEC), including the most recent Annual Report - Vale Form 20F and 6K forms.

Copyright Hugin

The appendixes relating to the press release are available on:

http://www.hugingroup.com/documents_ir/PJ/CO/2008/145961_88_Z17G_1113MOPi.pdf

Information réglementée :

Type : Nouvelle information

Thème(s):

Communiqués en période d'offre publique d'acquisition - Autres communiqués

This announcement is originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

[CN#145961]

Publié le 13 novembre 2008 Copyright © 2008 CompanyNews