Vale signs MOU with KEXIM

Rio de Janeiro, November 19, 2008 - Companhia Vale do Rio Doce (Vale) informs that it has signed a memorandum of understanding (MOU) with the Export-Import Bank of Korea (KEXIM), the Korean official credit agency for export and import financing. The MOU aims at providing financial support to Vale´s projects that will contribute to a stable supply of mineral resources to the Korean market, enhancing, at the same time, the relationship between Vale and Korean companies.

As previously announced, Vale already has the availability of long-term credit lines contracted with official credit institutions of Brazil and Japan. These lines were not utilized yet and are dedicated to financing our project pipeline, strengthening our capability to generate shareholder value.

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.

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Publié le 19 novembre 2008 Copyright © 2008 CompanyNews