Vale makes its long term iron ore commercial contracts conditions flexible

Rio de Janeiro, April 20, 2009 – Companhia Vale do Rio Doce (Vale) clarifies it is making its long term iron ore commercial contracts conditions flexible. Currently, Vale is receiving 80% of the sales in cash and 20% will be received at a latter date while 2009 benchmark price settlement is not concluded.

Provisory sales prices are equivalent to 80% of 2008 benchmark prices and they will be adjusted afterwards, according to 2009 benchmark price negotiation outcome.

Vale