Companhia Vale do Rio Doce, in compliance with a determination of ’s Comissão de Valores Mobiliários, informd that it is negotiating with Asian clients the convergence of reference prices for iron ore to the same level of those charged to European clients.

     The release said that “Currently, reference prices for Asian clients are 11.0% to 11.5% lower than prices for Europe , depending on the type of iron ore.”

     Vale highlighted that this negotiation is not concluded and there is no guarantee that it will be successfully concluded.

     It added that “If the price convergence is implemented, it will imply in an estimated revenue increase smaller than 3% of Vale’s total revenue for the twelve month period ended at June 30th 2008 of USD 35.5 billion.”