RIO Rio Tinto Plc

Vale overseas commences registered exchange offer Rio de Janeiro, Brazil, October 27 /PRNewswire/ -- Companhia Vale do Rio Doce (CVRD) today announced that its wholly owned subsidiary Vale Overseas Limited (Vale Overseas) has commenced an offer to exchange up to US$300 million aggregate principal amount of Vale Overseas' registered 9.0% Guaranteed by CVRD Notes due 2013 (the "New Notes") for any and all of Vale Overseas' outstanding unregistered 9.0% Guaranteed by CVRD Notes due 2013 (the "Old Notes"). The expiration date for the exchange offer will be 5:00 p.m., Eastern Standard Time (EST) on November 24, 2003, unless extended. The New Notes are substantially identical to the Old Notes, except that the New Notes have been registered under the Securities Act of 1933, as amended, and will not bear any legend restricting their transfer. The purpose of the exchange offer is to allow holders that meet the conditions described in the prospectus to receive New Notes that may be resold in the United States without further registration under the Securities Act. The terms of the exchange offer and other information relating to Vale Overseas and CVRD are set forth in a prospectus dated October 27, 2003. Copies of the prospectus and the related letter of transmittal may be obtained from the exchange agent -- JP Morgan Chase Bank, 4 New York Plaza, 15th Floor, New York, New York 10004, Attn: Institutional Trust Services, telephone +1 (212) 623-5175, fax number +1 (212) 623-6214. The prospectus is also available on CVRD's web site: http://www.cvrd.com.br/ . This announcement is neither an offer to sell nor a solicitation of an offer to buy or exchange the New Notes or the Old Notes. The exchange offer is made solely by the prospectus dated October 27, 2003. Web site: http://www.cvrd.com.br/ DATASOURCE: Companhia Vale do Rio Doce Roberto Castello Branco, +011-55-21-3814-4540, or , or Andreia Reis, +011-55-21-3814-4643, or , or Barbara Geluda, +011-55-21-3814-4557, or , or Daniela Tinoco, +011-55-21-3814-4946, or , or Eduardo Mello Franco, +011-55-21-3814-9849, or , or Rafael Azevedo, +011-55-21-3814-4700, or , all of Companhia Vale do Rio Doce

Copyright