July 11, 2008

MMX Amapa Mineracao Ltda. Issues Public Announcement

In response to the press articles circulated this Friday concerning certain actions perpetrated by the Federal Police, MMX Amapa Mineracao Ltda. ("MMX Amapa"), a company of the EBX Group that concentrates the group's investment in the State of Amapa, makes the following comments:

1. The Federal Police visited MMX Amapa's premises in the State of Amapa and its headquarters in Rio de Janeiro this morning to carry out a search warrant issued by the Federal Court of the State of Amapa to obtain documents and information concerning an investigation over alleged offenses in the public auction for the concession of the Amapa Railway, which is part of the MMX Amapa System.

2. MMX Amapa denies all allegations concerning any transgression or offence regarding the aforesaid public tender that resulted in the granting by the local State Government of a concession for MMX Amapa to operate the Amapa Railway.

3. The Federal Police also credits MMX Amapa with the alleged offence of smuggling "gold mined in its mines in the State." MMX Amapa does not carry out any gold mining activity in the State of Amapa or in other region of the country and is not involve in any smuggling activity.

4. Before today's actions, MMX Amapa, having heard rumors concerning a federal investigation, made itself available to the local authorities for the purposes of providing information and cooperating with any ongoing investigations.

5. Subsequently, having learned of the Federal Court of Amapa's decision, MMX Amapa filed an appeal before the 1st Federal Circuit Court in Brasilia to obtain access to all investigation materials concerning the company. The Circuit Court ruled in favor of MMX Amapa's appeal, and the company is awaiting disclosure of the information by the local Federal Court.

6. MMX Amapa clarifies that there are no imprisonment orders or criminal charges against its executives or against any executive or employee of any other company belonging to the EBX Group.

7. The EBX Group hereby emphasizes its absolute intention to cooperate with any legal investigation regarding its businesses, and reaffirms the absolute transparent and legal way with which it has conducted its business in the state of Amapa, and anywhere else.

8. MMX Amapa further declares that it will employ all legal means to defend its assets and projects and the interest of its shareholders, who have proved to be true believers of the organization know as the EBX Group.

SOURCE: MMX Amapa Mineracao Ltda.