SOURCE: MMX Mineracao e Metalicos S.A.

July 16, 2008 19:38 ET

MMX Mineração e Metálicos S.A. Makes Public Announcement

President of Brazil Stated That the Federal Police Operation in the House of Eike Batista Was an Example of Abuse of Authority, According to a Major Brazilian Newspaper

RIO DE JANEIRO, BRAZIL--(Marketwire - July 16, 2008) - As reported by one of the most respected Brazilian newspapers, O Estado de São Paulo, yesterday night, the President of Brazil, Mr. Luiz Inácio Lula da Silva, hosted a meeting with the President of the Supreme Court, Chief Justice Gilmar Mendes, and also with the Minister of Justice and the Defense Minister, Messrs. Tarso Genro and Nelson Jobim. The first page of the O Estado de São Paulo comments that: "[President] Lula mentioned as a recent example of abuse the operation by the Federal Police in the house of the entrepreneur Eike Batista last Friday."

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MMX Mineração e Metálicos S.A.

Nelson José Guitti Guimarães

Chief Financial and Investor Relations Officer