SOURCE: MMX

June 19, 2008 19:30 ET

MMX Shareholders' Meeting Approves Partial Split-Up

RIO DE JANEIRO, BRAZIL--(Marketwire - June 19, 2008) - MMX MINERAÇÃO E METÁLICOS S.A. ("Company"), in accordance with the provisions of article 157, paragraph four of Law No. 6,404/76 and the Brazilian Securities and Exchange Commission Rules (Instruções CVM) No. 319/99 and 358/02, hereby informs that its shareholders have approved, on the Ordinary and Extraordinary Shareholders' Meeting held on June 19, 2008 (the "Meeting"), the partial split-up of the Company ("Partial Split-Up"), with the allocation of portions of its net worth to IronX Mineração S.A., a publicly-held corporation, duly incorporated and existent under the laws of the Federative Republic of Brazil, headquartered in the city of Rio de Janeiro, State of Rio de Janeiro, on Praia do Flamengo, No. 154, suite 501 (part), enrolled with the Companies' Registry (CNPJ/MF) under No. 09.295.979/0001-47 ("IronX") and to LLX Logística S.A., a publicly-held corporation, duly incorporated and existent under the laws of the Federative Republic of Brazil, headquartered in the city of Rio de Janeiro, State of Rio de Janeiro, on Praia do Flamengo, No. 154, 4th floor (part), enrolled with the Companies' Registry (CNPJ/MF) under No. 08.741.499/0001-08 ("LLX Logística"), in accordance with the terms and conditions described in the Public Announcement published by the Company on April 8, 2008, as well as in the Protocol for the Partial Split-Up of the Company ("Protocol"), which was also approved by the shareholders in the above mentioned Meeting.

The Company's shares shall continue to be traded at Bovespa ("Bovespa") under the negotiation code MMXM3, listed in the Novo Mercado segment of Bovespa, without taking into effect the Partial Split-Up, for the purposes of trading of the Company's shares, until the end of the term for exercise of the shareholders' withdrawal right, after which the Company shall publish a Notice to the Market ratifying the terms of the Partial Split-Up, regardless of the number of shareholders who exercise the withdrawal right. The above mentioned Notice to the Market shall also inform the date in which the IronX and LLX's shares will begin to be traded separately at Bovespa, also in the Novo Mercado segment.

1. Withdrawal Right; Reimbursement Value

The amount to be reimbursed to the dissenting shareholders, in accordance with the Company's shareholding position of April 8, 2008, shall be calculated based on the net worth value of the Company's shares, in accordance with the balance sheet approved by the Meeting held on the date hereof, equivalent to R$ 5.954083443 per share.

As indicated above, the withdrawal right may only be exercised by the Company's shareholders as of the closing of the trading session of April 8, 2008, date in which the Public Announcement regarding the Partial Split-Up was published, pursuant to the terms of the paragraph one of article 137 of Law No. 6,404/76.

The dissenting shareholders shall, within the thirty (30) days period following June 20, 2008, date in which the Meeting was published in the Official Gazette and the newspaper Valor Econômico, pursuant to item IV of article 137 of Law No. 6,404/76, send a written notice with acknowledgement of receipt addressed to one of the securities specialized branches of Banco Itaú S.A. listed below. Any further information may be obtained by telephone to Investfone Banco Itaú S.A. (shareholders' call center) - No. (55 11) 5029-7780.

1. Securities Specialized Branch of Brasília
SCS Quadra 3 - Edifício D'Angela, 30, Bloco A, Sobreloja
Centro - Brasília
CEP: 70300-500

2. Securities Specialized Branch of Belo Horizonte
Av. João Pinheiros, 195, Térreo
Centro - Belo Horizonte/MG
CEP: 30130-180

3. Securities Specialized Branch of Curitiba
Rua João Nogueira, 65, sobreloja
Centro - Curitiba/PR
CEP: 80010-200

4. Securities Specialized Branch of Porto Alegre
Rua Sete de Setembro, 746, Térreo
Centro - Porto Alegre/RS
CEP: 90010-190

5. Securities Specialized Branch of Rio de Janeiro
Rua Sete de Setembro, 99, subsolo
Centro - Rio de Janeiro/RJ
CEP: 20050-005

6. Securities Specialized Branch of São Paulo
Rua Boa Vista, 176, 1 degrees subsolo
Centro - São Paulo/SP
CEP: 01014-000

7. Securities Specialized Branch of Salvador
Av. Estados Unidos (Edifício Sesquicentenário), 50, 2 degrees andar
Comércio - Salvador/BA
CEP: 40010-120



Nelson José Guimarães Guitti
Chief Financial Officer and Investor Relations Officer