OREANDA-NEWS. March 30, 2011. Vale S.A. (Vale) informs that the injunction which discusses the controlled foreign companies profit – as previously described in CVM annual disclosure report and Form 20-F of 2009 filed in 2010 – was decided by federal regional court (Tribunal Regional Federal da 2 Regiao – TRF2).

Although this decision was unfavorable to Vale, the leading case in appreciation by supreme federal court (Supremo Tribunal Federal – STF) remains tied. Recently the supreme justice court (Superior Tribunal de Justica – STJ) also began a trial regarding this matter with favorable votes to the taxpayers.

Vale will present the necessary appeals to higher courts in order to suspend this decision. The amounts assessed remain suspended.