MMX: Board Meeting's Main Decisions

RIO DE JANEIRO, BRAZIL -- (MARKET WIRE) -- 04/07/08 -- The members of the Board of MMX Mineracao e Metalicos S.A. ("MMX" or the "Company") (BOVESPA: MMXM3) (TSX: XMM), at a Meeting held today, April 7th, 2008, at 3:00 pm at the headquarters of the Company, located at Praia do Flamengo 154, 5th Floor, Flamengo, City and State of Rio de Janeiro, have decided the following:

(i) To ratify the signature by the Company of the "Indemnities Agreement" celebrated with LLX Logistica, IronX and Anglo American on March 31st, 2008.

(ii) To approve the Protocol and Justification of the Company's Partial Split-up, with the allocation of portions of the net worth of MMX to IronX and LLX Logistica, signed on March 31st.

(iii) To approve the Appraisal Report of the portions of MMX's net worth to be allocated to IronX and LLX Logistica, prepared by KPMG Auditores Independentes.

(iv) To authorize the Board of Officers to call the Extraordinary Shareholders' Meeting to decide upon the partial split-up of the Company (to take place on a date to be defined).

(v) To accept the resignation of MMX's Officers Luiz Rodolfo Landim Machado and Paulo Carvalho de Gouvea, who were then recommended to be appointed to become members of MMX's Board of Directors, whose appointment will be, of course, subject to approval by MMX's Shareholders gathered at the relevant Shareholders' Meeting.

(vi) To elect MMX's Officer Joaquim Martino Ferreira, as the Executive President.

(vii) To elect MMX's Chief Financial Officer Nelson Jose Guitti Guimaraes, as Investor Relations Officer.

(viii) To approve the reelection of the following members of the Company's Board of Officers, for a 1-year term: Eike Fuhrken Batista as CEO; Joaquim Martino Ferreira as Executive President and Mining Officer; Adriano Jose Negreiros Vaz Netto as Officer; Dalton Nose as Officer; Jose Luiz Amarante Araujo as Commercial Officer; Nelson Jose Guitti Guimaraes as Chief Financial and Investor Relations Officer.

The Members of the Board furthermore expressed their gratitude to the Officers that resigned for their relevant work and devotion to the Company, as well as for their enthusiasm in accomplishing the tasks entrusted to them.

The Executive President elected, Joaquim Martino, who shall accumulate the function of Mining Officer of the Company, was the Officer responsible for the mining department of MMX's three Systems -- Amapa, Corumba and Minas-Rio, with a highlight in the Amapa mining project, implemented in a record time. He has 27 years of experience in implementing and running industrial projects, including working as Superintendent for the Casa de Pedra Mine (CSN), Pelletizing and Metals Officer of Companhia Vale do Rio Doce (CVRD), Officer of Carajas Mine and of the Ponta da Madeira Port.

The Investor Relations Officer elected, Nelson Guitti, shall accumulate as Chief Financial Officer, function that he holds since March 2007. During his career of 24 years with the Petrobras System, he was CFO of Petrobras Distribuidora S.A. and Strategy and Planning Officer of Petrobras Gas S.A. - GASPETRO. His experience in this area qualifies him to carry out the function for which he was elected with excellence.

2008-04-07 21:29:44 0330139 MARKETWIRE