Rio de Janeiro, April 01, 2015 - Vale S.A. (Vale) announces that it concluded the transaction with Cemig Geração e Transmissão S.A (Cemig GT) for the sale of 49% of its participation in the project of the hydroelectric plant of Belo Monte (UHE Belo Monte). This transaction is related to the agreement signed with Cemig GT announced in December 19, 2013.

After receiving all regulatory approvals and other customary precedent conditions related to the transaction, Vale transferred its 9% participation in Norte Energia S.A., company responsible for the construction, operation and exploration of UHE Belo Monte, to its subsidiary Aliança Norte Energia Participações S.A. (Aliança Norte). Afterwards, CEMIG GT acquired 49% of the shares of Aliança Norte, corresponding to an indirect participation of 4.41% in Norte Energia S.A.. The acquisition was done through a cash payment of approximately R$ 305 million.

The indirect participation of Vale in the equity of Norte Energia, now reduced to 4.59%, allows us the right to acquire 9% of the energy generated by the plant, through a long term contract signed in 2012. At the same time, this reduction in our participation is expected to reduce, in the same proportion, Vale´s guarantees related to the financing structure of the Belo Monte project.

As previously announced to the market in February 27 2015, Vale and Cemig GT created the joint venture Aliança Geração de Energia S.A through the incorporation of energy generation assets into the new company.

The transaction is consistent with Vale´s strategy of maximizing value for shareholders as it reduces capital expenditures requirements on non-core assets and increases flexibility for managing these assets in the future.

For further information, please contact:
+55-21-3814-4540

Rogério Nogueira: rogerio.nogueira@vale.com
André Figueiredo: andre.figueiredo@vale.com
Carla Albano Miller: carla.albano@vale.com
Fernando Mascarenhas: fernando.mascarenhas@vale.com
Andrea Gutman: andrea.gutman@vale.com
Bruno Siqueira: bruno.siqueira@vale.com
Claudia Rodrigues: claudia.rodrigues@vale.com
Marcelo Bonança Correa: marcelo.bonanca@vale.com
Marcelo Lobato: marcelo.lobato@vale.com
Marcio Loures Penna: marcio.penna@vale.com
Mariano Szachtman: mariano.szachtman@vale.com

This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F.



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