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CVRD Inco changes name to Vale Inco

TORONTO, Ontario, November 29, 2007 - CVRD Inco Limited announced today that
it will now be known as Vale Inco Limited. The change is aligned with the
re-branding of its parent company, Companhia Vale do Rio Doce, to Vale,
announced earlier today in Rio de Janeiro. ‘Vale’ is pronounced (vah-lay) and
literally means “valley”.

“Our name change is the culmination of many months of work to realign our
corporate identity, and to signify new beginnings, new opportunities and a
positive outlook for the future,” said Vale Inco’s President and CEO, Murilo
Ferreira. “As a mining company, ‘Vale’ reminds us of both our dependence on
the earth’s riches and our important role as stewards of the natural
environment. I am very proud that ‘Inco’ remains in our name as an important
sign of the pride we have in our heritage as a worldwide leader in nickel
production.”

The Company says a similar re-branding will unfold in the weeks and months
ahead at its subsidiary companies, including Canadian-based Voisey’s Bay
Nickel Company, which is adopting the name Vale Inco Newfoundland and
Labrador Limited. While the name and visual identity of the company has
changed, Mr. Ferreira confirmed that Vale Inco is still the very recognizable
company known to its employees and communities across the world.

“Vale Inco is committed to pursuing profitable and responsible growth that
benefits all our stakeholders – employees, customers and the communities
where we operate,” said Mr. Ferreira. “Together, we are charting a course for
the future that will see us secure our position as the leading nickel company
in the world.”

About Vale Inco
Vale Inco is a leading producer of nickel, copper, cobalt and precious
metals, based in Toronto, Canada. Vale Inco is a wholly-owned subsidiary of
Vale (NYSE: RIO), one of the world’s largest mining companies. Vale Inco has
more than 12,000 employees worldwide and had net sales last year of over US$8
billion. Vale Inco is committed to the pursuit of sustainable growth by
operating with respect for the natural environment and being an ethically and
socially responsible company.

CONTACT INFORMATION
Cory McPhee
(416) 294-9124