RIO DE JANEIRO, BRAZIL--(MARKET WIRE)--Oct 3, 2008 -- In light of recent market events, MMX Mineração e Metálicos S.A. ("MMX" or the "Company") (BOVESPA: MMXM3) (Toronto:XMM.TO - News) hereby communicates to the market that:

 
1. The Company, in the ordinary course of its business and always in
   compliance with the best corporate governance practices, contracts
   defensive hedging instruments (derivatives) only with non-speculative
   purposes;

2. Once MMX's investment plan includes Capital Expenditures and operating
   costs denominated in Brazilian currency (Reais) and because 100% of the
   Company's revenues is denominated or indexed in U.S. dollars, the
   Company contracts hedging instruments for the protection of its
   financial assets and liabilities against currency exchange fluctuation;

3. The Company's hedging policy has a conservative nature, and was
   approved by MMX's independent Audit Committee, which closely oversees
   all hedging transactions on a monthly basis.  The contracting of
   hedging transactions is made only by means of simple derivative
   instruments ("plain-vanilla"), without any leverage whatsoever.  MMX's
   hedging policy explicitly prohibits the engagement by the Company in
   directional trades with a speculative nature.

Finally, the Company reinforces that it provides detailed and transparent reporting of the financial results of its hedging transactions in its quarterly and annual regulatory filings results, in strict compliance with generally accepted accounting principles of Brazil, United States and Canada.

For additional information, please contact ri@mmx.com.br

 
MMX Mineração e Metálicos S.A.

Nelson José Guitti Guimarães
Chief Financial and Investor Relations Officer