Vale to make additional interest payment on convertibles due 2012

By Jennifer Chiou

New York, Jan. 18 - Vale SA said it will pay additional interest on its mandatorily convertible notes due June 15, 2012, series VALE and VALE.P, in the amount of R$0.77767 and R$0.899461 per note, respectively.

The additional interest will be paid on Jan. 31.

The additional interest payment was triggered when the company's board of directors approved a dividend distribution to shareholders.

The Bank of New York is the trustee for the convertibles.

Questions may be directed to the company at 55 21 3814-4540.

Vale is a mining company based in Rio de Janeiro.

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