This offer is subjectto the validity of the LOI and appreciation of the offer and contract.

QUANTITY: 100.000 MT(one hundred and fifty thousand Metric Tons)

SALE PACKAGE: 01 (one) first shipment of100.000 MT in 45 days after L/C emission and possibility of long term contract.-

PACKING: Loose bulk

PRICE: CIF USD 99.00( Ninety eight US dollar) DMT.

IRON ORE CHEMICAL SPECIFICATION (% dry basisloading port)

                                    Expected                     Guaranteed

Fe                                64.5                             64.0

SiO2                            4.5                               6.8

Al2O3                         0.9                               1.7

P                                  0.06                             0.075

Mn                              0.05                             0.03

LO1                             1.50                             1.8

Moinsture                   6.4                               9.0

Size Distribution

+6.33 mm                    3.0                               5.0

+1.0 mm                      45.0                             40.0

-0,105 mm                   30.0                             40.0