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United States
Securities and Exchange Commission

Washington, D.C. 20549


Report of Foreign Private Issuer
Pursuant To Rule 13a-16 or 15d-16
of the
Securities Exchange Act of 1934

For the month of

December 2003

Valley of the Rio Doce Company

(Translation of Registrant’s name into English)

Avenida Graca Aranha, No. 26
20005-900 Rio de Janeiro, RJ, Brazil
(Address of principal executive office)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

(Check One)  Form 20-F  [X]     Form 40-F  [   ]

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

(Check One)  Yes  [  ]     No  [X]

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b). 82- .)

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     This current report on Form 6-K is hereby incorporated by reference into the Registration Statement on Form F-4 of Vale Overseas Limited, File No. 333-109610, and the Registration Statement of Companhia Vale do Rio Doce, File No. 333-109610-01.



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Shelf Registration with the SEC

Rio de Janeiro, December 02, 2003 – Companhia Vale do Rio Doce (CVRD) announced today that it has filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) with respect to US$ 2 billion in debt securities. Once the registration statement is declared effective, CVRD may publicly offer these securities from time to time in one or more offerings at prices and terms to be determined at the time of each offering.

The registration statement will provide CVRD with added flexibility and efficiency in accessing the public debt markets in the United States. Unless otherwise specified in an applicable prospectus supplement, CVRD will use the proceeds of any offering that are made under the shelf registration statement for general corporate purposes.

At the time any debt securities covered by the registration statement are offered for sale, a prospectus supplement will be prepared and filed containing specific information about the terms of any such offering. Copies of the shelf registration statement, and when available, any written prospectus, may be obtained from CVRD at Avenida Graça Aranha, No. 26, 20030-900 Rio de Janeiro, RJ, Brazil, Tel: +55 21 3814 4540.

A shelf registration statement relating to the debt securities has been filed with the SEC but has not yet become effective. These debt securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For further information, please contact:
Roberto Castello Branco: +55-21-3814-4540
Barbara Geluda: +55-21-3814-4557
Daniela Tinoco: +55-21-3814-4946
Eduardo Mello Franco: +55-21-3814-9849
Rafael Azevedo: +55-21-3814-4700
Rafael Campos: +55-21-3814-4353

This press release may contain statements that express management’s expectations about future events or results rather than historical facts. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements, and CVRD cannot give assurance that such statements will prove correct. These risks and uncertainties include factors: relating to the Brazilian economy and securities markets, which exhibit volatility and can be adversely affected by developments in other countries; relating to the iron ore business and its dependence on the global steel industry, which is cyclical in nature; and relating to the highly competitive industries in which CVRD operates. For additional information on factors that could cause CVRD’s actual results to differ from expectations reflected in forward-looking statements, please see CVRD’s reports filed with the Brazilian Comissão de Valores Mobiliários and the U.S. Securities and Exchange Commission.

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: December 3, 2003   COMPANHIA VALE DO RIO DOCE
    By:   /s/ Fabio de Oliveira Barbosa
        Fabio de Oliveira Barbosa
        Chief Financial Officer