3rd Qtr Production Report

Ferrexpo PLC
01 November 2007


                                                                               

1 November 2007

Production for 3Q 2007

Production in         Q3       Q2   Change    Q3   Change    YTD     YTD   Change
Tonnes '000          2007     2007    %     2006     %      2007    2006     %
Iron Ore             7,305   7,306   (0)    6,832    7     21,751  19,354   12
Concentrate          2,695   2,668    1     2,559    5      7,988   7,035   14
Pellets Total        2,230   2,324   (4)    2,323   (4)     6,882   6,246   10
      62% Fe         1,275   1,360   (6)    1,554   (18)    4,150   3,915    6             
      65% Fe           955     964   (1)      769    24     2,732   2,332   17                               
incl. pellets from  
produced concentrate 2,184   2,233   (1)    2,168     2     6,634   5,906   13         
      62% Fe         1,230   1,268   (2)    1,399   (11)    3,902   3,583   10
      65% Fe           954     964   (1)      769    24     2,732   2,323   18


Pricing for 3Q 2007

+------------------+------+------+------+------+------+-------+-------+------+
|   Pricing $/t    |  Q3  |  Q2  |Change|  Q3  |Change|  YTD  |  YTD  |Change|
|                  +------+------+------+------+------+-------+-------+------+
|                  | 2007 | 2007 |  %   | 2006 |  %   | 2007  | 2006  |  %   |
+------------------+------+------+------+------+------+-------+-------+------+
|Average achieved  |75.24 |74.15 |  2   |64.56 |  17  | 71.92 | 60.76 |  18  |
|price (DAF/FOB)   |      |      |      |      |      |       |       |      |
+------------------+------+------+------+------+------+-------+-------+------+


Highlights


> Continuing our strong performance in Q2 2007, our YTD production
remains well above 2006 levels across our product range

> Iron ore production was flat versus Q2 2007, but increased by 7% over
Q3 2006

> Concentrate output continues to demonstrate growth, in line with iron
ore production (up 14% in 2007 YTD versus the comparable period in 2006)

> The production of higher quality (65% Fe) pellets as a proportion of
total production (43% now versus 33% in Q3 2006) has grown significantly

> This increase in average pellet quality together with decreased
purchases of third party iron ore concentrate as a result of tight market supply
conditions resulted in the slight (4%) quarter-on-quarter decline in total
pellet production in Q3 2007 versus Q2 2007

> The Business Improvement Programme is progressing well with ongoing
efficiency improvements being seen across our operations. In addition, the
ordering of 6 new drag lines in the quarter in preparation for stripping at our
Yeristovskoe deposit is just one part of our commitment to developing the rest
of our asset over the coming years

> Ferrexpo has seen overall pellet production for the year grow by 10%
over the comparable period in 2006

> Average achieved prices are up 18% versus the comparable period last
year, reflecting benchmark pricing increases, as well as changes to our product
mix and to the mix of geographies into which we sell our pellets

> Prices are also up 2% versus Q2 due to changes in product and
geographic sales mix


Viktor Lotous, Chief Operating Officer of Ferrexpo, stated:


'Ferrexpo Poltava Mining has continued to meet the increasing market demand for
higher quality iron ore pellets by significantly increasing our production of
65% Fe pellets as a proportion of total production in the first three quarters
of 2007. Demand for pellets remains high in our core markets and our business
improvement programme will ensure that we are able to supply more and higher
quality product to meet market requirements in the coming years.'





For further information, please contact:


Ferrexpo:                                 [phone]
Gavin Mackay


Finsbury                                  [phone]
Robin Walker
Alex Simmons


Ferrexpo Poltava Mining                   [phone]
Alexander Dovgalev


Notes to Editors:


Ferrexpo is a Swiss headquartered resources company with assets in Ukraine,
principally involved in the production and export of iron ore pellets, used in
producing steel. Current output is over 9 million tonnes, approximately 85% of
which is exported to steelmakers around the world. The Group is currently
undertaking a significant growth programme and listed on the main market of the
London Stock Exchange in June 2007 under the ticker FXPO. For further
information please visit www.ferrexpo.com.





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