Q4 Production Results

Ferrexpo PLC
22 January 2008





                                  Ferrexpo plc
                                        
                             Production for Q4 2007


Production in Tonnes '000     Q4      Q3    Change    Q4    Change    FY       FY    Change
                             2007    2007      %     2006      %     2007     2006      %
-------------------------------------------------------------------------------------------
Iron Ore                    7,183   7,305     (2)   7,071      2   28,934   26,425      9

Concentrate                 2,664   2,695     (1)   2,661      0   10,652    9,695     10

Pellets from produced
concentrate                 2,159   2,184     (1)   2,243     (4)   8,793    8,149      8

         62% Fe             1,191   1,229     (3)   1,463    (19)   5,092    5,037      1

         65% Fe               968     955      1      780     24    3,701    3,112     19

Pellets Total               2,189   2,230     (2)   2,304     (5)   9,072    8,550      6

         62% Fe             1,221   1,275     (4)   1,515    (19)   5,371    5,429     (1)

         65% Fe               968     955      1      789     23    3,701    3,121     19
-------------------------------------------------------------------------------------------

Highlights

>  Operational efficiency improvements demonstrated in first three quarters of 
   the year continued in Q4 2007
>  Total pellet production in FY 2007 increased by 6%, with production of 
   pellets from produced ore up 8%
>  Production of iron ore in Q4 2007 increased by 2% compared to the equivalent 
   period in 2006
>  Seasonality and an increased focus on stripping works for the northern 
   extension of our open pit mine contributed to slight decline in Q4 2007 iron 
   ore volumes compared to Q3 2007
>  Iron ore concentrate output in FY 2007 was up 10%, in line with growth in 
   FY 2007 iron ore production
>  Focus was on pellet production from own produced ore in 2007, as third party 
   iron ore concentrate market remains tight
>  Moves to increase production of higher quality (65% Fe) pellets continued, 
   with this product now constituting 44% of total pellet production in Q4 2007, 
   and 40% in FY 2007
>  Production of 65% Fe pellets was up 23% in Q4 2007 compared to Q4 2006, and 
   up 19% in FY 2007
>  Average achieved price of pellets on a DAF/FOB basis in Q4 2007 decreased by 
   0.5% compared to Q3 2007, due to changes in sales mix
>  Average achieved price on a DAF/FOB basis for FY 2007 rose by 20.3% compared 
   to FY 2006
>  Our ongoing Business Improvement Programme continues to drive improvements in 
   production processes and management systems which are reflected in improved 
   equipment utilisation ratios

Viktor Lotous, Chief Operating Officer of Ferrexpo, stated:

'I am proud to say that Ferrexpo has significantly improved operational
efficiency and production output in 2007. We were determined to satisfy our
commitments to our customers in the face of the increasingly strong market
demand for iron ore pellets, and we have succeeded, managing to increase the
volumes of both ore mined and pellets produced over the year. In particular, the
significant increase in higher quality 65% Fe pellets in response to market
demand for this product is of note. Our ambitious production targets were
reached through a combination of investment in more efficient equipment together
with being able to successfully increase the efficiency of utilisation for
existing machinery. This is a result of the implementation in 2007 of
initiatives from our ongoing Business Improvement Programme which has also
enabled us to manage cost growth despite high inflation in Ukraine.'

For further information, please contact:

Ferrexpo:                                            [phone]
Gavin Mackay

Finsbury:                                            [phone]
Robin Walker
Alex Simmons

Ferrexpo Poltava Mining (Ukraine):                   [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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