Contract Price Settlements

Ferrexpo PLC
17 April 2008

17 April 2008
                        2008 Contract Price Settlements

Ferrexpo plc ('Ferrexpo' or the 'Company') is pleased to announce that it has
reached price settlements with an initial group of its framework contract
customers in its core markets representing more than 50 percent of expected 2008
sales. These agreed prices for iron ore pellets represent an average increase of
more than 90 percent over the average price achieved by the Company for these
customers during the 2007/2008 contract year. The new prices will apply for the
2008/2009 contract year, which runs from 1 April 2008 to 31 March 2009. Ferrexpo
sells approximately 90% of its production under long-term framework contracts,
with the remainder sold in the spot markets.

The Company expects that settlements will shortly be finalised for the balance
of its sales book at levels consistent with the recently announced international
iron ore pellet benchmark increase. A further announcement will be made in this
regard in due course.


Mike Oppenheimer CEO Commented.

'These settlements are in line with the current iron ore market fundamentals,
and provide us with greater confidence in committing to our planned investments
in capacity growth and pellet quality improvements.

We continue to develop our relationships with our key customers who benefit from
both reliable logistics and long term supply certainty by dealing with Ferrexpo.

In order to meet the strong demand from our customers we are committed to the
aggressive development of our extensive iron reserves which are around the
fourth largest in the world and the biggest in Europe.'


For further information, please contact:

Ferrexpo: [phone]
Gavin Mackay


Finsbury: [phone]
Robin Walker
Alex Simmons


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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