Extension of Supply Contract

Ferrexpo PLC
23 July 2007


23 July 2007



      FERREXPO PLC ANNOUNCES EXTENSION OF SUPPLY CONTRACT WITH VOESTALPINE

Ferrexpo plc, the London-listed resources group, today announces that the
European steel processing group Voestalpine AG has extended its contract for the
supply of iron ore pellets through to 2015.

Under the agreement, Ferrexpo will supply Voestalpine with more than two million
tonnes of pellets per annum. Through Ferrexpo Poltava Mining, its principal
operations in Ukraine, Ferrexpo has been a stable supplier to Voestalpine for
approximately 25 years.

Ferrexpo believes this contract cements the strategic nature of its relationship
with Voestalpine and represents a further milestone in its expanding product
distribution. Ferrexpo is committed to realising the potential of its unique
resource of approximately 18 billion tonnes of iron ore, and to becoming a
leading global supplier of iron ore pellets.

'We are pleased to extend our relationship with Voestalpine,' said Simon Wandke,
Ferrexpo's Chief Marketing Officer. 'Voestalpine is a core customer relationship
for Ferrexpo Poltava Mining in which our joint management of the rail and vessel
supply chain from Ukraine to Voestalpine's facilities allows for effective and
timely pellet supply, and our product flexibility meets the needs of
Voestalpine. This agreement underscores our significant competitive advantages
and ability to deliver value to our clients and shareholders.'

                                     -ENDS-


For further information, please contact:

Ferrexpo:                             [phone]

Dennis McShane
Simon C Wandke

Finsbury:                             [phone]

Robin Walker
Alex Simmons


Notes to Editors:

Ferrexpo is a resources company with assets in Ukraine, principally involved in
the production and export of iron ore pellets, used in producing steel. Current
output is around 9 million tonnes, around 90% 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.

Voestalpine, headquartered in Austria, is a leading European processing group
with its own steelmaking facilities. It is the third largest supplier in Europe
of high quality sheet steel for the automotive, household appliance and
construction industries. In addition to the company's Steel division its Railway
Systems, Automotive and Profilform divisions all occupy top positions in their
respective markets. For further information please visit www.voestalpine.com.


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