Q2 Production Report

Ferrexpo PLC
12 July 2007



12 July 2007

                                        
                            Ferrexpo Poltava Mining
                                                                                
                             Production for 2Q 2007


Production          Q2      Q1    Change      Q2    Change     YTD     YTD  Change
in Tonnes '000    2007    2007         %    2006         %     1HY     1HY       %
                                                              2007    2006
----------------------------------------------------------------------------------
Iron Ore         7,306   7,140         2   6,826         7  14,446  12,522      15
Concentrate      2,668   2,625         2   2,425        10   5,293   4,475      18
Pellets          2,324   2,329        ()   2,217         5   4,653   3,923      19
Total
   62% Fe        1,360   1,516      (10)   1,465        (7)  2,876   2,360      22
   65% Fe          964     813       19      752        28   1,777   1,563      14
incl.            2,233   2,225        0    2,093         7   4,458   3,738      19
pellets from
produced
concentrate
   62% Fe        1,268   1,412      (10)   1,341        (5)  2,680   2,175      23
   65% Fe          965     813       19      752        28   1,778   1,563      14
----------------------------------------------------------------------------------


Highlights

•  Production continues well above 2006 levels across our product range

•  Iron ore output was up 2% on 1Q 2007 levels and 7% on 1Q 2006 due to the ongoing
   upgrading of mining equipment and associated efficiency enhancements. Ferrexpo
   has a long term improvement plan in place which will continue to reap dividends
   in optimizing output at the current pit.

•  Concentrate production dynamics are very close to those of iron ore and
   demonstrate sustainable growth (up 18% in 1HY 2007 versus 1HY 2006).

•  Total pellet production for 2Q remained about the same as in 1Q but it should be
   underlined there was a significant growth of 65% pellets in total production
   (the share exceeded 41% versus 34% in 1Q). These quality improvements account
   for much of the overall decrease (3%) in volume of pellets from produced
   concentrate compared with 1Q results.

•  Pellet production for 1HY 2007 is 19% up versus 1HY 2006 and indicates Ferrexpo
   leading the way among Ukrainian pellet producers


Viktor Lotous, Chief Operating Officer of Ferrexpo, stated: 'Based on 2Q results
I am pleased to say that Ferrexpo Poltava Mining continues to lead the Ukrainian
mining sector by production growth. The actions we have and will continue to
take to address operational efficiency in mining provide the basis for stable
growth of pellet production volumes as well as desired quality improvements.
Overall demand for pellets remains high and the outlook is stable.'



For further information, please contact:

Ferrexpo:                                        [phone]
Dennis McShane

Finsbury:                                        [phone]
Robin Walker
Alex Simmons

Alexander Dovgalev, Ferrexpo Poltava Mining      [phone]



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.




                      This information is provided by RNS
            The company news service from the London Stock Exchange