As noted in the Group IPO and Eurobond prospectuses, there is a dispute with Gilson Investments Limited and other related companies in the Ukrainian courts which commenced in 2005.

Ferrexpo plc wishes to announce that its wholly owned Swiss subsidiary, Ferrexpo AG has launched legal proceedings against Gilson and co. in the UK High Court in order to take an active step outside the Ukraine to resolve this long-running dispute. The initial hearing which is due to take place in early February 2012 will be on jurisdictional issues.

The board of directors of Ferrexpo has received legal advice that the Ukrainian proceedings are without merit.

The Company will update the market as necessary.