Wah Nam International Holdings Limited

FerrAus Limited (ASX:FRS) (PINK:FRRAF) is pleased to advise that Union Park Company Limited (UPC), a wholly owned subsidiary of China Railway Materials Commercial Corporation (CRM), has, subject to the conditions below, exercised its right to subscribe for 3,005,753 additional FerrAus shares following the recent share placement to Wah Nam International Australia Pty Ltd (HKG:0159).

The Board of FerrAus Limited (ASX:FRS) (PINK:FRRAF) is pleased to announce that it has completed the placement of 25,047,939 fully paid ordinary shares, representing 11.5% of FerrAus Limited's fully diluted share capital with a wholly owned subsidiary of Wah Nam International Holdings Ltd (HKG:0159) (PINK:WAHNF).

FerrAus Limited (ASX:FRS) (PINK:FRRAF) is pleased to announce that it has executed a Subscription Agreement with a wholly owned subsidiary of Wah Nam International Holdings Ltd (Wah Nam) (HKG:0159) to make a placement to raise approximately A$21.5m via the issue of 25,047,939 fully paid ordinary shares at an issue price of A$0.86 per share, representing a premium of approximately 8% to the last closing price on 22 June 2010. Completion of the placement is due to occur by Monday 28 June 2010.