ann out on share price, page-3

Fortescue comments on rise in share price
11:15, Thursday, 22 March 2007

Sydney - Thursday - March 22: (RWE Australian Business News) -
Fortescue Metals Group Ltd (ASX code: FMG) today said there were a
number of "general reasons" that might be contributing to an overall
increase in buying interest toward Fortescue stock.
They were:
1. A number of key market forecasters have made an upward
revision of their projected iron ore prices for the 2008/09 year.
2. Fortescue was recently included in the mid-cap FTSE All World
Index and this may have led to an increase in buying interest as index
funds seek to secure a shareholding to match their index weighting.
3. Fortescue believes that along with a general upwards
re-rating of the iron ore sector, there also appears to be a re-rating
of its own stock as the company implements its Pilbara Iron Ore and
Infrastructure Project.
Shares in Fortescue rose 25c to $22.65 this morning.