There are no other cost apart from the exercise price. To make it happen, you need to contact the company (or possibly the share registry it depends on the company) to obtain an exercise form. Fill it in, attach your cheque and send it off to the registry.
The time taken varies (again depending on the company and the share registry that they use) but it is usually about two weeks before you will see the FPO's appear in your account.
Just one word of warning before you exercise. The conversion of options to FPO is a CGT event and you will lose your entitlement to the 12 month, 50% discount on CGT once you exercise. If you have held the options for more than 12 months, you might want to consider selling the options rather than converting and selling thereby losing your discount entitlement.
