great report iron producer with own smelter

QUARTERLY MARKET UPDATE WITH FURTHER RECORD PRODUCTION MILESTONES

The Board of OM Holdings Limited (“OMH”) is pleased to provide the following market update.
HIGHLIGHTS

BOOTU CREEK MANGANESE MINE

• Record quarterly production of 169,532 tonnes grading 42.6% Mn achieved.
Quarterly production exceeded 123% of the process plant design capacity.
• Record monthly production of 59,298 tonnes grading 42.7% Mn achieved for
September 2007.
• Installation of plant rectifications to address materials handling issues ahead of the wet
season is well underway and in line with the execution plan and budget.
• Expanded exploration program confirms extended continuity of the existing ore body
and large prospective targets.
• Additional manganese prospective tenements secured, with the Bootu Creek tenement
package now extending to over 1,599 km2.
• Project debt repaid by A$7.43 million with the balance of A$10 million under review by
the Board for early repayment from surplus operating cash flows generated from OMM.

QINZHOU SMELTER

• Record production of 13,116 tonnes of High Carbon Ferro Manganese achieved for the
September 2007 quarter underpinned by strong China domestic market demand and
prices. Quarterly production exceeded budget by 9%.

MARKET OUTLOOK

• The market for manganese ore and alloys remains strong driven by an ongoing
shortage of high grade manganese in the world wide market and continued strong
underlying demand.
• Strong appreciation in pricing for manganese ores and alloys was experienced
throughout the quarter with record price levels confirmed for the fourth quarter of 2007.
CORPORATE
• Selective share buy back of 3.9 million ordinary shares for A$3.432 million completed.
• Appointed Tan Peng Chin as a Non-Executive Director.
• Strong unaudited profitable results achieved from the Bootu Creek Manganese Mine and
the trading and ferro alloy business units for the 30 September 2007 quarter. Continued
robust results expected for the December 2007 quarter and into 2008 from all business
units.